American Century Companies Inc. Grows Position in Rio Tinto PLC $RIO

American Century Companies Inc. raised its stake in Rio Tinto PLC (NYSE:RIOFree Report) by 15.1% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 368,680 shares of the mining company’s stock after acquiring an additional 48,369 shares during the quarter. American Century Companies Inc.’s holdings in Rio Tinto were worth $24,337,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in RIO. Salomon & Ludwin LLC increased its position in 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 purchasing an additional 181 shares in the last quarter. Root Financial Partners LLC purchased a new position in Rio Tinto in the 3rd quarter valued at about $36,000. Pinpoint Asset Management Singapore Pte. Ltd. acquired a new stake in shares of Rio Tinto during the 2nd quarter worth about $38,000. MTM Investment Management LLC acquired a new stake in shares of Rio Tinto during the 2nd quarter worth about $43,000. Finally, Wealth Preservation Advisors LLC purchased a new stake in shares of Rio Tinto during the second quarter worth about $53,000. 19.33% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on RIO. Zacks Research raised shares of Rio Tinto from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 29th. Citigroup raised shares of Rio Tinto to a “hold” rating in a research note on Tuesday, February 10th. Royal Bank Of Canada reiterated a “sector perform” rating on shares of Rio Tinto in a report on Thursday, January 22nd. Morgan Stanley lowered Rio Tinto from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, January 28th. Finally, Weiss Ratings raised Rio Tinto from a “hold (c)” rating to a “buy (b-)” rating in a research report on Friday, February 20th. One 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 company. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $85.00.

Check Out Our Latest Analysis on Rio Tinto

Rio Tinto Trading Down 3.6%

NYSE:RIO opened at $90.03 on Monday. The firm’s 50 day moving average is $91.22 and its two-hundred day moving average is $76.83. Rio Tinto PLC has a fifty-two week low of $51.67 and a fifty-two week high of $101.53. The company has a quick ratio of 0.98, a current ratio of 1.44 and a debt-to-equity ratio of 0.33.

Rio Tinto Announces Dividend

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 $2.54 dividend. This represents a dividend yield of 564.0%. The ex-dividend date of this dividend is Friday, March 6th.

Key Stories Impacting Rio Tinto

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

Rio Tinto Profile

(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.

See Also

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

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