Suntrust Banks Inc. lowered its holdings in shares of Rio Tinto plc (NYSE:RIO) by 7.5% in the fourth quarter, HoldingsChannel.com reports. The firm owned 116,928 shares of the mining company’s stock after selling 9,546 shares during the period. Suntrust Banks Inc.’s holdings in Rio Tinto were worth $6,187,000 as of its most recent filing with the SEC.
Other institutional investors have also bought and sold shares of the company. Zions Bancorporation grew 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 worth $112,000 after purchasing an additional 2,304 shares during the period. The Manufacturers Life Insurance Company grew 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 worth $135,000 after purchasing an additional 2,166 shares during the period. Boston Private Wealth LLC bought a new position in Rio Tinto during the third quarter worth about $207,000. Telos Capital Management Inc. bought a new position in Rio Tinto during the third quarter worth about $211,000. Finally, Advisor Partners LLC bought a new position in Rio Tinto during the fourth quarter worth about $219,000. Institutional investors and hedge funds own 7.15% of the company’s stock.
RIO has been the subject of a number of research analyst reports. Jefferies Group set a $69.00 price target on Rio Tinto and gave the stock a “buy” rating in a report on Thursday, February 15th. Argus lifted their price target on Rio Tinto to $61.00 and gave the stock a “buy” rating in a report on Wednesday, February 14th. Zacks Investment Research upgraded Rio Tinto from a “hold” rating to a “buy” rating and set a $56.00 price target for the company in a report on Wednesday, December 20th. Citigroup reiterated a “buy” rating on shares of Rio Tinto in a report on Tuesday, December 5th. Finally, Societe Generale upgraded Rio Tinto from a “hold” rating to a “buy” rating in a report on Wednesday, November 8th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and seven have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $59.07.
Shares of Rio Tinto plc (NYSE RIO) opened at $57.07 on Friday. Rio Tinto plc has a 1-year low of $37.66 and a 1-year high of $59.25. The company has a current ratio of 1.71, a quick ratio of 1.40 and a debt-to-equity ratio of 0.30.
The company also recently disclosed a semiannual dividend, which will be paid on Thursday, April 12th. Stockholders of record on Friday, March 2nd will be issued a dividend of $1.7955 per share. This represents a dividend yield of 6.68%. The ex-dividend date is Thursday, March 1st. This is a boost from Rio Tinto’s previous semiannual dividend of $1.26.
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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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