Inspire Investing LLC Takes Position in Rio Tinto PLC $RIO

Inspire Investing LLC purchased a new position in Rio Tinto PLC (NYSE:RIO) during the 2nd quarter, HoldingsChannel reports. The firm purchased 3,456 shares of the mining company’s stock, valued at approximately $202,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Alpine Bank Wealth Management bought a new stake in shares of Rio Tinto during the first quarter valued at about $30,000. Wayfinding Financial LLC purchased a new stake in shares of Rio Tinto during the first quarter valued at $30,000. Pandora Wealth Inc. acquired a new position in shares of Rio Tinto in the 1st quarter valued at $30,000. Hilltop National Bank purchased a new position in Rio Tinto in the 2nd quarter worth about $44,000. Finally, Resources Management Corp CT ADV acquired a new position in Rio Tinto in the 1st quarter worth approximately $48,000. 19.33% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have weighed in on RIO. Barclays reiterated an “overweight” rating on shares of Rio Tinto in a research note on Wednesday, July 2nd. Berenberg Bank reissued a “hold” rating on shares of Rio Tinto in a research report on Thursday, July 3rd. Zacks Research upgraded Rio Tinto from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 6th. Morgan Stanley restated an “overweight” rating on shares of Rio Tinto in a research report on Wednesday, October 8th. Finally, Deutsche Bank Aktiengesellschaft downgraded Rio Tinto from a “buy” rating to a “hold” rating in a report on Wednesday, July 30th. Three investment analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, Rio Tinto presently has a consensus rating of “Moderate Buy” and a consensus price target of $73.00.

Rio Tinto Price Performance

Shares of RIO opened at $68.12 on Friday. The firm has a market capitalization of $85.43 billion, a PE ratio of 10.56, a P/E/G ratio of 5.49 and a beta of 0.66. Rio Tinto PLC has a 52-week low of $51.67 and a 52-week high of $69.30. The stock has a 50 day simple moving average of $63.95 and a 200 day simple moving average of $60.95. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.03 and a current ratio of 1.53.

Rio Tinto Cuts Dividend

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