Rio Tinto PLC $RIO Shares Bought by Ellsworth Advisors LLC

Ellsworth Advisors LLC boosted its position in shares of Rio Tinto PLC (NYSE:RIO) by 22.9% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 13,696 shares of the mining company’s stock after acquiring an additional 2,553 shares during the quarter. Ellsworth Advisors LLC’s holdings in Rio Tinto were worth $823,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Wayfinding Financial LLC acquired a new stake in Rio Tinto during the 1st quarter worth about $30,000. Pandora Wealth Inc. acquired a new stake in Rio Tinto during the 1st quarter worth about $30,000. Alpine Bank Wealth Management acquired a new position in shares of Rio Tinto in the 1st quarter valued at about $30,000. Bfsg LLC lifted its holdings in shares of Rio Tinto by 5,754.5% in the 1st quarter. Bfsg LLC now owns 644 shares of the mining company’s stock valued at $39,000 after buying an additional 633 shares during the period. Finally, Ameriflex Group Inc. acquired a new position in shares of Rio Tinto in the 4th quarter valued at about $47,000. Institutional investors and hedge funds own 19.33% of the company’s stock.

Rio Tinto Price Performance

Shares of Rio Tinto stock opened at $62.13 on Thursday. The company has a quick ratio of 1.03, a current ratio of 1.53 and a debt-to-equity ratio of 0.37. Rio Tinto PLC has a twelve month low of $51.67 and a twelve month high of $72.08. The business has a 50-day moving average price of $61.36 and a 200 day moving average price of $60.34. The firm has a market cap of $77.91 billion, a PE ratio of 9.63 and a beta of 0.66.

Rio Tinto Cuts Dividend

The firm also recently declared a semi-annual dividend, which will be paid on Thursday, September 25th. Investors of record on Friday, August 15th will be paid a $1.48 dividend. This represents a dividend yield of 620.0%. The ex-dividend date is Friday, August 15th. Rio Tinto’s payout ratio is currently 45.74%.

Wall Street Analyst Weigh In

RIO has been the subject of several analyst reports. Deutsche Bank Aktiengesellschaft cut Rio Tinto from a “buy” rating to a “hold” rating in a report on Wednesday, July 30th. Morgan Stanley reissued an “overweight” rating on shares of Rio Tinto in a report on Monday, July 14th. Barclays reissued an “overweight” rating on shares of Rio Tinto in a report on Wednesday, July 2nd. Jefferies Financial Group reissued a “hold” rating on shares of Rio Tinto in a report on Tuesday, June 3rd. Finally, Berenberg Bank reissued a “hold” rating on shares of Rio Tinto in a report on Thursday, July 3rd. Two investment analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $73.00.

About Rio Tinto

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.