Rio Tinto PLC $RIO Shares Bought by Oxbow Advisors LLC

Oxbow Advisors LLC grew its holdings in shares of Rio Tinto PLC (NYSE:RIO) by 2.2% in the second quarter, according to its most recent filing with the SEC. The firm owned 63,988 shares of the mining company’s stock after acquiring an additional 1,386 shares during the quarter. Oxbow Advisors LLC’s holdings in Rio Tinto were worth $3,732,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of RIO. Farther Finance Advisors LLC lifted its holdings in shares of Rio Tinto by 24.2% in the first quarter. Farther Finance Advisors LLC now owns 4,023 shares of the mining company’s stock valued at $242,000 after buying an additional 785 shares during the period. GAMMA Investing LLC lifted its holdings in shares of Rio Tinto by 36.8% in the first quarter. GAMMA Investing LLC now owns 2,546 shares of the mining company’s stock valued at $153,000 after buying an additional 685 shares during the period. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Rio Tinto by 3.7% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 98,686 shares of the mining company’s stock valued at $5,929,000 after buying an additional 3,481 shares during the period. Janney Montgomery Scott LLC lifted its holdings in shares of Rio Tinto by 7.1% in the first quarter. Janney Montgomery Scott LLC now owns 308,542 shares of the mining company’s stock valued at $18,537,000 after buying an additional 20,467 shares during the period. Finally, Sagespring Wealth Partners LLC lifted its holdings in shares of Rio Tinto by 60.2% in the first quarter. Sagespring Wealth Partners LLC now owns 6,810 shares of the mining company’s stock valued at $409,000 after buying an additional 2,558 shares during the period. Institutional investors and hedge funds own 19.33% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on RIO. Zacks Research upgraded Rio Tinto from a “hold” rating to a “strong-buy” rating in a report on Monday, October 6th. Berenberg Bank reaffirmed a “hold” rating on shares of Rio Tinto in a research report on Thursday, July 3rd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Rio Tinto in a research report on Wednesday, October 8th. Morgan Stanley reaffirmed an “overweight” rating on shares of Rio Tinto in a research report on Wednesday, October 8th. Finally, Barclays reaffirmed an “overweight” rating on shares of Rio Tinto in a research report on Wednesday, July 2nd. Three research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $73.00.

Rio Tinto Stock Down 0.2%

NYSE:RIO opened at $68.75 on Friday. The firm has a market capitalization of $86.22 billion, a price-to-earnings ratio of 10.66, a PEG ratio of 6.24 and a beta of 0.66. Rio Tinto PLC has a 1-year low of $51.67 and a 1-year high of $69.30. The company has a current ratio of 1.53, a quick ratio of 1.03 and a debt-to-equity ratio of 0.37. The business’s fifty day moving average price is $63.83 and its 200 day moving average price is $60.89.

Rio Tinto Cuts Dividend

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

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.