Atria Investments Inc Increases Stock Position in Rio Tinto PLC $RIO

Atria Investments Inc increased its position in shares of Rio Tinto PLC (NYSE:RIO) by 22.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 56,057 shares of the mining company’s stock after buying an additional 10,369 shares during the period. Atria Investments Inc’s holdings in Rio Tinto were worth $4,486,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Fisher Asset Management LLC boosted its holdings in 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 in the last quarter. Bank of America Corp DE boosted its holdings in 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 in the last quarter. Bank of Montreal Can boosted its holdings in 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 in the last quarter. Dimensional Fund Advisors LP boosted its holdings in 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 in the last quarter. Finally, Northern Trust Corp boosted its holdings in 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 in the last quarter. 19.33% of the stock is owned by hedge funds and other institutional investors.

Rio Tinto Stock Down 5.4%

RIO opened at $103.63 on Friday. The company has a quick ratio of 0.98, a current ratio of 1.44 and a debt-to-equity ratio of 0.33. Rio Tinto PLC has a 52-week low of $55.64 and a 52-week high of $112.58. The firm’s fifty day simple moving average is $95.95 and its two-hundred day simple moving average is $87.22.

Rio Tinto Dividend Announcement

The business also recently disclosed a dividend, which was paid on Thursday, April 16th. Shareholders of record on Friday, March 6th were issued a dividend of $2.54 per share. This represents a yield of 564.0%. The ex-dividend date of this dividend was Friday, March 6th.

Analysts Set New Price Targets

A number of brokerages recently issued reports on RIO. JPMorgan Chase & Co. downgraded shares of Rio Tinto from an “overweight” rating to a “neutral” rating in a report on Monday, March 9th. Morgan Stanley lowered Rio Tinto from an “overweight” rating to an “equal weight” rating in a research report on Wednesday, January 28th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating on shares of Rio Tinto in a research report on Friday. Citigroup reiterated a “neutral” rating on shares of Rio Tinto in a research report on Monday, April 13th. Finally, Barclays lowered Rio Tinto from an “overweight” rating to an “equal weight” rating in a research report on Tuesday, February 24th. Four analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $101.75.

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.