FNY Investment Advisers LLC Takes $138,000 Position in Rio Tinto PLC $RIO

FNY Investment Advisers LLC acquired a new stake in shares of Rio Tinto PLC (NYSE:RIO) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,380 shares of the mining company’s stock, valued at approximately $138,000.

A number of other institutional investors have also recently made changes to their positions in RIO. Auto Owners Insurance Co boosted its stake in shares of 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 purchasing an additional 7,406,400 shares during the period. Kingstone Capital Partners Texas LLC purchased a new stake in shares of Rio Tinto during the second quarter valued at approximately $292,770,000. Dimensional Fund Advisors LP boosted its stake in shares of Rio Tinto by 33.9% during 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 purchasing an additional 490,357 shares during the period. Goldman Sachs Group Inc. boosted its stake in shares of Rio Tinto by 4.1% during the first quarter. Goldman Sachs Group Inc. now owns 8,368,620 shares of the mining company’s stock valued at $502,787,000 after purchasing an additional 326,661 shares during the period. Finally, Pacific Heights Asset Management LLC boosted its stake in shares of Rio Tinto by 300.0% during the first quarter. Pacific Heights Asset Management LLC now owns 300,000 shares of the mining company’s stock valued at $18,024,000 after purchasing an additional 225,000 shares during the period. Hedge funds and other institutional investors own 19.33% of the company’s stock.

Rio Tinto Price Performance

RIO opened at $69.80 on Thursday. The stock has a fifty day simple moving average of $64.33 and a two-hundred day simple moving average of $61.18. 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 company has a market cap of $87.53 billion, a price-to-earnings ratio of 10.82, a price-to-earnings-growth ratio of 5.43 and a beta of 0.66. Rio Tinto PLC has a 12-month low of $51.67 and a 12-month high of $70.12.

Rio Tinto Cuts Dividend

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

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Deutsche Bank Aktiengesellschaft lowered Rio Tinto from a “buy” rating to a “hold” rating in a research note on Wednesday, July 30th. Berenberg Bank reaffirmed a “hold” rating on shares of Rio Tinto in a research note on Thursday, July 3rd. Morgan Stanley reaffirmed an “overweight” rating on shares of Rio Tinto in a research note on Wednesday, October 8th. Zacks Research raised Rio Tinto from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 6th. Finally, Barclays reaffirmed an “overweight” rating on shares of Rio Tinto in a research note on Wednesday, July 2nd. Three analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Rio Tinto has an average rating of “Moderate Buy” and a consensus price target of $73.00.

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.