Lighthouse Investment Partners LLC Buys 135,070 Shares of Rio Tinto PLC $RIO

Lighthouse Investment Partners LLC boosted its stake in Rio Tinto PLC (NYSE:RIO) by 430.7% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 166,432 shares of the mining company’s stock after buying an additional 135,070 shares during the quarter. Lighthouse Investment Partners LLC’s holdings in Rio Tinto were worth $10,986,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the stock. Spire Wealth Management grew its stake in shares of Rio Tinto by 4.2% in the 3rd quarter. Spire Wealth Management now owns 4,258 shares of the mining company’s stock worth $281,000 after acquiring an additional 173 shares in the last quarter. Cornerstone Wealth Management LLC lifted its position in shares of Rio Tinto by 2.7% during the third quarter. Cornerstone Wealth Management LLC now owns 6,620 shares of the mining company’s stock valued at $437,000 after purchasing an additional 174 shares in the last quarter. Salomon & Ludwin LLC boosted its holdings in Rio Tinto by 62.2% during the third quarter. Salomon & Ludwin LLC now owns 472 shares of the mining company’s stock worth $31,000 after purchasing an additional 181 shares during the last quarter. Hamilton Point Investment Advisors LLC boosted its holdings in Rio Tinto by 0.4% during the third quarter. Hamilton Point Investment Advisors LLC now owns 42,206 shares of the mining company’s stock worth $2,786,000 after purchasing an additional 182 shares during the last quarter. Finally, Pinnacle Associates Ltd. grew its position in Rio Tinto by 0.4% in the 3rd quarter. Pinnacle Associates Ltd. now owns 43,919 shares of the mining company’s stock worth $2,899,000 after purchasing an additional 182 shares in the last quarter. 19.33% of the stock is currently owned by institutional investors.

Rio Tinto Trading Down 3.2%

NYSE:RIO opened at $87.83 on Monday. The company has a quick ratio of 0.98, a current ratio of 1.44 and a debt-to-equity ratio of 0.33. The firm’s 50 day moving average is $92.23 and its 200 day moving average is $77.84. Rio Tinto PLC has a 12 month low of $51.67 and a 12 month high of $101.53.

Rio Tinto Dividend Announcement

The company also recently announced a dividend, which will be paid on Thursday, April 16th. Shareholders of record on Friday, March 6th will be given a $2.54 dividend. This represents a yield of 564.0%. The ex-dividend date of this dividend is Friday, March 6th.

Analyst Ratings Changes

RIO has been the topic of several recent analyst reports. JPMorgan Chase & Co. cut shares of Rio Tinto from an “overweight” rating to a “neutral” rating in a research report on Monday, March 9th. DZ Bank lowered Rio Tinto from a “strong-buy” rating to a “hold” rating in a report on Friday, February 20th. Morgan Stanley downgraded Rio Tinto from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, January 28th. Zacks Research raised Rio Tinto from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 29th. Finally, Citigroup upgraded Rio Tinto to a “hold” rating in a research note on Tuesday, February 10th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and ten have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $81.00.

Rio Tinto 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.