4,146 Shares in Rio Tinto PLC $RIO Acquired by SLT Holdings LLC

SLT Holdings LLC acquired a new position in Rio Tinto PLC (NYSE:RIO) in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 4,146 shares of the mining company’s stock, valued at approximately $242,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Amundi grew its holdings in Rio Tinto by 224.0% in the 1st quarter. Amundi now owns 230,891 shares of the mining company’s stock worth $13,491,000 after buying an additional 159,636 shares in the last quarter. Farther Finance Advisors LLC lifted its position in Rio Tinto by 24.2% in the first quarter. Farther Finance Advisors LLC now owns 4,023 shares of the mining company’s stock worth $242,000 after purchasing an additional 785 shares during the period. Dynamic Technology Lab Private Ltd acquired a new stake in Rio Tinto in the first quarter worth approximately $357,000. Acadian Asset Management LLC lifted its position in Rio Tinto by 37.9% in the first quarter. Acadian Asset Management LLC now owns 57,595 shares of the mining company’s stock worth $3,458,000 after purchasing an additional 15,839 shares during the period. Finally, Merit Financial Group LLC acquired a new stake in Rio Tinto in the first quarter worth approximately $251,000. 19.33% of the stock is owned by institutional investors.

Rio Tinto Price Performance

NYSE RIO opened at $65.47 on Friday. The stock has a market capitalization of $82.10 billion, a P/E ratio of 10.15, a P/E/G ratio of 4.70 and a beta of 0.66. Rio Tinto PLC has a 1 year low of $51.67 and a 1 year high of $68.80. The business’s fifty day moving average is $63.16 and its two-hundred day moving average is $60.70. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.03 and a current ratio of 1.53.

Rio Tinto Cuts Dividend

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

Wall Street Analyst Weigh In

A number of research firms have weighed in on RIO. Barclays restated an “overweight” rating on shares of Rio Tinto in a research report on Wednesday, July 2nd. Berenberg Bank restated a “hold” rating on shares of Rio Tinto in a research report on Thursday, July 3rd. Deutsche Bank Aktiengesellschaft downgraded Rio Tinto from a “buy” rating to a “hold” rating in a research report on Wednesday, July 30th. Morgan Stanley restated an “overweight” rating on shares of Rio Tinto in a research report on Wednesday. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Rio Tinto in a research report on Wednesday. Three equities research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Rio Tinto currently has a consensus rating of “Moderate Buy” and a consensus target price 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.