SSA Swiss Advisors AG Reduces Stock Holdings in Rio Tinto PLC $RIO

SSA Swiss Advisors AG lowered its stake in shares of Rio Tinto PLC (NYSE:RIO) by 6.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 48,382 shares of the mining company’s stock after selling 3,180 shares during the period. SSA Swiss Advisors AG’s holdings in Rio Tinto were worth $3,068,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in RIO. Auto Owners Insurance Co lifted its position in shares of Rio Tinto by 77,150.0% during the first 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. Kingstone Capital Partners Texas LLC purchased a new stake in shares of Rio Tinto during the second quarter worth $292,770,000. Dimensional Fund Advisors LP lifted its position in shares of Rio Tinto by 33.9% during the first 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. Goldman Sachs Group Inc. lifted its position in shares of Rio Tinto by 4.1% during the first 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. Finally, Pacific Heights Asset Management LLC lifted its position in shares of Rio Tinto by 300.0% during the first quarter. Pacific Heights Asset Management LLC now owns 300,000 shares of the mining company’s stock worth $18,024,000 after acquiring an additional 225,000 shares in the last quarter. Hedge funds and other institutional investors own 19.33% of the company’s stock.

Rio Tinto Stock Down 0.0%

Shares of NYSE:RIO opened at $70.59 on Friday. The stock’s 50-day moving average price is $64.68 and its 200-day moving average price is $61.42. Rio Tinto PLC has a 12-month low of $51.67 and a 12-month high of $71.24. The stock has a market capitalization of $88.53 billion, a P/E ratio of 10.94, a price-to-earnings-growth ratio of 5.61 and a beta of 0.66. The company has a current ratio of 1.53, a quick ratio of 1.03 and a debt-to-equity ratio of 0.37.

Rio Tinto Cuts Dividend

The firm also recently announced a semi-annual dividend, which was paid on Thursday, September 25th. Investors of record on Friday, August 15th were paid a $1.48 dividend. 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 presently 45.74%.

Analyst Ratings Changes

RIO has been the topic of several recent research reports. Zacks Research upgraded Rio Tinto from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 6th. Berenberg Bank reiterated a “hold” rating on shares of Rio Tinto in a research report on Thursday, July 3rd. Deutsche Bank Aktiengesellschaft downgraded Rio Tinto from a “buy” rating to a “hold” rating in a research report on Wednesday, July 30th. Morgan Stanley reiterated an “overweight” rating on shares of Rio Tinto in a research report on Wednesday, October 8th. Finally, Barclays reiterated an “overweight” rating on shares of Rio Tinto in a research report on Wednesday, July 2nd. Three 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. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average 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.