First Bank & Trust purchased a new position in shares of Rio Tinto plc ADR (NYSE:RIO) during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 500 shares of the mining company’s stock, valued at approximately $29,000.
Several other institutional investors also recently made changes to their positions in RIO. FMR LLC raised its position in shares of Rio Tinto by 3.8% during the 3rd quarter. FMR LLC now owns 271,670 shares of the mining company’s stock worth $13,861,000 after purchasing an additional 9,956 shares during the period. Renaissance Technologies LLC acquired a new stake in shares of Rio Tinto during the 3rd quarter worth approximately $14,444,000. First Republic Investment Management Inc. raised its position in shares of Rio Tinto by 40.4% during the 3rd quarter. First Republic Investment Management Inc. now owns 14,004 shares of the mining company’s stock worth $715,000 after purchasing an additional 4,029 shares during the period. Verition Fund Management LLC acquired a new stake in shares of Rio Tinto during the 3rd quarter worth approximately $213,000. Finally, Mackenzie Financial Corp raised its position in shares of Rio Tinto by 262.5% during the 3rd quarter. Mackenzie Financial Corp now owns 14,500 shares of the mining company’s stock worth $740,000 after purchasing an additional 10,500 shares during the period. Institutional investors and hedge funds own 7.89% of the company’s stock.
Shares of NYSE:RIO opened at $60.34 on Wednesday. Rio Tinto plc ADR has a 1 year low of $44.62 and a 1 year high of $63.27. The company has a current ratio of 1.98, a quick ratio of 1.65 and a debt-to-equity ratio of 0.26.
The business also recently announced a semiannual dividend, which will be paid on Thursday, April 18th. Shareholders of record on Friday, March 8th will be issued a dividend of $1.806 per share. This is a positive change from Rio Tinto’s previous semiannual dividend of $1.27. This represents a yield of 6.19%. The ex-dividend date is Thursday, March 7th. Rio Tinto’s dividend payout ratio (DPR) is 71.01%.
A number of brokerages have recently weighed in on RIO. Zacks Investment Research cut Rio Tinto from a “strong-buy” rating to a “hold” rating in a research report on Tuesday. BNP Paribas cut Rio Tinto from a “neutral” rating to an “underperform” rating in a research report on Wednesday, April 10th. Exane BNP Paribas cut Rio Tinto from a “neutral” rating to an “underperform” rating in a research report on Wednesday, April 10th. Vertical Research upgraded Rio Tinto from a “sell” rating to a “hold” rating in a research report on Thursday, April 4th. Finally, Vertical Group upgraded Rio Tinto from a “sell” rating to a “hold” rating in a research report on Thursday, April 4th. Six research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and three have assigned a buy rating to the company’s stock. Rio Tinto currently has an average rating of “Hold” and an average price target of $62.33.
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Rio Tinto Profile
Rio Tinto plc, a mining and metals company, explores for, develops, produces, and processes minerals and metals worldwide. It finds, mines, and processes mineral resources, including aluminum, copper, diamonds, gold, iron ore, thermal and metallurgical coal, and uranium, as well as industrial minerals, such as borates, titanium dioxide, and salt.
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