Chesapeake Capital Corp IL Invests $965,000 in Rio Tinto PLC $RIO

Chesapeake Capital Corp IL bought a new position in Rio Tinto PLC (NYSE:RIO) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 14,620 shares of the mining company’s stock, valued at approximately $965,000.

A number of other institutional investors have also added to or reduced their stakes in the company. Cubist Systematic Strategies LLC bought a new position in shares of Rio Tinto during the 1st quarter valued at about $84,000. AQR Capital Management LLC lifted its position in Rio Tinto by 78.4% in the 1st quarter. AQR Capital Management LLC now owns 12,087 shares of the mining company’s stock worth $726,000 after buying an additional 5,310 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Rio Tinto by 20.7% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,485 shares of the mining company’s stock worth $690,000 after buying an additional 1,968 shares in the last quarter. Empowered Funds LLC boosted its stake in Rio Tinto by 5.8% in the first quarter. Empowered Funds LLC now owns 5,280 shares of the mining company’s stock worth $317,000 after buying an additional 288 shares in the last quarter. Finally, Focus Partners Wealth grew its position in Rio Tinto by 16.7% during the first quarter. Focus Partners Wealth now owns 15,985 shares of the mining company’s stock valued at $962,000 after acquiring an additional 2,285 shares during the last quarter. Institutional investors own 19.33% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on RIO. Weiss Ratings upgraded shares of Rio Tinto from a “hold (c)” rating to a “buy (b-)” rating in a report on Friday, February 20th. Sanford C. Bernstein reduced their target price on shares of Rio Tinto from $83.00 to $77.00 and set an “outperform” rating on the stock in a report on Monday, March 9th. JPMorgan Chase & Co. cut shares of Rio Tinto from an “overweight” rating to a “neutral” rating in a research report on Monday, March 9th. Morgan Stanley downgraded shares of Rio Tinto from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, January 28th. Finally, Argus upped their price target on shares of Rio Tinto from $70.00 to $85.00 and gave the company a “buy” rating in a research report on Thursday, December 11th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $81.00.

Rio Tinto Stock Performance

Shares of RIO stock opened at $87.83 on Friday. 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 fifty-two week low of $51.67 and a fifty-two week high of $101.53. The stock has a 50 day moving average price of $92.23 and a two-hundred day moving average price of $77.62.

Rio Tinto Dividend Announcement

The company also recently announced a dividend, which will be paid on Thursday, April 16th. Investors of record on Friday, March 6th will be paid a $2.54 dividend. This represents a dividend yield of 564.0%. The ex-dividend date of this dividend is Friday, March 6th.

More Rio Tinto News

Here are the key news stories impacting Rio Tinto this week:

• Positive Sentiment: Partnership to supply low?carbon aluminum for data centers with Prysmian/ELYSIS supports premium product positioning and decarbonization credentials, which can help demand and pricing for Rio’s higher?margin low?carbon aluminum. Rio Tinto, Prysmian partner on low-carbon aluminum solutions for data centers
• Positive Sentiment: Memorandum of Understanding with CATL on battery recycling and zero?carbon mining advances Rio’s circular battery strategy and long?term access to battery value chains — a strategic growth/ESG positive. Rio Tinto CATL Deal Highlights Push Into Circular Battery And Mining Model
• Positive Sentiment: Rio and Chinalco cleared a regulatory hurdle in a Brazil aluminum deal, reducing execution risk on that transaction and supporting Rio’s aluminum footprint. Rio Tinto, Chinalco clear hurdle in Brazil aluminum deal
• Positive Sentiment: Rio raised its Q2 Japan aluminum offer to the highest premium since 2015, signaling strong near?term aluminum pricing and potential immediate revenue upside. Rio Tinto raises Q2 Japan aluminum offer to highest premium since 2015
• Neutral Sentiment: Australian suppliers secured $385m EFA support for the Rincón project — improves project finance optics but execution and timing remain uncertain. Australian suppliers tap Rio Tinto’s Rincón project with $385m EFA support
• Neutral Sentiment: Progress at the Smart Creek JV and other exploration advances keep optional upside from new discoveries, but these are longer?dated and speculative for near?term earnings. Domestic Metals Advances Rio Tinto JV Smart Creek Project, Eyes Major Discovery
• Negative Sentiment: Rio is slowing and delaying construction of its Quebec lithium processing plant as costs have surged — this raises capital intensity, delays expected lithium supply/revenue and increases short?term execution risk. Rio Tinto slows pace of construction on Quebec lithium processing plant
• Negative Sentiment: A fatal contractor incident at the Kennecott (Bingham Canyon) copper mine prompted an operational suspension while investigations proceed — immediate production disruption, regulatory scrutiny and worker?safety concerns are driving downside sentiment. Fatal incident at Rio Tinto Kennecott

About Rio Tinto

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.