Private Advisor Group LLC Boosts Stock Position in Rio Tinto Group (NYSE:RIO)

Private Advisor Group LLC grew its holdings in shares of Rio Tinto Group (NYSE:RIO) by 35.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 36,921 shares of the mining company’s stock after buying an additional 9,591 shares during the quarter. Private Advisor Group LLC’s holdings in Rio Tinto Group were worth $2,171,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in RIO. Concurrent Investment Advisors LLC lifted its holdings in Rio Tinto Group by 4.3% during the 3rd quarter. Concurrent Investment Advisors LLC now owns 4,261 shares of the mining company’s stock worth $303,000 after buying an additional 175 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. raised its position in shares of Rio Tinto Group by 63.9% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 500 shares of the mining company’s stock valued at $29,000 after acquiring an additional 195 shares in the last quarter. Cohen Investment Advisors LLC lifted its stake in Rio Tinto Group by 3.8% during the fourth quarter. Cohen Investment Advisors LLC now owns 5,352 shares of the mining company’s stock worth $315,000 after purchasing an additional 198 shares during the last quarter. Mount Yale Investment Advisors LLC boosted its holdings in Rio Tinto Group by 2.0% in the fourth quarter. Mount Yale Investment Advisors LLC now owns 10,191 shares of the mining company’s stock worth $599,000 after purchasing an additional 200 shares during the period. Finally, GAMMA Investing LLC raised its holdings in shares of Rio Tinto Group by 12.2% during the fourth quarter. GAMMA Investing LLC now owns 1,861 shares of the mining company’s stock worth $109,000 after purchasing an additional 203 shares during the period. Institutional investors and hedge funds own 19.33% of the company’s stock.

Rio Tinto Group Trading Down 1.0 %

Shares of NYSE:RIO opened at $62.09 on Wednesday. Rio Tinto Group has a fifty-two week low of $57.85 and a fifty-two week high of $74.24. The company has a quick ratio of 1.16, a current ratio of 1.63 and a debt-to-equity ratio of 0.23. The company has a market cap of $77.80 billion, a PE ratio of 9.63, a P/E/G ratio of 0.42 and a beta of 0.65. The company’s 50-day moving average price is $60.65 and its 200 day moving average price is $62.93.

Rio Tinto Group Increases Dividend

The firm also recently disclosed a semi-annual dividend, which will be paid on Thursday, April 17th. Stockholders of record on Friday, March 7th will be given a dividend of $2.23 per share. The ex-dividend date is Friday, March 7th. This is an increase from Rio Tinto Group’s previous semi-annual dividend of $1.77. This represents a dividend yield of 7%. Rio Tinto Group’s payout ratio is currently 54.73%.

Wall Street Analysts Forecast Growth

RIO has been the subject of several research reports. StockNews.com lowered shares of Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a report on Saturday. Jefferies Financial Group decreased their target price on Rio Tinto Group from $83.00 to $73.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Four investment analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Rio Tinto Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $73.00.

Rio Tinto Group Profile

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.