Rio Tinto PLC $RIO Position Increased by Whittier Trust Co.

Whittier Trust Co. raised its holdings in shares of Rio Tinto PLC (NYSE:RIO) by 6.9% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 29,263 shares of the mining company’s stock after buying an additional 1,878 shares during the period. Whittier Trust Co.’s holdings in Rio Tinto were worth $1,707,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Alpine Bank Wealth Management bought a new stake in Rio Tinto during the first quarter worth approximately $30,000. Wayfinding Financial LLC bought a new stake in Rio Tinto during the first quarter worth approximately $30,000. Pandora Wealth Inc. acquired a new position in Rio Tinto in the 1st quarter worth approximately $30,000. Hilltop National Bank acquired a new position in Rio Tinto in the 2nd quarter worth approximately $44,000. Finally, Resources Management Corp CT ADV acquired a new position in Rio Tinto in the 1st quarter worth approximately $48,000. 19.33% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on RIO shares. Barclays reaffirmed an “overweight” rating on shares of Rio Tinto in a research note on Wednesday, July 2nd. Morgan Stanley reaffirmed an “overweight” rating on shares of Rio Tinto in a research note on Wednesday, October 8th. Zacks Research raised shares of Rio Tinto from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 6th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Rio Tinto in a research note on Wednesday, October 8th. Finally, Berenberg Bank reaffirmed a “hold” rating on shares of Rio Tinto in a research note on Thursday, July 3rd. Three investment analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, Rio Tinto has an average rating of “Moderate Buy” and an average price target of $73.00.

Rio Tinto Trading Up 2.1%

Shares of NYSE:RIO opened at $69.80 on Thursday. The firm has a fifty day moving average of $64.33 and a two-hundred day moving average of $61.18. The firm has a market capitalization of $87.53 billion, a P/E ratio of 10.82, a price-to-earnings-growth ratio of 5.43 and a beta of 0.66. Rio Tinto PLC has a 12-month low of $51.67 and a 12-month high of $70.12. 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 Cuts Dividend

The business also recently announced a semi-annual dividend, which was paid on Thursday, September 25th. Shareholders of record on Friday, August 15th were paid a dividend of $1.48 per share. The ex-dividend date of this dividend was Friday, August 15th. This represents a dividend yield of 620.0%. Rio Tinto’s dividend payout ratio (DPR) 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.