Rio Tinto PLC $RIO Shares Sold by Stratos Wealth Partners LTD.

Stratos Wealth Partners LTD. reduced its position in shares of Rio Tinto PLC (NYSE:RIO) by 4.4% in the 2nd quarter, HoldingsChannel reports. The firm owned 12,333 shares of the mining company’s stock after selling 570 shares during the period. Stratos Wealth Partners LTD.’s holdings in Rio Tinto were worth $719,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Wayfinding Financial LLC acquired a new position in Rio Tinto during the 1st quarter worth approximately $30,000. Pandora Wealth Inc. purchased a new stake in shares of Rio Tinto in the first quarter valued at approximately $30,000. Alpine Bank Wealth Management acquired a new position in Rio Tinto during the first quarter worth $30,000. Hilltop National Bank purchased a new position in Rio Tinto in the second quarter worth $44,000. Finally, Resources Management Corp CT ADV acquired a new stake in Rio Tinto in the first quarter valued at $48,000. Hedge funds and other institutional investors own 19.33% of the company’s stock.

Analyst Ratings Changes

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

Rio Tinto Stock Up 2.1%

Shares of NYSE RIO opened at $69.80 on Thursday. Rio Tinto PLC has a 12-month low of $51.67 and a 12-month high of $70.12. The company has a market capitalization of $87.53 billion, a PE ratio of 10.82, a price-to-earnings-growth ratio of 5.43 and a beta of 0.66. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.53 and a quick ratio of 1.03. The firm’s 50-day moving average is $64.33 and its two-hundred day moving average is $61.18.

Rio Tinto Cuts Dividend

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