The Manufacturers Life Insurance Company Has $5.36 Million Holdings in Rio Tinto PLC $RIO

The Manufacturers Life Insurance Company increased its holdings in Rio Tinto PLC (NYSE:RIO) by 34.6% in the first quarter, HoldingsChannel reports. The firm owned 57,478 shares of the mining company’s stock after purchasing an additional 14,776 shares during the period. The Manufacturers Life Insurance Company’s holdings in Rio Tinto were worth $5,362,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of RIO. AdvisorNet Financial Inc increased its holdings in shares of Rio Tinto by 160.2% during the 1st quarter. AdvisorNet Financial Inc now owns 294 shares of the mining company’s stock valued at $27,000 after acquiring an additional 181 shares during the last quarter. Nvest Wealth Strategies Inc. bought a new position in shares of Rio Tinto in the 4th quarter valued at approximately $28,000. Evelyn Partners Investment Management LLP acquired a new stake in Rio Tinto in the 4th quarter worth approximately $34,000. V Square Quantitative Management LLC acquired a new stake in Rio Tinto in the 1st quarter worth approximately $35,000. Finally, Glen Eagle Advisors LLC boosted its position in Rio Tinto by 32.2% during the fourth quarter. Glen Eagle Advisors LLC now owns 452 shares of the mining company’s stock worth $36,000 after purchasing an additional 110 shares during the period. 19.33% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. Weiss Ratings upgraded Rio Tinto from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday, July 30th. Berenberg Bank set a $113.00 target price on shares of Rio Tinto in a research report on Thursday, July 30th. DZ Bank raised Rio Tinto from a “hold” rating to a “strong-buy” rating in a research report on Friday, May 29th. Bank of America downgraded shares of Rio Tinto from a “buy” rating to a “neutral” rating in a report on Friday, May 22nd. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating on shares of Rio Tinto in a research report on Friday, May 15th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, six have issued a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $105.50.

Rio Tinto Stock Performance

Shares of RIO stock opened at $99.71 on Friday. The stock’s fifty day simple moving average is $96.98 and its 200 day simple moving average is $96.62. Rio Tinto PLC has a one year low of $60.22 and a one year high of $112.58. The company has a quick ratio of 0.93, a current ratio of 1.42 and a debt-to-equity ratio of 0.29.

Rio Tinto Announces Dividend

The company also recently announced a dividend, which will be paid on Thursday, September 24th. Stockholders of record on Friday, August 14th will be paid a $2.11 dividend. This represents a dividend yield of 438.0%. The ex-dividend date is Friday, August 14th.

Key Rio Tinto News

Here are the key news stories impacting Rio Tinto this week:

• Positive Sentiment: Rio Tinto and BHP were summoned to a critical-minerals meeting with President Donald Trump. The engagement could improve Rio’s access to U.S. policy support, strategic partnerships and future demand for minerals such as copper. Rio Tinto, BHP summoned to critical minerals meeting with Trump
• Positive Sentiment: Rio Tinto is emphasizing the Rhodes Ridge and Simandou developments to support long-term iron ore growth as steel demand changes. Successful execution could help offset pressure from mature operations and strengthen future production. Rio Tinto leans on Rhodes Ridge and Simandou to secure iron ore growth as demand shifts
• Neutral Sentiment: Private-equity firms including Blackstone and KKR are reportedly interested in assets involved in Rio Tinto’s potential $3 billion sale. Interest could validate asset values and generate capital, though the final proceeds and strategic impact remain uncertain. Rio Tinto’s $3B asset sale lures private equity giants
• Negative Sentiment: China’s state iron ore buyer reportedly told steel mills to stop negotiating with Rio Tinto. The move raises concerns about strained commercial relations, weaker negotiating power and possible pressure on iron ore pricing or sales volumes. China’s state iron ore buyer tells steel mills to stop negotiating with Rio Tinto
• Negative Sentiment: Zacks Research downgraded RIO from “hold” to “strong sell,” adding to analyst-driven selling pressure. Zacks Research
• Negative Sentiment: Traders purchased roughly 7,236 Rio Tinto put options, about 85% above typical daily volume. Although options activity is not definitive, it signals increased demand for downside protection or bearish speculation.

Rio Tinto Company Profile

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.