Commons Capital LLC Makes New $1.98 Million Investment in Rio Tinto PLC $RIO

Commons Capital LLC acquired a new stake in Rio Tinto PLC (NYSE:RIOFree Report) in the third quarter, HoldingsChannel.com reports. The firm acquired 30,000 shares of the mining company’s stock, valued at approximately $1,980,000. Rio Tinto accounts for 1.3% of Commons Capital LLC’s investment portfolio, making the stock its 20th largest holding.

Several other institutional investors have also recently added to or reduced their stakes in RIO. Spire Wealth Management boosted its stake in Rio Tinto by 4.2% in the 3rd quarter. Spire Wealth Management now owns 4,258 shares of the mining company’s stock worth $281,000 after buying an additional 173 shares during the last quarter. Cornerstone Wealth Management LLC increased its stake in shares of Rio Tinto by 2.7% during the 3rd quarter. Cornerstone Wealth Management LLC now owns 6,620 shares of the mining company’s stock valued at $437,000 after acquiring an additional 174 shares during the last quarter. Salomon & Ludwin LLC lifted its holdings in shares of Rio Tinto by 62.2% during the 3rd quarter. Salomon & Ludwin LLC now owns 472 shares of the mining company’s stock worth $31,000 after acquiring an additional 181 shares during the period. Hamilton Point Investment Advisors LLC boosted its position in shares of Rio Tinto by 0.4% in the third quarter. Hamilton Point Investment Advisors LLC now owns 42,206 shares of the mining company’s stock worth $2,786,000 after acquiring an additional 182 shares during the last quarter. Finally, Nicholas Hoffman & Company LLC. boosted its position in shares of Rio Tinto by 5.2% in the third quarter. Nicholas Hoffman & Company LLC. now owns 3,830 shares of the mining company’s stock worth $253,000 after acquiring an additional 188 shares during the last quarter. 19.33% of the stock is currently owned by institutional investors and hedge funds.

Rio Tinto Price Performance

Shares of NYSE RIO opened at $99.30 on Friday. The stock has a fifty day moving average price of $89.84 and a 200 day moving average price of $75.56. 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 12-month low of $51.67 and a 12-month high of $101.53.

Rio Tinto Announces Dividend

The business also recently announced a dividend, which will be paid on Thursday, April 16th. Investors of record on Friday, March 6th will be issued a dividend of $2.54 per share. This represents a dividend yield of 527.0%. The ex-dividend date is Friday, March 6th.

Rio Tinto News Roundup

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

Wall Street Analysts Forecast Growth

RIO has been the topic of a number of recent analyst reports. DZ Bank downgraded shares of Rio Tinto from a “strong-buy” rating to a “hold” rating in a research note on Friday, February 20th. Argus increased their target price on Rio Tinto from $70.00 to $85.00 and gave the stock a “buy” rating in a research report on Thursday, December 11th. Citigroup upgraded Rio Tinto to a “hold” rating in a report on Tuesday, February 10th. Zacks Research raised Rio Tinto from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 29th. Finally, Barclays downgraded Rio Tinto from an “overweight” rating to an “equal weight” rating in a report on Tuesday, February 24th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat, Rio Tinto currently has an average rating of “Hold” and an average price target of $85.00.

Read Our Latest Analysis on Rio Tinto

About Rio Tinto

(Free Report)

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.

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

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