Leuthold Group LLC bought a new stake in Rio Tinto PLC (NYSE:RIO – Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 50,899 shares of the mining company’s stock, valued at approximately $4,073,000.
Several other hedge funds and other institutional investors have also made changes to their positions in the business. Fisher Asset Management LLC boosted its position in shares of Rio Tinto by 3.0% during the third quarter. Fisher Asset Management LLC now owns 19,120,168 shares of the mining company’s stock worth $1,262,122,000 after buying an additional 557,234 shares during the period. Bank of America Corp DE boosted its position in shares of Rio Tinto by 31.9% during the third quarter. Bank of America Corp DE now owns 3,157,545 shares of the mining company’s stock worth $208,430,000 after buying an additional 763,786 shares during the period. Bank of Montreal Can boosted its position in shares of Rio Tinto by 10.2% during the third quarter. Bank of Montreal Can now owns 2,045,636 shares of the mining company’s stock worth $135,032,000 after buying an additional 190,029 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Rio Tinto by 9.3% during the third quarter. Dimensional Fund Advisors LP now owns 2,009,293 shares of the mining company’s stock worth $132,622,000 after buying an additional 171,716 shares during the period. Finally, Northern Trust Corp boosted its position in shares of Rio Tinto by 7.4% during the third quarter. Northern Trust Corp now owns 1,672,792 shares of the mining company’s stock worth $110,421,000 after buying an additional 115,483 shares during the period. 19.33% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Several equities analysts have recently issued reports on the company. Zacks Research downgraded Rio Tinto from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 7th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating on shares of Rio Tinto in a research report on Friday. Erste Group Bank upgraded Rio Tinto from a “hold” rating to a “buy” rating in a research report on Friday, January 23rd. HSBC downgraded Rio Tinto from a “buy” rating to a “hold” rating in a research report on Monday, January 26th. Finally, DZ Bank cut Rio Tinto from a “strong-buy” rating to a “hold” rating in a report on Friday, February 20th. Four research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company’s stock. Based on data from MarketBeat, Rio Tinto has an average rating of “Hold” and a consensus target price of $101.75.
Rio Tinto Trading Down 5.4%
Shares of NYSE:RIO opened at $103.63 on Friday. Rio Tinto PLC has a 12 month low of $55.64 and a 12 month high of $112.58. The stock’s 50 day moving average price is $95.95 and its 200 day moving average price is $87.22. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.44 and a quick ratio of 0.98.
Rio Tinto Announces Dividend
The company also recently announced a dividend, which was paid on Thursday, April 16th. Investors of record on Friday, March 6th were issued a dividend of $2.54 per share. The ex-dividend date of this dividend was Friday, March 6th. This represents a yield of 564.0%.
Rio Tinto 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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