Two Sigma Advisers LP trimmed its holdings in shares of Rio Tinto plc (NYSE:RIO) by 4.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 815,800 shares of the mining company’s stock after selling 38,200 shares during the quarter. Two Sigma Advisers LP owned approximately 0.06% of Rio Tinto worth $43,180,000 as of its most recent SEC filing.
Other hedge funds have also modified their holdings of the company. Zions Bancorporation increased its holdings in Rio Tinto by 2,992.2% during the third quarter. Zions Bancorporation now owns 2,381 shares of the mining company’s stock valued at $112,000 after buying an additional 2,304 shares during the period. The Manufacturers Life Insurance Company increased its holdings in Rio Tinto by 212.1% during the second quarter. The Manufacturers Life Insurance Company now owns 3,187 shares of the mining company’s stock valued at $135,000 after buying an additional 2,166 shares during the period. Boston Private Wealth LLC purchased a new position in Rio Tinto during the third quarter valued at approximately $207,000. Mackenzie Financial Corp purchased a new position in Rio Tinto during the fourth quarter valued at approximately $212,000. Finally, Advisor Partners LLC purchased a new position in Rio Tinto during the fourth quarter valued at approximately $219,000. 7.20% of the stock is currently owned by institutional investors.
Shares of Rio Tinto plc (RIO) opened at $52.60 on Friday. Rio Tinto plc has a one year low of $37.66 and a one year high of $59.25. The company has a quick ratio of 1.40, a current ratio of 1.71 and a debt-to-equity ratio of 0.30.
The company also recently announced a semiannual dividend, which will be paid on Thursday, April 12th. Shareholders of record on Friday, March 2nd will be paid a $1.7955 dividend. This represents a yield of 6.68%. This is an increase from Rio Tinto’s previous semiannual dividend of $1.26. The ex-dividend date is Thursday, March 1st.
RIO has been the topic of several research reports. HSBC lowered shares of Rio Tinto from a “buy” rating to a “hold” rating in a report on Tuesday, January 16th. Bank of America lowered shares of Rio Tinto from a “buy” rating to a “neutral” rating in a report on Tuesday, February 20th. Zacks Investment Research downgraded shares of Rio Tinto from a “buy” rating to a “hold” rating in a research note on Wednesday, December 13th. Cowen restated a “market perform” rating and issued a $61.00 target price (up from $54.00) on shares of Rio Tinto in a research note on Thursday, January 18th. Finally, UBS Group restated a “buy” rating on shares of Rio Tinto in a research note on Monday, March 5th. One analyst has rated the stock with a sell rating, nine have given a hold rating and eight have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $59.07.
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Rio Tinto Company Profile
Rio Tinto plc is a mining and metals company. The Company’s business is finding, mining and processing mineral resources. The Company’s segments include Iron Ore, Aluminium, Copper & Diamonds, Energy & Minerals and Other Operations. The Company operates an iron ore business, supplying the global seaborne iron ore trade.
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