10,056 Shares in Rio Tinto PLC $RIO Acquired by Passumpsic Savings Bank

Passumpsic Savings Bank purchased a new position in Rio Tinto PLC (NYSE:RIO) in the fourth quarter, Holdings Channel reports. The fund purchased 10,056 shares of the mining company’s stock, valued at approximately $805,000.

A number of other institutional investors also recently added to or reduced their stakes in the company. Caprock Group LLC acquired a new position in Rio Tinto in the third quarter worth approximately $1,416,000. Grantham Mayo Van Otterloo & Co. LLC boosted its stake in Rio Tinto by 21.6% in the 3rd quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 1,126,445 shares of the mining company’s stock worth $74,357,000 after purchasing an additional 199,962 shares during the period. Shrier Wealth Management LLC acquired a new position in Rio Tinto in the 4th quarter worth approximately $1,280,000. Fisher Asset Management LLC boosted its stake in Rio Tinto by 3.0% in the 3rd quarter. Fisher Asset Management LLC now owns 19,120,168 shares of the mining company’s stock worth $1,262,122,000 after purchasing an additional 557,234 shares during the period. Finally, Commons Capital LLC acquired a new position in Rio Tinto in the 3rd quarter worth approximately $1,980,000. Hedge funds and other institutional investors own 19.33% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. Citigroup reaffirmed a “neutral” rating on shares of Rio Tinto in a research note on Monday, April 13th. Zacks Research lowered shares of Rio Tinto from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 7th. Morgan Stanley lowered shares of Rio Tinto from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, January 28th. Weiss Ratings raised shares of Rio Tinto from a “hold (c)” rating to a “buy (b-)” rating in a research note on Friday, February 20th. Finally, DZ Bank lowered shares of Rio Tinto from a “strong-buy” rating to a “hold” rating in a research note on Friday, February 20th. Four analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company. Based on data from MarketBeat, Rio Tinto currently has a consensus rating of “Hold” and an average target price of $101.75.

Rio Tinto Trading Down 0.1%

Shares of NYSE:RIO opened at $103.63 on Monday. The firm has a fifty day moving average of $95.95 and a two-hundred day moving average of $87.33. Rio Tinto PLC has a 12-month low of $55.64 and a 12-month high of $112.58. 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 business also recently announced a dividend, which was paid on Thursday, April 16th. Shareholders of record on Friday, March 6th were paid a dividend of $2.54 per share. The ex-dividend date of this dividend was Friday, March 6th. This represents a dividend yield of 564.0%.

About Rio Tinto

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.