Capula Management Ltd acquired a new position in Rio Tinto Group (NYSE:RIO - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 7,980 shares of the mining company's stock, valued at approximately $469,000.
Several other institutional investors also recently modified their holdings of the business. Jeppson Wealth Management LLC boosted its position 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 worth $1,182,000 after purchasing an additional 6,473 shares during the last quarter. Barclays PLC boosted its holdings in shares of Rio Tinto Group by 225.6% in 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 purchased a new position in shares of Rio Tinto Group in the 4th quarter worth about $810,000. Schroder Investment Management Group grew its position in Rio Tinto Group by 3.2% during the fourth quarter. Schroder Investment Management Group now owns 32,258 shares of the mining company's stock valued at $1,890,000 after buying an additional 1,009 shares during the period. Finally, Palliser Capital UK Ltd increased its holdings in Rio Tinto Group by 213.8% during the fourth quarter. Palliser Capital UK Ltd now owns 989,417 shares of the mining company's stock worth $58,188,000 after buying an additional 674,117 shares during the last quarter. 19.33% of the stock is owned by institutional investors.
Analyst Ratings Changes
Several research analysts have recently weighed in on RIO shares. Jefferies Financial Group cut their price target 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. DZ Bank upgraded shares of Rio Tinto Group from a "hold" rating to a "strong-buy" rating in a research report on Thursday, March 27th. JPMorgan Chase & Co. initiated coverage on shares of Rio Tinto Group in a research report on Tuesday, March 18th. They issued an "overweight" rating on the stock. Clarkson Capital raised shares of Rio Tinto Group to a "strong-buy" rating in a report on Friday, February 28th. Finally, StockNews.com lowered shares of Rio Tinto Group from a "strong-buy" rating to a "buy" rating in a research note on Saturday. Four research analysts have rated the stock with a hold rating, five have given a buy rating and three have given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $73.00.
Read Our Latest Analysis on RIO
Rio Tinto Group Price Performance
Shares of RIO traded up $1.96 during trading hours on Friday, reaching $56.83. 3,931,606 shares of the company's stock traded hands, compared to its average volume of 2,880,827. Rio Tinto Group has a 12 month low of $51.67 and a 12 month high of $74.24. The company has a current ratio of 1.63, a quick ratio of 1.16 and a debt-to-equity ratio of 0.23. The stock has a market cap of $71.26 billion, a PE ratio of 8.81, a price-to-earnings-growth ratio of 0.42 and a beta of 0.66. The firm's 50 day simple moving average is $60.99 and its 200-day simple moving average is $62.25.
Rio Tinto Group Increases Dividend
The business also recently declared a semi-annual dividend, which will be paid on Thursday, April 17th. Shareholders of record on Friday, March 7th will be paid a $2.23 dividend. This represents a yield of 7%. The ex-dividend date of this dividend is Friday, March 7th. This is a boost from Rio Tinto Group's previous semi-annual dividend of $1.77. Rio Tinto Group's payout ratio is currently 69.15%.
About Rio Tinto Group
(
Free Report)
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.
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