Rathbones Group PLC Has $851,000 Stock Holdings in Rio Tinto PLC $RIO

Rathbones Group PLC trimmed its holdings in shares of Rio Tinto PLC (NYSE:RIO) by 36.4% in the first quarter, Holdings Channel.com reports. The fund owned 9,125 shares of the mining company’s stock after selling 5,220 shares during the quarter. Rathbones Group PLC’s holdings in Rio Tinto were worth $851,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in RIO. Parallel Advisors LLC increased its stake in Rio Tinto by 34.1% in the first quarter. Parallel Advisors LLC now owns 8,612 shares of the mining company’s stock valued at $803,000 after acquiring an additional 2,189 shares during the period. Summit Financial Wealth Advisors LLC lifted its stake in Rio Tinto by 14.2% during the first quarter. Summit Financial Wealth Advisors LLC now owns 3,087 shares of the mining company’s stock worth $288,000 after purchasing an additional 384 shares during the period. Axiom Investment Management LLC bought a new position in Rio Tinto during the first quarter worth about $168,000. Summitry LLC boosted its holdings in Rio Tinto by 5.4% during the first quarter. Summitry LLC now owns 6,830 shares of the mining company’s stock valued at $637,000 after purchasing an additional 351 shares in the last quarter. Finally, WNY Asset Management LLC bought a new stake in shares of Rio Tinto in the 1st quarter valued at approximately $740,000. 19.33% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Royal Bank Of Canada cut Rio Tinto from a “sector perform” rating to an “underperform” rating in a report on Wednesday, June 3rd. Bank of America cut Rio Tinto from a “buy” rating to a “neutral” rating in a research report on Friday, May 22nd. Sanford C. Bernstein increased their price objective on Rio Tinto from $82.00 to $83.50 and gave the stock an “outperform” rating in a research note on Monday, April 27th. Morgan Stanley cut Rio Tinto from an “equal weight” rating to an “underweight” rating in a report on Wednesday, July 8th. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating on shares of Rio Tinto in a research note on Friday, May 15th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, seven have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $105.50.

Rio Tinto Price Performance

Shares of RIO opened at $101.61 on Thursday. Rio Tinto PLC has a one year low of $60.09 and a one year high of $112.58. The business’s 50 day simple moving average is $97.12 and its 200-day simple moving average is $96.52. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.42 and a quick ratio of 0.93.

Rio Tinto Announces Dividend

The firm also recently disclosed a dividend, which will be paid on Thursday, September 24th. Shareholders of record on Friday, August 14th will be paid a $2.11 dividend. The ex-dividend date of this dividend is Friday, August 14th. This represents a yield of 438.0%.

More Rio Tinto News

Here are the key news stories impacting Rio Tinto this week:

• Positive Sentiment: Rio Tinto’s reported $3 billion asset sale has attracted interest from private-equity firms including Blackstone and KKR. A successful sale could generate cash, simplify the portfolio and support capital returns or debt reduction. Rio Tinto’s $3B asset sale lures private equity giants including Blackstone, KKR
• Positive Sentiment: European markets closed higher amid generally solid corporate earnings and easing geopolitical concerns, providing a supportive backdrop for large-cap miners such as Rio Tinto. European Stocks Close Higher Tuesday on Earnings Strength, Hormuz Talks
• Neutral Sentiment: Rio Tinto is reportedly unlikely to revive merger discussions with Glencore in the near term because of the existing standstill agreement. This removes near-term deal speculation while also reducing the risks associated with pursuing a major combination. Market Chatter: Rio Tinto Unlikely to Revisit Merger Talks With Glencore Soon
• Negative Sentiment: Investors purchased 7,236 Rio Tinto put options, roughly 85% above typical daily volume. The activity signals increased demand for downside protection or bearish positioning, although it does not necessarily predict a fundamental deterioration.
• Negative Sentiment: Rio Tinto’s Bell Bay aluminum smelter was reportedly excluded from Australia’s green-aluminum support program, potentially leaving the facility at a competitive disadvantage and increasing pressure on its economics. Rio Tinto’s Bell Bay Smelter Excluded from Australia’s Green Aluminum Support Scheme
• Negative Sentiment: Rio Tinto’s iron-ore leadership reportedly warned that a union membership drive could influence where future investment is allocated, highlighting potential labor-cost, operational and capital-allocation risks. Rio Tinto’s iron ore boss spells out why unions’ membership drive a reason to divert investment

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.