Inspire Investing LLC Purchases New Shares in Rio Tinto PLC $RIO

Inspire Investing LLC purchased a new stake in Rio Tinto PLC (NYSE:RIO) during the second quarter, according to its most recent disclosure with the SEC. The firm purchased 3,456 shares of the mining company’s stock, valued at approximately $202,000.

Other large investors also recently bought and sold shares of the company. Live Oak Investment Partners boosted its stake in Rio Tinto by 0.8% during the second quarter. Live Oak Investment Partners now owns 19,812 shares of the mining company’s stock worth $1,156,000 after buying an additional 162 shares during the last quarter. Aspen Wealth Strategies LLC increased its stake in Rio Tinto by 3.7% during the first quarter. Aspen Wealth Strategies LLC now owns 4,810 shares of the mining company’s stock worth $289,000 after purchasing an additional 172 shares during the period. Hamilton Point Investment Advisors LLC grew its stake in shares of Rio Tinto by 0.4% in the first quarter. Hamilton Point Investment Advisors LLC now owns 44,385 shares of the mining company’s stock worth $2,767,000 after acquiring an additional 194 shares in the last quarter. Gallacher Capital Management LLC raised its position in Rio Tinto by 3.6% in the 1st quarter. Gallacher Capital Management LLC now owns 5,740 shares of the mining company’s stock valued at $345,000 after purchasing an additional 201 shares in the last quarter. Finally, Stonegate Investment Group LLC raised its holdings in shares of Rio Tinto by 3.0% in the 1st quarter. Stonegate Investment Group LLC now owns 7,025 shares of the mining company’s stock valued at $422,000 after purchasing an additional 206 shares in the last quarter. Hedge funds and other institutional investors own 19.33% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on RIO. Weiss Ratings restated a “hold (c)” rating on shares of Rio Tinto in a report on Wednesday, October 8th. Zacks Research raised Rio Tinto from a “hold” rating to a “strong-buy” rating in a report on Monday, October 6th. Berenberg Bank reaffirmed a “hold” rating on shares of Rio Tinto in a research note on Thursday, July 3rd. Morgan Stanley reaffirmed an “overweight” rating on shares of Rio Tinto in a research note on Wednesday, October 8th. Finally, Barclays restated an “overweight” rating on shares of Rio Tinto in a research report on Wednesday, July 2nd. Three research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $73.00.

Rio Tinto Stock Down 0.9%

Shares of NYSE RIO opened at $68.12 on Friday. The firm has a market cap of $85.43 billion, a price-to-earnings ratio of 10.56, a PEG ratio of 5.49 and a beta of 0.66. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.03 and a current ratio of 1.53. The stock’s 50-day simple moving average is $63.95 and its 200-day simple moving average is $60.95. Rio Tinto PLC has a 1 year low of $51.67 and a 1 year high of $69.30.

Rio Tinto Cuts Dividend

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

Rio Tinto Company Profile

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.