American Century Companies Inc. Raises Stock Holdings in Rio Tinto PLC $RIO

American Century Companies Inc. increased its position in Rio Tinto PLC (NYSE:RIO) by 4.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 280,047 shares of the mining company’s stock after buying an additional 10,977 shares during the quarter. American Century Companies Inc.’s holdings in Rio Tinto were worth $16,825,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in RIO. Auto Owners Insurance Co increased its stake in shares of Rio Tinto by 77,150.0% in the first quarter. Auto Owners Insurance Co now owns 7,416,000 shares of the mining company’s stock worth $445,553,000 after buying an additional 7,406,400 shares during the period. Deutsche Bank AG increased its stake in shares of Rio Tinto by 143,872.8% in the fourth quarter. Deutsche Bank AG now owns 1,264,081 shares of the mining company’s stock worth $74,341,000 after buying an additional 1,263,203 shares during the period. Dynamo Internacional Gestao DE Recursos LTDA. increased its stake in shares of Rio Tinto by 119.2% in the fourth quarter. Dynamo Internacional Gestao DE Recursos LTDA. now owns 129,804 shares of the mining company’s stock worth $2,423,000 after buying an additional 807,610 shares during the period. Paloma Partners Management Co purchased a new position in shares of Rio Tinto in the fourth quarter worth $40,032,000. Finally, Dimensional Fund Advisors LP increased its stake in shares of Rio Tinto by 33.9% in the first quarter. Dimensional Fund Advisors LP now owns 1,938,247 shares of the mining company’s stock worth $116,510,000 after buying an additional 490,357 shares during the period. 19.33% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

RIO has been the topic of several analyst reports. Deutsche Bank Aktiengesellschaft downgraded shares of Rio Tinto from a “buy” rating to a “hold” rating in a research note on Wednesday, July 30th. Barclays reissued an “overweight” rating on shares of Rio Tinto in a research report on Wednesday, July 2nd. Berenberg Bank reissued a “hold” rating on shares of Rio Tinto in a research report on Thursday, July 3rd. Morgan Stanley reissued an “overweight” rating on shares of Rio Tinto in a research report on Monday, July 14th. Finally, Jefferies Financial Group reissued a “hold” rating on shares of Rio Tinto in a research report on Tuesday, June 3rd. Two analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $73.00.

Rio Tinto Stock Performance

Shares of RIO stock opened at $62.6460 on Monday. Rio Tinto PLC has a 12 month low of $51.67 and a 12 month high of $72.08. The stock has a market cap of $78.57 billion, a PE ratio of 9.71 and a beta of 0.64. The company has a current ratio of 1.53, a quick ratio of 1.03 and a debt-to-equity ratio of 0.37. The company’s fifty day moving average price is $60.10 and its 200-day moving average price is $60.34.

Rio Tinto Cuts Dividend

The firm also recently announced a semi-annual dividend, which will be paid on Thursday, September 25th. Stockholders of record on Friday, August 15th will be issued a dividend of $1.48 per share. This represents a dividend yield of 620.0%. The ex-dividend date is Friday, August 15th. Rio Tinto’s payout ratio is 45.74%.

About Rio Tinto

Rio Tinto Group engages in exploring, mining, and processing mineral resources worldwide. The company operates through Iron Ore, Aluminium, Copper, and Minerals Segments. The Iron Ore segment engages in the iron ore mining, and salt and gypsum production in Western Australia. The Aluminum segment is involved in bauxite mining; alumina refining; and aluminium smelting.