Community Bank & Trust Waco Texas Boosts Stake in Rio Tinto PLC $RIO

Community Bank & Trust Waco Texas grew its stake in shares of Rio Tinto PLC (NYSE:RIO) by 8.0% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 27,540 shares of the mining company’s stock after buying an additional 2,042 shares during the period. Community Bank & Trust Waco Texas’ holdings in Rio Tinto were worth $1,606,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. PFG Investments LLC raised its position in shares of Rio Tinto by 7.9% during the 2nd quarter. PFG Investments LLC now owns 5,913 shares of the mining company’s stock valued at $345,000 after buying an additional 434 shares in the last quarter. Columbia Asset Management raised its position in Rio Tinto by 23.3% in the 2nd quarter. Columbia Asset Management now owns 7,967 shares of the mining company’s stock worth $465,000 after purchasing an additional 1,503 shares during the period. XML Financial LLC raised its position in Rio Tinto by 20.7% in the 2nd quarter. XML Financial LLC now owns 6,415 shares of the mining company’s stock worth $374,000 after purchasing an additional 1,100 shares during the period. Uncommon Cents Investing LLC raised its position in Rio Tinto by 2.4% in the 2nd quarter. Uncommon Cents Investing LLC now owns 59,730 shares of the mining company’s stock worth $3,484,000 after purchasing an additional 1,425 shares during the period. Finally, Old Port Advisors raised its position in Rio Tinto by 23.4% in the 2nd quarter. Old Port Advisors now owns 26,218 shares of the mining company’s stock worth $1,529,000 after purchasing an additional 4,975 shares during the period. Hedge funds and other institutional investors own 19.33% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on RIO shares. Jefferies Financial Group reiterated a “hold” rating on shares of Rio Tinto in a research report on Tuesday, June 3rd. Berenberg Bank reiterated a “hold” rating on shares of Rio Tinto in a research report on Thursday, July 3rd. Morgan Stanley reiterated an “overweight” rating on shares of Rio Tinto in a research report on Monday, July 14th. Deutsche Bank Aktiengesellschaft cut shares of Rio Tinto from a “buy” rating to a “hold” rating in a research report on Wednesday, July 30th. Finally, Barclays reiterated an “overweight” rating on shares of Rio Tinto in a research report on Wednesday, July 2nd. Two equities research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $73.00.

Rio Tinto Trading Up 0.1%

NYSE:RIO opened at $65.99 on Wednesday. Rio Tinto PLC has a one year low of $51.67 and a one year high of $72.08. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.53 and a quick ratio of 1.03. The company’s 50-day simple moving average is $62.42 and its 200 day simple moving average is $60.50. The firm has a market capitalization of $82.76 billion, a P/E ratio of 10.23 and a beta of 0.66.

Rio Tinto Cuts Dividend

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

Rio Tinto Profile

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.