Chiron Capital Management LLC Buys New Shares in Rio Tinto PLC $RIO

Chiron Capital Management LLC purchased a new stake in shares of Rio Tinto PLC (NYSE:RIO) in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 5,605 shares of the mining company’s stock, valued at approximately $337,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of RIO. Alpine Bank Wealth Management bought a new stake in Rio Tinto during the 1st quarter valued at $30,000. Wayfinding Financial LLC bought a new stake in Rio Tinto during the 1st quarter valued at $30,000. Pandora Wealth Inc. bought a new stake in Rio Tinto during the 1st quarter valued at $30,000. Bfsg LLC increased its stake in Rio Tinto by 5,754.5% during the 1st quarter. Bfsg LLC now owns 644 shares of the mining company’s stock valued at $39,000 after purchasing an additional 633 shares in the last quarter. Finally, Ameriflex Group Inc. bought a new stake in Rio Tinto during the 4th quarter valued at $47,000. Institutional investors own 19.33% of the company’s stock.

Rio Tinto Stock Performance

NYSE RIO opened at $62.70 on Tuesday. Rio Tinto PLC has a 1 year low of $51.67 and a 1 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 firm has a market cap of $78.63 billion, a price-to-earnings ratio of 9.72 and a beta of 0.66. The company has a fifty day moving average price of $60.75 and a 200-day moving average price of $60.34.

Rio Tinto Cuts Dividend

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

Analyst Ratings Changes

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

Rio Tinto Company 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.