Bell Bank Decreases Position in Rio Tinto PLC $RIO

Bell Bank trimmed its holdings in Rio Tinto PLC (NYSE:RIOFree Report) by 6.3% in the fourth quarter, HoldingsChannel.com reports. The firm owned 170,052 shares of the mining company’s stock after selling 11,454 shares during the quarter. Rio Tinto comprises about 0.6% of Bell Bank’s investment portfolio, 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.

Several other hedge funds also recently added to or reduced their stakes in the stock. Mather Group LLC. raised its holdings in Rio Tinto by 4.5% during the fourth quarter. Mather Group LLC. now owns 3,060 shares of the mining company’s stock worth $245,000 after purchasing an additional 132 shares in the last quarter. Wedmont Private Capital boosted its holdings in shares of Rio Tinto by 4.0% in the 4th quarter. Wedmont Private Capital now owns 3,780 shares of the mining company’s stock valued at $321,000 after buying an additional 147 shares in the last quarter. Spire Wealth Management grew its position in shares of Rio Tinto by 4.2% in the 3rd quarter. Spire Wealth Management now owns 4,258 shares of the mining company’s stock valued at $281,000 after buying an additional 173 shares during the last quarter. Cornerstone Wealth Management LLC grew its position in shares of Rio Tinto by 2.7% in the 3rd quarter. Cornerstone Wealth Management LLC now owns 6,620 shares of the mining company’s stock valued at $437,000 after buying an additional 174 shares during the last quarter. Finally, Salomon & Ludwin LLC raised 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. 19.33% of the stock is currently owned by hedge funds and other institutional investors.

Key Stories Impacting Rio Tinto

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

Rio Tinto Stock Up 1.0%

RIO opened at $86.65 on Friday. The business has a 50 day moving average price of $92.74 and a two-hundred day moving average price of $79.41. 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 PLC has a 52 week low of $51.67 and a 52 week high of $101.53.

Rio Tinto Dividend Announcement

The business also recently announced a dividend, which will be paid on Thursday, April 16th. Stockholders of record on Friday, March 6th will be issued a $2.54 dividend. The ex-dividend date of this dividend is Friday, March 6th. This represents a dividend yield of 564.0%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. DZ Bank cut shares of Rio Tinto from a “strong-buy” rating to a “hold” rating in a research report on Friday, February 20th. Sanford C. Bernstein cut their target price on Rio Tinto from $83.00 to $77.00 and set an “outperform” rating on the stock in a research report on Monday, March 9th. Erste Group Bank raised Rio Tinto from a “hold” rating to a “buy” rating in a report on Friday, January 23rd. Morgan Stanley cut Rio Tinto from an “overweight” rating to an “equal weight” rating in a research report on Wednesday, January 28th. Finally, HSBC downgraded Rio Tinto from a “buy” rating to a “hold” rating in a research note on Monday, January 26th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and ten have assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $81.00.

Check Out Our Latest Stock Report on Rio Tinto

Rio Tinto Company 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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