Rio Tinto PLC $RIO Shares Purchased by Pacific Heights Asset Management LLC

Pacific Heights Asset Management LLC raised its holdings in Rio Tinto PLC (NYSE:RIO) by 30.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 425,000 shares of the mining company’s stock after purchasing an additional 100,000 shares during the period. Rio Tinto comprises 1.3% of Pacific Heights Asset Management LLC’s holdings, making the stock its 17th largest position. Pacific Heights Asset Management LLC’s holdings in Rio Tinto were worth $34,013,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Caprock Group LLC acquired a new position in Rio Tinto in the third quarter valued at $1,416,000. Grantham Mayo Van Otterloo & Co. LLC grew its position in Rio Tinto by 21.6% during the third quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 1,126,445 shares of the mining company’s stock valued at $74,357,000 after acquiring an additional 199,962 shares during the period. Shrier Wealth Management LLC purchased a new stake in Rio Tinto during the fourth quarter valued at about $1,280,000. Fisher Asset Management LLC grew its position in Rio Tinto by 3.0% during the third quarter. Fisher Asset Management LLC now owns 19,120,168 shares of the mining company’s stock valued at $1,262,122,000 after acquiring an additional 557,234 shares during the period. Finally, Commons Capital LLC purchased a new stake in Rio Tinto during the third quarter valued at about $1,980,000. Hedge funds and other institutional investors own 19.33% of the company’s stock.

Rio Tinto Trading Down 0.1%

RIO stock opened at $103.63 on Monday. The company has a current ratio of 1.44, a quick ratio of 0.98 and a debt-to-equity ratio of 0.33. Rio Tinto PLC has a 1 year low of $55.64 and a 1 year high of $112.58. The stock has a 50-day simple moving average of $95.95 and a 200-day simple moving average of $87.33.

Rio Tinto Dividend Announcement

The business also recently announced a dividend, which was paid on Thursday, April 16th. Stockholders of record on Friday, March 6th were paid a $2.54 dividend. The ex-dividend date was Friday, March 6th. This represents a dividend yield of 564.0%.

Analyst Ratings Changes

RIO has been the subject of a number of research reports. Royal Bank Of Canada reissued a “sector perform” rating on shares of Rio Tinto in a research report on Thursday, January 22nd. Zacks Research downgraded Rio Tinto from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 7th. Citigroup reissued a “neutral” rating on shares of Rio Tinto in a research report on Monday, April 13th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating on shares of Rio Tinto in a research report on Friday. Finally, HSBC downgraded Rio Tinto from a “buy” rating to a “hold” rating in a research report on Monday, January 26th. Four research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company’s stock. According to MarketBeat, Rio Tinto has a consensus rating of “Hold” and an average price target of $101.75.

Rio Tinto Company Profile

Rio Tinto is a global mining and metals company that explores for, mines, processes and markets a wide range of commodities. Its principal products include iron ore, aluminum, copper, diamonds and various other minerals and industrial materials. The company’s activities span the full value chain from exploration and project development to mining, processing, smelting and refining, supplying raw materials to industries such as steelmaking, automotive, packaging, electronics and construction.

The origins of Rio Tinto date back to mining operations in the Rio Tinto region of Spain in the 19th century, and the group has since grown into a multinational enterprise.