May Hill Capital LLC Boosts Stock Position in Rio Tinto PLC $RIO

May Hill Capital LLC lifted its position in Rio Tinto PLC (NYSE:RIO) by 129.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,544 shares of the mining company’s stock after purchasing an additional 5,948 shares during the quarter. May Hill Capital LLC’s holdings in Rio Tinto were worth $844,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of RIO. Accredited Investors Inc. bought a new position in Rio Tinto during the 4th quarter worth approximately $202,000. AlphaCore Capital LLC grew its position in Rio Tinto by 4.0% during the 4th quarter. AlphaCore Capital LLC now owns 5,234 shares of the mining company’s stock worth $419,000 after acquiring an additional 200 shares during the last quarter. Thrivent Financial for Lutherans grew its position in Rio Tinto by 77.5% during the 4th quarter. Thrivent Financial for Lutherans now owns 32,072 shares of the mining company’s stock worth $2,576,000 after acquiring an additional 14,006 shares during the last quarter. Pinnacle Associates Ltd. grew its position in Rio Tinto by 0.5% during the 4th quarter. Pinnacle Associates Ltd. now owns 44,119 shares of the mining company’s stock worth $3,531,000 after acquiring an additional 200 shares during the last quarter. Finally, Bank Julius Baer & Co. Ltd Zurich grew its position in Rio Tinto by 1,525.0% during the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 32,223 shares of the mining company’s stock worth $2,579,000 after acquiring an additional 30,240 shares during the last quarter. 19.33% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

RIO has been the subject of several research analyst reports. Royal Bank Of Canada reiterated a “sector perform” rating on shares of Rio Tinto in a report on Thursday, January 22nd. Barclays cut Rio Tinto from an “overweight” rating to an “equal weight” rating in a report on Tuesday, February 24th. JPMorgan Chase & Co. cut Rio Tinto from an “overweight” rating to a “neutral” rating in a report on Monday, March 9th. Argus set a $120.00 price objective on Rio Tinto in a report on Monday, April 27th. Finally, Citigroup reiterated a “neutral” rating on shares of Rio Tinto in a report on Monday, April 13th. Four investment analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the stock. According to MarketBeat, Rio Tinto presently has an average rating of “Hold” and an average target price of $101.75.

Rio Tinto Trading Down 5.4%

Shares of NYSE:RIO opened at $103.63 on Friday. Rio Tinto PLC has a 52-week low of $55.64 and a 52-week high of $112.58. The stock has a 50 day moving average price of $95.95 and a 200-day moving average price of $87.22. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.44 and a quick ratio of 0.98.

Rio Tinto Dividend Announcement

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

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.