Leuthold Group LLC Purchases Shares of 50,899 Rio Tinto PLC $RIO

Leuthold Group LLC purchased a new stake in Rio Tinto PLC (NYSE:RIO) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 50,899 shares of the mining company’s stock, valued at approximately $4,073,000.

Several other institutional investors also recently modified their holdings of the stock. Fisher Asset Management LLC increased its holdings in shares of Rio Tinto by 3.0% in the third quarter. Fisher Asset Management LLC now owns 19,120,168 shares of the mining company’s stock valued at $1,262,122,000 after buying an additional 557,234 shares in the last quarter. Bank of America Corp DE increased its holdings in shares of Rio Tinto by 31.9% in the third quarter. Bank of America Corp DE now owns 3,157,545 shares of the mining company’s stock valued at $208,430,000 after buying an additional 763,786 shares in the last quarter. Bank of Montreal Can grew its position in Rio Tinto by 10.2% during the 3rd quarter. Bank of Montreal Can now owns 2,045,636 shares of the mining company’s stock worth $135,032,000 after purchasing an additional 190,029 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Rio Tinto by 9.3% during the 3rd quarter. Dimensional Fund Advisors LP now owns 2,009,293 shares of the mining company’s stock worth $132,622,000 after purchasing an additional 171,716 shares in the last quarter. Finally, Northern Trust Corp grew its position in Rio Tinto by 7.4% during the 3rd quarter. Northern Trust Corp now owns 1,672,792 shares of the mining company’s stock worth $110,421,000 after purchasing an additional 115,483 shares in the last quarter. Institutional investors own 19.33% of the company’s stock.

Analyst Ratings Changes

RIO has been the topic of several research analyst reports. JPMorgan Chase & Co. cut shares of Rio Tinto from an “overweight” rating to a “neutral” rating in a report on Monday, March 9th. HSBC cut shares of Rio Tinto from a “buy” rating to a “hold” rating in a report on Monday, January 26th. Morgan Stanley cut shares of Rio Tinto from an “overweight” rating to an “equal weight” rating in a report on Wednesday, January 28th. Royal Bank Of Canada restated a “sector perform” rating on shares of Rio Tinto in a report on Thursday, January 22nd. Finally, Zacks Research cut shares of Rio Tinto from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 7th. Four analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $101.75.

Rio Tinto Price Performance

Shares of NYSE:RIO opened at $103.63 on Friday. Rio Tinto PLC has a 1 year low of $55.64 and a 1 year high of $112.58. The firm has a fifty day moving average price of $95.95 and a 200 day moving average price of $87.22. The company has a current ratio of 1.44, a quick ratio of 0.98 and a debt-to-equity ratio of 0.33.

Rio Tinto Announces Dividend

The firm also recently disclosed a dividend, which was paid on Thursday, April 16th. Investors of record on Friday, March 6th were issued a $2.54 dividend. The ex-dividend date was Friday, March 6th. This represents a yield of 564.0%.

About Rio Tinto

Rio Tinto is a global mining and metals company that explores for, mines, processes and markets a wide range of commodities. Its principal products include iron ore, aluminum, copper, diamonds and various other minerals and industrial materials. The company’s activities span the full value chain from exploration and project development to mining, processing, smelting and refining, supplying raw materials to industries such as steelmaking, automotive, packaging, electronics and construction.

The origins of Rio Tinto date back to mining operations in the Rio Tinto region of Spain in the 19th century, and the group has since grown into a multinational enterprise.