Checchi Capital Advisers LLC Sells 188 Shares of Rio Tinto PLC $RIO

Checchi Capital Advisers LLC lowered its stake in shares of Rio Tinto PLC (NYSE:RIO) by 1.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,972 shares of the mining company’s stock after selling 188 shares during the quarter. Checchi Capital Advisers LLC’s holdings in Rio Tinto were worth $582,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also added to or reduced their stakes in the company. Goldman Sachs Group Inc. boosted its holdings in shares of Rio Tinto by 4.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 8,368,620 shares of the mining company’s stock valued at $502,787,000 after buying an additional 326,661 shares in the last quarter. Auto Owners Insurance Co lifted its position in Rio Tinto by 77,150.0% during the first quarter. Auto Owners Insurance Co now owns 7,416,000 shares of the mining company’s stock valued at $445,553,000 after acquiring an additional 7,406,400 shares during the last quarter. Kingstone Capital Partners Texas LLC purchased a new stake in Rio Tinto during the second quarter valued at approximately $292,770,000. Dimensional Fund Advisors LP boosted its stake in Rio Tinto by 33.9% in the first quarter. Dimensional Fund Advisors LP now owns 1,938,247 shares of the mining company’s stock valued at $116,510,000 after acquiring an additional 490,357 shares in the last quarter. Finally, Northern Trust Corp grew its holdings in Rio Tinto by 3.8% in the first quarter. Northern Trust Corp now owns 1,663,964 shares of the mining company’s stock worth $99,971,000 after purchasing an additional 60,927 shares during the last quarter. 19.33% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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

Rio Tinto Stock Up 1.2%

Shares of RIO stock opened at $66.90 on Tuesday. Rio Tinto PLC has a fifty-two week low of $51.67 and a fifty-two week high of $69.83. The firm has a market capitalization of $83.90 billion, a PE ratio of 10.37, a P/E/G ratio of 4.75 and a beta of 0.66. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.03 and a current ratio of 1.53. The stock’s 50-day simple moving average is $62.66 and its 200-day simple moving average is $60.56.

Rio Tinto Cuts Dividend

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

Rio Tinto Company 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.