Kornitzer Capital Management Inc. KS Sells 9,902 Shares of Rio Tinto PLC $RIO

Kornitzer Capital Management Inc. KS lowered its position in Rio Tinto PLC (NYSE:RIO) by 3.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 287,838 shares of the mining company’s stock after selling 9,902 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in Rio Tinto were worth $23,036,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Capital Advisors Inc. OK lifted its position in shares of Rio Tinto by 20.6% in the third quarter. Capital Advisors Inc. OK now owns 520,428 shares of the mining company’s stock worth $34,353,000 after purchasing an additional 89,069 shares in the last quarter. Campbell & CO Investment Adviser LLC lifted its position in shares of Rio Tinto by 479.6% in the third quarter. Campbell & CO Investment Adviser LLC now owns 144,553 shares of the mining company’s stock worth $9,542,000 after purchasing an additional 119,614 shares in the last quarter. Synergy Asset Management LLC lifted its position in shares of Rio Tinto by 272.2% in the third quarter. Synergy Asset Management LLC now owns 205,418 shares of the mining company’s stock worth $12,712,000 after purchasing an additional 150,234 shares in the last quarter. Caprock Group LLC bought a new stake in shares of Rio Tinto in the third quarter worth $1,416,000. Finally, Grantham Mayo Van Otterloo & Co. LLC lifted its position in shares of Rio Tinto by 21.6% in the third 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 in the last quarter. Institutional investors own 19.33% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on RIO shares. Sanford C. Bernstein boosted their target price on shares of Rio Tinto from $82.00 to $83.50 and gave the stock an “outperform” rating in a report on Monday. Weiss Ratings upgraded shares of Rio Tinto from a “hold (c)” rating to a “buy (b-)” rating in a report on Friday, February 20th. DZ Bank downgraded shares of Rio Tinto from a “strong-buy” rating to a “hold” rating in a report on Friday, February 20th. HSBC downgraded shares of Rio Tinto from a “buy” rating to a “hold” rating in a report on Monday, January 26th. Finally, Barclays downgraded shares of Rio Tinto from an “overweight” rating to an “equal weight” rating in a report on Tuesday, February 24th. Four investment analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $101.75.

Rio Tinto Price Performance

Shares of RIO opened at $100.61 on Friday. Rio Tinto PLC has a 1-year low of $55.64 and a 1-year high of $101.53. The company’s fifty day simple moving average is $94.47 and its 200 day simple moving average is $84.76. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.98 and a current ratio of 1.44.

Rio Tinto Announces Dividend

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

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.