Sequoia Financial Advisors LLC Has $866,000 Position in Rio Tinto PLC $RIO

Sequoia Financial Advisors LLC lifted its holdings in shares of Rio Tinto PLC (NYSE:RIO) by 63.3% during the second quarter, HoldingsChannel reports. The firm owned 14,840 shares of the mining company’s stock after acquiring an additional 5,750 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Rio Tinto were worth $866,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. GAMMA Investing LLC raised its position in Rio Tinto by 36.8% in the 1st 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 last quarter. Wealth Enhancement Advisory Services LLC raised its position in Rio Tinto by 3.7% in the 1st 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 last quarter. Johnson Investment Counsel Inc. raised its position in Rio Tinto by 10.4% in the 1st quarter. Johnson Investment Counsel Inc. now owns 19,410 shares of the mining company’s stock valued at $1,166,000 after buying an additional 1,830 shares during the last quarter. Blue Trust Inc. raised its position in Rio Tinto by 50.3% in the 1st quarter. Blue Trust Inc. now owns 12,790 shares of the mining company’s stock valued at $768,000 after buying an additional 4,279 shares during the last quarter. Finally, Avior Wealth Management LLC raised its position in Rio Tinto by 43.2% in the 1st quarter. Avior Wealth Management LLC now owns 8,205 shares of the mining company’s stock valued at $493,000 after buying an additional 2,476 shares during the last quarter. 19.33% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on RIO shares. Barclays reissued an “overweight” rating on shares of Rio Tinto in a research report on Wednesday, July 2nd. Deutsche Bank Aktiengesellschaft lowered Rio Tinto from a “buy” rating to a “hold” rating in a research report on Wednesday, July 30th. Berenberg Bank reissued a “hold” rating on shares of Rio Tinto in a research report on Thursday, July 3rd. Weiss Ratings reissued a “hold (c)” rating on shares of Rio Tinto in a research report on Wednesday, October 8th. Finally, Morgan Stanley reaffirmed an “overweight” rating on shares of Rio Tinto in a research report on Wednesday, October 8th. Three analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $73.00.

Rio Tinto Stock Down 0.9%

NYSE:RIO opened at $68.12 on Friday. The firm has a market capitalization of $85.43 billion, a price-to-earnings ratio of 10.56, a price-to-earnings-growth ratio of 5.44 and a beta of 0.66. Rio Tinto PLC has a twelve month low of $51.67 and a twelve month high of $69.30. The stock’s 50 day moving average price is $63.95 and its two-hundred day moving average price is $60.95. The company has a quick ratio of 1.03, a current ratio of 1.53 and a debt-to-equity ratio of 0.37.

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. This represents a dividend yield of 620.0%. The ex-dividend date was Friday, August 15th. Rio Tinto’s payout ratio is currently 45.74%.

About Rio Tinto

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.