Cohen Investment Advisors LLC Has $291,000 Stock Position in Rio Tinto PLC $RIO

Cohen Investment Advisors LLC decreased its stake in Rio Tinto PLC (NYSE:RIO) by 7.9% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 4,982 shares of the mining company’s stock after selling 427 shares during the quarter. Cohen Investment Advisors LLC’s holdings in Rio Tinto were worth $291,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the business. Auto Owners Insurance Co raised its stake in shares of Rio Tinto by 77,150.0% during the 1st quarter. Auto Owners Insurance Co now owns 7,416,000 shares of the mining company’s stock worth $445,553,000 after purchasing an additional 7,406,400 shares in the last quarter. Kingstone Capital Partners Texas LLC bought a new position in Rio Tinto in the 2nd quarter worth approximately $292,770,000. Dimensional Fund Advisors LP increased its position in 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 buying an additional 490,357 shares during the period. Goldman Sachs Group Inc. grew its holdings in shares of Rio Tinto by 4.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 8,368,620 shares of the mining company’s stock worth $502,787,000 after purchasing an additional 326,661 shares in the last quarter. Finally, Pacific Heights Asset Management LLC grew its holdings in shares of Rio Tinto by 300.0% during the 1st quarter. Pacific Heights Asset Management LLC now owns 300,000 shares of the mining company’s stock worth $18,024,000 after purchasing an additional 225,000 shares in the last quarter. 19.33% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on RIO shares. Deutsche Bank Aktiengesellschaft lowered Rio Tinto from a “buy” rating to a “hold” rating in a report on Wednesday, July 30th. Barclays reiterated an “overweight” rating on shares of Rio Tinto in a research report on Wednesday, July 2nd. Morgan Stanley restated an “overweight” rating on shares of Rio Tinto in a research report on Wednesday. Weiss Ratings reiterated a “hold (c)” rating on shares of Rio Tinto in a report on Wednesday. Finally, Zacks Research upgraded Rio Tinto from a “hold” rating to a “strong-buy” rating in a report on Monday. Three analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $73.00.

Rio Tinto Stock Up 2.1%

Shares of Rio Tinto stock opened at $67.66 on Thursday. Rio Tinto PLC has a 1 year low of $51.67 and a 1 year high of $68.18. The business has a 50-day moving average of $62.90 and a two-hundred day moving average of $60.65. The company has a market capitalization of $84.86 billion, a P/E ratio of 10.49, a price-to-earnings-growth ratio of 4.65 and a beta of 0.66. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.53 and a quick ratio of 1.03.

Rio Tinto Cuts Dividend

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