Trek Financial LLC acquired a new position in Rio Tinto PLC (NYSE:RIO – Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 54,824 shares of the mining company’s stock, valued at approximately $4,388,000.
Other hedge funds have also recently added to or reduced their stakes in the company. PFS Partners LLC acquired a new position in Rio Tinto in the fourth quarter worth $28,000. Nvest Wealth Strategies Inc. acquired a new position in Rio Tinto in the fourth quarter worth $28,000. Trust Co. of Toledo NA OH acquired a new position in Rio Tinto in the fourth quarter worth $34,000. Root Financial Partners LLC acquired a new position in Rio Tinto in the third quarter worth $36,000. Finally, Migdal Insurance & Financial Holdings Ltd. acquired a new position in Rio Tinto in the fourth quarter worth $37,000. Institutional investors and hedge funds own 19.33% of the company’s stock.
Rio Tinto News Roundup
Here are the key news stories impacting Rio Tinto this week:
- Positive Sentiment: Rio Tinto signed a 30-year power purchase agreement with Yindjibarndi Energy for the Jinbi Solar Project in Australia, locking in long-term renewable electricity supply for its Pilbara operations and reinforcing its decarbonization strategy. Article Title
- Positive Sentiment: Yindjibarndi Energy said the Jinbi Solar Project has reached financial close and will move into construction, which adds credibility to the project and highlights Rio Tinto’s role in enabling new low-carbon power infrastructure. Article Title
- Positive Sentiment: Rio Tinto is reportedly in talks to increase its stake in the Los Azules copper project in Argentina, potentially strengthening its exposure to copper, a metal critical for electrification and AI/data-center demand. Article Title
- Neutral Sentiment: Rio Tinto extended its partnership with the Clontarf Foundation to support Indigenous education, a reputationally positive move but unlikely to materially affect near-term earnings. Article Title
- Negative Sentiment: Rio Tinto was accused of drying a sacred Aboriginal waterhole, a headline that could add ESG and community-relations overhang even if the financial impact is unclear. Article Title
Rio Tinto Stock Up 2.3%
Rio Tinto Announces Dividend
The business also recently disclosed a dividend, which was paid on Thursday, April 16th. Investors of record on Friday, March 6th were paid a dividend of $2.54 per share. This represents a dividend yield of 564.0%. The ex-dividend date was Friday, March 6th.
Analyst Upgrades and Downgrades
A number of equities analysts have commented on the stock. HSBC downgraded shares of Rio Tinto from a “buy” rating to a “hold” rating in a report on Monday, January 26th. Sanford C. Bernstein lifted their price objective on shares of Rio Tinto from $82.00 to $83.50 and gave the stock an “outperform” rating in a report on Monday, April 27th. Morgan Stanley downgraded shares of Rio Tinto from an “overweight” rating to an “equal weight” rating in a report on Wednesday, January 28th. Argus set a $120.00 price target on shares of Rio Tinto in a report on Monday, April 27th. Finally, Erste Group Bank raised shares of Rio Tinto from a “hold” rating to a “buy” rating in a report on Friday, January 23rd. Four analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $101.75.
View Our Latest Research Report on RIO
Rio Tinto Company Profile
Rio Tinto is a global mining and metals company that explores for, mines, processes and markets a wide range of commodities. Its principal products include iron ore, aluminum, copper, diamonds and various other minerals and industrial materials. The company’s activities span the full value chain from exploration and project development to mining, processing, smelting and refining, supplying raw materials to industries such as steelmaking, automotive, packaging, electronics and construction.
The origins of Rio Tinto date back to mining operations in the Rio Tinto region of Spain in the 19th century, and the group has since grown into a multinational enterprise.
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