Passumpsic Savings Bank Takes Position in Rio Tinto PLC $RIO

Passumpsic Savings Bank bought a new stake in Rio Tinto PLC (NYSE:RIO) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 10,056 shares of the mining company’s stock, valued at approximately $805,000.

A number of other hedge funds have also modified their holdings of the business. Wealth Quarterback LLC increased its position in Rio Tinto by 1.8% during the fourth quarter. Wealth Quarterback LLC now owns 6,532 shares of the mining company’s stock worth $523,000 after purchasing an additional 118 shares during the last quarter. Bailard Inc. increased its position in Rio Tinto by 1.1% during the fourth quarter. Bailard Inc. now owns 12,306 shares of the mining company’s stock worth $985,000 after purchasing an additional 128 shares during the last quarter. IVC Wealth Advisors LLC increased its position in Rio Tinto by 1.2% during the fourth quarter. IVC Wealth Advisors LLC now owns 10,963 shares of the mining company’s stock worth $877,000 after purchasing an additional 129 shares during the last quarter. Mather Group LLC. increased its position in Rio Tinto by 4.5% during the fourth quarter. Mather Group LLC. now owns 3,060 shares of the mining company’s stock worth $245,000 after purchasing an additional 132 shares during the last quarter. Finally, American Capital Advisory LLC increased its position in Rio Tinto by 1.0% during the fourth quarter. American Capital Advisory LLC now owns 13,492 shares of the mining company’s stock worth $1,080,000 after purchasing an additional 132 shares during the last quarter. 19.33% of the stock is currently owned by institutional investors and hedge funds.

Rio Tinto Trading Down 0.1%

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

Rio Tinto Announces Dividend

The firm also recently disclosed 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 of this dividend was Friday, March 6th. This represents a dividend yield of 564.0%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on RIO shares. Sanford C. Bernstein raised their price objective on shares of Rio Tinto from $82.00 to $83.50 and gave the stock an “outperform” rating in a research report on Monday, April 27th. Citigroup restated a “neutral” rating on shares of Rio Tinto in a research report on Monday, April 13th. DZ Bank cut shares of Rio Tinto from a “strong-buy” rating to a “hold” rating in a research report on Friday, February 20th. Weiss Ratings upgraded shares of Rio Tinto from a “hold (c)” rating to a “buy (b-)” rating in a research report on Friday, February 20th. Finally, Royal Bank Of Canada restated a “sector perform” rating on shares of Rio Tinto in a research report on Thursday, January 22nd. Four research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Rio Tinto has an average 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.