Capital Advisors Inc. OK Purchases 6,058 Shares of Rio Tinto PLC $RIO

Capital Advisors Inc. OK increased its position in Rio Tinto PLC (NYSE:RIO) by 1.4% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 431,359 shares of the mining company’s stock after buying an additional 6,058 shares during the quarter. Capital Advisors Inc. OK’s holdings in Rio Tinto were worth $25,161,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Alpine Bank Wealth Management bought a new stake in Rio Tinto in the 1st quarter worth approximately $30,000. Wayfinding Financial LLC bought a new stake in Rio Tinto in the 1st quarter worth approximately $30,000. Pandora Wealth Inc. bought a new stake in Rio Tinto in the 1st quarter worth approximately $30,000. Bfsg LLC lifted its position in Rio Tinto by 5,754.5% in the 1st quarter. Bfsg LLC now owns 644 shares of the mining company’s stock worth $39,000 after buying an additional 633 shares during the last quarter. Finally, Hilltop National Bank bought a new stake in Rio Tinto in the 2nd quarter worth approximately $44,000. Institutional investors own 19.33% of the company’s stock.

Rio Tinto Price Performance

Shares of Rio Tinto stock opened at $66.03 on Monday. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.53 and a quick ratio of 1.03. Rio Tinto PLC has a one year low of $51.67 and a one year high of $69.92. The stock has a market capitalization of $82.82 billion, a P/E ratio of 10.24, a price-to-earnings-growth ratio of 4.75 and a beta of 0.66. The business’s 50 day simple moving average is $62.56 and its two-hundred day simple moving average is $60.53.

Rio Tinto Cuts Dividend

The firm also recently announced a semi-annual dividend, which was paid on Thursday, September 25th. Stockholders of record on Friday, August 15th were paid a dividend of $1.48 per share. The ex-dividend date of this dividend was Friday, August 15th. This represents a dividend yield of 620.0%. Rio Tinto’s payout ratio is 45.74%.

Wall Street Analyst Weigh In

RIO has been the subject of a number of recent research reports. Weiss Ratings restated a “hold (c)” rating on shares of Rio Tinto in a research report on Saturday, September 27th. Barclays reaffirmed an “overweight” rating on shares of Rio Tinto in a research note on Wednesday, July 2nd. Morgan Stanley reaffirmed an “overweight” rating on shares of Rio Tinto in a research note on Monday, July 14th. Berenberg Bank reaffirmed a “hold” rating on shares of Rio Tinto in a research note on Thursday, July 3rd. Finally, Deutsche Bank Aktiengesellschaft cut Rio Tinto from a “buy” rating to a “hold” rating in a research note on Wednesday, July 30th. Two research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $73.00.

Rio Tinto Profile

Rio Tinto Group engages in exploring, mining, and processing mineral resources worldwide. The company operates through Iron Ore, Aluminium, Copper, and Minerals Segments. The Iron Ore segment engages in the iron ore mining, and salt and gypsum production in Western Australia. The Aluminum segment is involved in bauxite mining; alumina refining; and aluminium smelting.