Valeo Financial Advisors LLC Sells 2,342 Shares of Rio Tinto PLC $RIO

Valeo Financial Advisors LLC lowered its position in shares of Rio Tinto PLC (NYSE:RIO) by 36.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,061 shares of the mining company’s stock after selling 2,342 shares during the period. Valeo Financial Advisors LLC’s holdings in Rio Tinto were worth $237,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Wayfinding Financial LLC bought a new position in shares of Rio Tinto during the first quarter valued at $30,000. Pandora Wealth Inc. purchased a new position in Rio Tinto in the 1st quarter worth about $30,000. Alpine Bank Wealth Management purchased a new position in Rio Tinto in the 1st quarter worth about $30,000. Bfsg LLC grew its stake in shares of Rio Tinto by 5,754.5% in the first quarter. Bfsg LLC now owns 644 shares of the mining company’s stock worth $39,000 after acquiring an additional 633 shares during the period. Finally, Hilltop National Bank bought a new stake in shares of Rio Tinto in the second quarter worth approximately $44,000. 19.33% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on RIO. Barclays restated an “overweight” rating on shares of Rio Tinto in a report on Wednesday, July 2nd. Weiss Ratings reissued a “hold (c)” rating on shares of Rio Tinto in a report on Wednesday. Berenberg Bank reiterated a “hold” rating on shares of Rio Tinto in a research report on Thursday, July 3rd. Zacks Research upgraded Rio Tinto from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 6th. Finally, Deutsche Bank Aktiengesellschaft downgraded Rio Tinto from a “buy” rating to a “hold” rating in a research note on Wednesday, July 30th. Three 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, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $73.00.

Rio Tinto Trading Down 2.3%

NYSE:RIO opened at $65.47 on Friday. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.53 and a quick ratio of 1.03. The firm has a market capitalization of $82.10 billion, a price-to-earnings ratio of 10.15, a price-to-earnings-growth ratio of 4.70 and a beta of 0.66. Rio Tinto PLC has a one year low of $51.67 and a one year high of $68.80. The business has a fifty day moving average price of $63.16 and a 200-day moving average price of $60.70.

Rio Tinto Cuts Dividend

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