Euro Pacific Asset Management LLC Increases Position in Rio Tinto PLC $RIO

Euro Pacific Asset Management LLC increased its position in shares of Rio Tinto PLC (NYSE:RIO) by 848.2% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 46,225 shares of the mining company’s stock after acquiring an additional 41,350 shares during the quarter. Euro Pacific Asset Management LLC’s holdings in Rio Tinto were worth $2,700,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of RIO. Wayfinding Financial LLC purchased a new position in shares of Rio Tinto during the 1st quarter worth $30,000. Pandora Wealth Inc. acquired a new position in Rio Tinto in the first quarter valued at $30,000. Alpine Bank Wealth Management purchased a new position in Rio Tinto during the first quarter worth about $30,000. Bfsg LLC boosted its stake in 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 stake in Rio Tinto in the 2nd quarter valued at about $44,000. 19.33% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Morgan Stanley reiterated an “overweight” rating on shares of Rio Tinto in a report on Monday, July 14th. Berenberg Bank reiterated a “hold” rating on shares of Rio Tinto in a report on Thursday, July 3rd. Weiss Ratings restated a “hold (c)” rating on shares of Rio Tinto in a report on Saturday, September 27th. Deutsche Bank Aktiengesellschaft lowered Rio Tinto from a “buy” rating to a “hold” rating in a research report on Wednesday, July 30th. Finally, Barclays reissued an “overweight” rating on shares of Rio Tinto in a research report on Wednesday, July 2nd. Two research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Rio Tinto presently has an average rating of “Moderate Buy” and an average price target of $73.00.

Rio Tinto Stock Up 1.2%

Shares of NYSE RIO opened at $66.90 on Tuesday. The stock has a fifty day moving average price of $62.66 and a 200 day moving average price of $60.56. The company has a current ratio of 1.53, a quick ratio of 1.03 and a debt-to-equity ratio of 0.37. Rio Tinto PLC has a 12-month low of $51.67 and a 12-month high of $69.83. The company has a market cap of $83.90 billion, a P/E ratio of 10.37, a P/E/G ratio of 4.75 and a beta of 0.66.

Rio Tinto Cuts Dividend

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

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.