Greenline Partners LLC Has $8.50 Million Stock Holdings in Rio Tinto PLC $RIO

Greenline Partners LLC raised its stake in shares of Rio Tinto PLC (NYSE:RIO) by 4.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 141,417 shares of the mining company’s stock after purchasing an additional 6,425 shares during the quarter. Rio Tinto accounts for 1.2% of Greenline Partners LLC’s portfolio, making the stock its 21st largest holding. Greenline Partners LLC’s holdings in Rio Tinto were worth $8,496,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of RIO. Auto Owners Insurance Co boosted its holdings in shares of Rio Tinto by 77,150.0% in the 1st quarter. Auto Owners Insurance Co now owns 7,416,000 shares of the mining company’s stock worth $445,553,000 after acquiring an additional 7,406,400 shares in the last quarter. Deutsche Bank AG boosted its holdings in shares of Rio Tinto by 143,872.8% in the 4th quarter. Deutsche Bank AG now owns 1,264,081 shares of the mining company’s stock worth $74,341,000 after acquiring an additional 1,263,203 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Rio Tinto by 33.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,938,247 shares of the mining company’s stock worth $116,510,000 after acquiring an additional 490,357 shares in the last quarter. Ameriprise Financial Inc. boosted its holdings in shares of Rio Tinto by 169.4% in the 4th quarter. Ameriprise Financial Inc. now owns 619,494 shares of the mining company’s stock worth $36,428,000 after acquiring an additional 389,531 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its holdings in shares of Rio Tinto by 4.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 8,368,620 shares of the mining company’s stock worth $502,787,000 after acquiring an additional 326,661 shares in the last quarter. 19.33% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

RIO has been the topic of several recent analyst reports. Barclays reissued an “overweight” rating on shares of Rio Tinto in a report on Wednesday, July 2nd. Deutsche Bank Aktiengesellschaft downgraded Rio Tinto from a “buy” rating to a “hold” rating in a report on Wednesday, July 30th. Berenberg Bank reissued a “hold” rating on shares of Rio Tinto in a report on Thursday, July 3rd. Morgan Stanley restated an “overweight” rating on shares of Rio Tinto in a research report on Monday, July 14th. Finally, Jefferies Financial Group restated a “hold” rating on shares of Rio Tinto in a research report on Tuesday, June 3rd. Two research 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 company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $73.00.

Rio Tinto Stock Performance

Shares of Rio Tinto stock opened at $62.48 on Thursday. The firm has a fifty day moving average of $60.96 and a two-hundred day moving average of $60.37. The stock has a market capitalization of $78.36 billion, a price-to-earnings ratio of 9.69 and a beta of 0.66. Rio Tinto PLC has a 52 week low of $51.67 and a 52 week high of $72.08. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.03 and a current ratio of 1.53.

Rio Tinto Cuts Dividend

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

Rio Tinto 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.