Bell Bank Lowers Stock Holdings in Rio Tinto PLC $RIO

Bell Bank cut its position in Rio Tinto PLC (NYSE:RIOFree Report) by 6.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 170,052 shares of the mining company’s stock after selling 11,454 shares during the quarter. Rio Tinto accounts for 0.6% of Bell Bank’s holdings, making the stock its 20th largest holding. Bell Bank’s holdings in Rio Tinto were worth $13,609,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Salomon & Ludwin LLC lifted its stake 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 acquiring an additional 181 shares in the last quarter. Root Financial Partners LLC acquired a new position in Rio Tinto in the 3rd quarter valued at about $36,000. Triumph Capital Management purchased a new stake in Rio Tinto during the third quarter worth about $38,000. Strategic Advocates LLC acquired a new stake in shares of Rio Tinto during the third quarter worth about $44,000. Finally, Larson Financial Group LLC lifted its position in shares of Rio Tinto by 342.9% during the third quarter. Larson Financial Group LLC now owns 775 shares of the mining company’s stock worth $51,000 after purchasing an additional 600 shares in the last quarter. Hedge funds and other institutional investors own 19.33% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently commented on the stock. HSBC lowered shares of Rio Tinto from a “buy” rating to a “hold” rating in a research note on Monday, January 26th. Sanford C. Bernstein reduced their target price on shares of Rio Tinto from $83.00 to $77.00 and set an “outperform” rating on the stock in a report on Monday, March 9th. Royal Bank Of Canada reissued a “sector perform” rating on shares of Rio Tinto in a research report on Thursday, January 22nd. Weiss Ratings upgraded shares of Rio Tinto from a “hold (c)” rating to a “buy (b-)” rating in a research note on Friday, February 20th. Finally, DZ Bank lowered Rio Tinto from a “strong-buy” rating to a “hold” rating in a research report on Friday, February 20th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and ten have issued a Hold rating to the company. According to MarketBeat, Rio Tinto currently has a consensus rating of “Hold” and an average price target of $81.00.

View Our Latest Stock Report on RIO

Rio Tinto Price Performance

Rio Tinto stock opened at $86.65 on Friday. The company has a quick ratio of 0.98, a current ratio of 1.44 and a debt-to-equity ratio of 0.33. The company has a fifty day simple moving average of $92.74 and a 200-day simple moving average of $79.41. Rio Tinto PLC has a 12-month low of $51.67 and a 12-month high of $101.53.

Rio Tinto Announces Dividend

The firm also recently declared a dividend, which will be paid on Thursday, April 16th. Shareholders of record on Friday, March 6th will be issued a dividend of $2.54 per share. This represents a 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:

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.

See Also

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

Receive News & Ratings for Rio Tinto Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Rio Tinto and related companies with MarketBeat.com's FREE daily email newsletter.