Rio Tinto PLC $RIO Holdings Lifted by QRG Capital Management Inc.

QRG Capital Management Inc. raised its position in Rio Tinto PLC (NYSE:RIO) by 39.4% during the 4th quarter, Holdings Channel.com reports. The firm owned 80,940 shares of the mining company’s stock after acquiring an additional 22,893 shares during the quarter. QRG Capital Management Inc.’s holdings in Rio Tinto were worth $6,478,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in RIO. Campbell & CO Investment Adviser LLC boosted its position in Rio Tinto by 479.6% during the 3rd quarter. Campbell & CO Investment Adviser LLC now owns 144,553 shares of the mining company’s stock worth $9,542,000 after acquiring an additional 119,614 shares during the period. Caprock Group LLC acquired a new position in shares of Rio Tinto during the third quarter valued at $1,416,000. Grantham Mayo Van Otterloo & Co. LLC raised its stake in shares of 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 purchasing an additional 199,962 shares in the last quarter. Fisher Asset Management LLC lifted its holdings in Rio Tinto by 3.0% in the third quarter. Fisher Asset Management LLC now owns 19,120,168 shares of the mining company’s stock worth $1,262,122,000 after purchasing an additional 557,234 shares during the period. Finally, Shrier Wealth Management LLC bought a new position in Rio Tinto in the 4th quarter valued at about $1,280,000. 19.33% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have commented on RIO. DZ Bank downgraded shares of Rio Tinto from a “strong-buy” rating to a “hold” rating in a research report on Friday, February 20th. Barclays downgraded Rio Tinto from an “overweight” rating to an “equal weight” rating in a research report on Tuesday, February 24th. Royal Bank Of Canada reaffirmed a “sector perform” rating on shares of Rio Tinto in a research note on Thursday, January 22nd. Zacks Research cut Rio Tinto from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 7th. Finally, HSBC downgraded Rio Tinto from a “buy” rating to a “hold” rating in a research note on Monday, January 26th. Four research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $101.75.

Rio Tinto Price Performance

Shares of Rio Tinto stock opened at $100.52 on Wednesday. Rio Tinto PLC has a 12-month low of $55.64 and a 12-month high of $101.53. The company has a quick ratio of 0.98, a current ratio of 1.44 and a debt-to-equity ratio of 0.33. The stock’s fifty day moving average is $94.54 and its 200-day moving average is $85.22.

Rio Tinto Dividend Announcement

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

Rio Tinto 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.