Castle Rock Wealth Management LLC Has $376,000 Stake in Rio Tinto PLC $RIO

Castle Rock Wealth Management LLC lowered its stake in shares of Rio Tinto PLC (NYSE:RIO) by 14.0% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 6,057 shares of the mining company’s stock after selling 989 shares during the period. Castle Rock Wealth Management LLC’s holdings in Rio Tinto were worth $376,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Alpine Bank Wealth Management purchased a new position in shares of Rio Tinto in the 1st quarter worth approximately $30,000. Wayfinding Financial LLC purchased a new position in shares of Rio Tinto in the 1st quarter worth approximately $30,000. Pandora Wealth Inc. purchased a new position in shares of Rio Tinto in the 1st quarter worth approximately $30,000. Bfsg LLC boosted its stake in shares of Rio Tinto by 5,754.5% in the 1st quarter. Bfsg LLC now owns 644 shares of the mining company’s stock worth $39,000 after buying an additional 633 shares during the last quarter. Finally, Hilltop National Bank purchased a new position in shares of Rio Tinto in the 2nd quarter worth approximately $44,000. Institutional investors and hedge funds own 19.33% of the company’s stock.

Rio Tinto Trading Up 2.1%

Shares of RIO stock opened at $67.66 on Thursday. The company’s fifty day simple moving average is $62.90 and its two-hundred day simple moving average is $60.65. 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 PLC has a 1 year low of $51.67 and a 1 year high of $68.18. The stock has a market capitalization of $84.86 billion, a price-to-earnings ratio of 10.49, a PEG ratio of 4.65 and a beta of 0.66.

Rio Tinto Cuts Dividend

The firm also recently announced a semi-annual dividend, which was paid on Thursday, September 25th. Shareholders of record on Friday, August 15th were issued a dividend of $1.48 per share. The ex-dividend date of this dividend was Friday, August 15th. This represents a yield of 620.0%. Rio Tinto’s payout ratio is presently 45.74%.

Wall Street Analyst Weigh In

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

About Rio Tinto

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.