Confluence Investment Management LLC Decreases Holdings in Rio Tinto plc ADR (RIO)

Confluence Investment Management LLC decreased its holdings in shares of Rio Tinto plc ADR (NYSE:RIO) by 15.6% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 24,408 shares of the mining company’s stock after selling 4,516 shares during the quarter. Confluence Investment Management LLC’s holdings in Rio Tinto were worth $1,436,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in RIO. FMR LLC lifted its position in shares of Rio Tinto by 3.8% during the third quarter. FMR LLC now owns 271,670 shares of the mining company’s stock worth $13,861,000 after purchasing an additional 9,956 shares during the last quarter. Renaissance Technologies LLC bought a new position in Rio Tinto in the third quarter worth about $14,444,000. First Republic Investment Management Inc. lifted its holdings in Rio Tinto by 40.4% in the third quarter. First Republic Investment Management Inc. now owns 14,004 shares of the mining company’s stock worth $715,000 after acquiring an additional 4,029 shares during the last quarter. Verition Fund Management LLC bought a new position in Rio Tinto in the third quarter worth about $213,000. Finally, Mackenzie Financial Corp lifted its holdings in Rio Tinto by 262.5% in the third quarter. Mackenzie Financial Corp now owns 14,500 shares of the mining company’s stock worth $740,000 after acquiring an additional 10,500 shares during the last quarter. Institutional investors and hedge funds own 7.96% of the company’s stock.

Shares of NYSE RIO traded up $1.13 during mid-day trading on Friday, reaching $58.87. 2,772,284 shares of the company traded hands, compared to its average volume of 2,425,065. Rio Tinto plc ADR has a fifty-two week low of $44.62 and a fifty-two week high of $63.27. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.98 and a quick ratio of 1.65. The firm has a market capitalization of $74.88 billion, a PE ratio of 11.61 and a beta of 0.83.

The business also recently disclosed a semiannual dividend, which was paid on Thursday, April 18th. Investors of record on Friday, March 8th were paid a dividend of $1.806 per share. This represents a dividend yield of 6.19%. The ex-dividend date was Thursday, March 7th. This is a positive change from Rio Tinto’s previous semiannual dividend of $1.27. Rio Tinto’s dividend payout ratio (DPR) is currently 71.01%.

A number of brokerages have issued reports on RIO. Zacks Investment Research cut shares of Rio Tinto from a “hold” rating to a “sell” rating in a report on Saturday, January 19th. Vertical Research raised shares of Rio Tinto from a “sell” rating to a “hold” rating in a report on Thursday, April 4th. Vertical Group raised shares of Rio Tinto from a “sell” rating to a “hold” rating in a report on Thursday, April 4th. BNP Paribas cut shares of Rio Tinto from a “neutral” rating to an “underperform” rating in a report on Wednesday, April 10th. Finally, CLSA cut shares of Rio Tinto from an “outperform” rating to an “underperform” rating in a report on Thursday, February 7th. Six equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and three have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $62.33.

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Rio Tinto Company Profile

Rio Tinto plc, a mining and metals company, explores for, develops, produces, and processes minerals and metals worldwide. It finds, mines, and processes mineral resources, including aluminum, copper, diamonds, gold, iron ore, thermal and metallurgical coal, and uranium, as well as industrial minerals, such as borates, titanium dioxide, and salt.

Featured Article: Institutional Investors

Institutional Ownership by Quarter for Rio Tinto (NYSE:RIO)

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