Rio Tinto PLC $RIO is Foresight Global Investors Inc.’s 7th Largest Position

Foresight Global Investors Inc. lifted its holdings in Rio Tinto PLC (NYSE:RIO) by 432.4% during the third quarter, Holdings Channel reports. The institutional investor owned 193,014 shares of the mining company’s stock after purchasing an additional 156,759 shares during the quarter. Rio Tinto comprises 7.6% of Foresight Global Investors Inc.’s investment portfolio, making the stock its 7th biggest holding. Foresight Global Investors Inc.’s holdings in Rio Tinto were worth $12,741,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently bought and sold shares of the business. Capital Advisors Inc. OK boosted its holdings in Rio Tinto by 20.6% during the third quarter. Capital Advisors Inc. OK now owns 520,428 shares of the mining company’s stock worth $34,353,000 after buying an additional 89,069 shares in the last quarter. QSM Asset Management Ltd acquired a new stake in shares of Rio Tinto during the 3rd quarter valued at approximately $11,509,000. Campbell & CO Investment Adviser LLC boosted its stake in shares of Rio Tinto by 479.6% during the 3rd quarter. Campbell & CO Investment Adviser LLC now owns 144,553 shares of the mining company’s stock worth $9,542,000 after acquiring an additional 119,614 shares in the last quarter. Synergy Asset Management LLC boosted its stake in shares of Rio Tinto by 272.2% during the 3rd quarter. Synergy Asset Management LLC now owns 205,418 shares of the mining company’s stock worth $12,712,000 after acquiring an additional 150,234 shares in the last quarter. Finally, Caprock Group LLC acquired a new stake in shares of Rio Tinto in the 3rd quarter worth approximately $1,416,000. Hedge funds and other institutional investors own 19.33% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on RIO shares. HSBC downgraded Rio Tinto from a “buy” rating to a “hold” rating in a research report on Monday, January 26th. Zacks Research raised shares of Rio Tinto from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 29th. DZ Bank downgraded shares of Rio Tinto from a “strong-buy” rating to a “hold” rating in a report on Friday, February 20th. 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 report on Thursday, December 11th. Finally, Royal Bank Of Canada reissued a “sector perform” rating on shares of Rio Tinto in a research note on Thursday, January 22nd. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $85.00.

Rio Tinto Stock Down 3.0%

NYSE:RIO opened at $93.41 on Friday. Rio Tinto PLC has a 12-month low of $51.67 and a 12-month high of $101.53. The company’s 50-day moving average is $91.06 and its two-hundred day moving average is $76.40. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.98 and a current ratio of 1.44.

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 given a dividend of $2.54 per share. The ex-dividend date is Friday, March 6th. This represents a yield of 544.0%.

Rio Tinto 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.