Anthracite Investment Company Inc. Buys Shares of 16,000 Rio Tinto Group (NYSE:RIO)

Anthracite Investment Company Inc. bought a new stake in Rio Tinto Group (NYSE:RIO - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 16,000 shares of the mining company's stock, valued at approximately $941,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Jeppson Wealth Management LLC boosted its stake in Rio Tinto Group by 47.5% in the fourth quarter. Jeppson Wealth Management LLC now owns 20,093 shares of the mining company's stock valued at $1,182,000 after acquiring an additional 6,473 shares in the last quarter. Barclays PLC grew its stake in Rio Tinto Group by 225.6% during the 3rd quarter. Barclays PLC now owns 335,637 shares of the mining company's stock worth $23,888,000 after buying an additional 232,539 shares during the last quarter. Marshall Financial Group LLC acquired a new position in Rio Tinto Group during the fourth quarter worth approximately $810,000. Palliser Capital UK Ltd increased its holdings in shares of Rio Tinto Group by 213.8% in the 4th quarter. Palliser Capital UK Ltd now owns 989,417 shares of the mining company's stock valued at $58,188,000 after acquiring an additional 674,117 shares during the period. Finally, Horizon Kinetics Asset Management LLC raised its position in Rio Tinto Group by 106.0% in the 3rd quarter. Horizon Kinetics Asset Management LLC now owns 16,266 shares of the mining company's stock valued at $1,158,000 after purchasing an additional 8,370 shares during the last quarter. Institutional investors and hedge funds own 19.33% of the company's stock.

Rio Tinto Group Price Performance

NYSE:RIO traded down $1.35 during trading hours on Friday, hitting $60.99. The company's stock had a trading volume of 4,251,667 shares, compared to its average volume of 2,832,339. Rio Tinto Group has a 52-week low of $57.85 and a 52-week high of $74.24. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.16 and a current ratio of 1.63. The business's 50-day moving average is $62.11 and its two-hundred day moving average is $62.94. The company has a market capitalization of $76.48 billion, a PE ratio of 9.46, a PEG ratio of 0.42 and a beta of 0.60.

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Rio Tinto Group Increases Dividend

The business also recently disclosed a semi-annual dividend, which will be paid on Thursday, April 17th. Investors of record on Friday, March 7th will be paid a $2.23 dividend. This is a boost from Rio Tinto Group's previous semi-annual dividend of $1.77. The ex-dividend date of this dividend is Friday, March 7th. This represents a dividend yield of 7%. Rio Tinto Group's dividend payout ratio (DPR) is 69.15%.

Wall Street Analyst Weigh In

RIO has been the topic of a number of recent research reports. JPMorgan Chase & Co. assumed coverage on shares of Rio Tinto Group in a research note on Tuesday, March 18th. They issued an "overweight" rating on the stock. Jefferies Financial Group dropped their price target on Rio Tinto Group from $83.00 to $73.00 and set a "buy" rating on the stock in a research report on Monday, January 6th. StockNews.com downgraded Rio Tinto Group from a "strong-buy" rating to a "buy" rating in a research note on Saturday, February 22nd. DZ Bank raised Rio Tinto Group from a "hold" rating to a "strong-buy" rating in a report on Thursday. Finally, Clarkson Capital raised Rio Tinto Group to a "strong-buy" rating in a report on Friday, February 28th. Three analysts have rated the stock with a hold rating, five have issued a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus target price of $73.00.

About Rio Tinto Group

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.