Rio Tinto Group (NYSE:RIO) Stock Position Reduced by Adage Capital Partners GP L.L.C.

Adage Capital Partners GP L.L.C. cut its position in Rio Tinto Group (NYSE:RIO - Free Report) by 18.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 590,000 shares of the mining company's stock after selling 135,000 shares during the quarter. Adage Capital Partners GP L.L.C.'s holdings in Rio Tinto Group were worth $34,698,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of RIO. Dorsey & Whitney Trust CO LLC boosted its stake in shares of Rio Tinto Group by 2.0% during the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 8,113 shares of the mining company's stock worth $477,000 after acquiring an additional 160 shares in the last quarter. Nemes Rush Group LLC increased its position in shares of Rio Tinto Group by 10.0% in the fourth quarter. Nemes Rush Group LLC now owns 1,855 shares of the mining company's stock valued at $109,000 after buying an additional 169 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. raised its stake 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 worth $29,000 after buying an additional 195 shares during the last quarter. Cohen Investment Advisors LLC grew its stake in Rio Tinto Group by 3.8% in the 4th quarter. Cohen Investment Advisors LLC now owns 5,352 shares of the mining company's stock valued at $315,000 after acquiring an additional 198 shares during the last quarter. Finally, Mount Yale Investment Advisors LLC increased its holdings in Rio Tinto Group by 2.0% during the 4th quarter. Mount Yale Investment Advisors LLC now owns 10,191 shares of the mining company's stock valued at $599,000 after acquiring an additional 200 shares in the last quarter. Hedge funds and other institutional investors own 19.33% of the company's stock.

Rio Tinto Group Stock Up 0.5 %

NYSE:RIO traded up $0.33 during trading hours on Monday, hitting $60.89. The stock had a trading volume of 1,795,257 shares, compared to its average volume of 2,860,150. The business has a 50 day simple moving average of $60.24 and a two-hundred day simple moving average of $61.52. Rio Tinto Group has a 1-year low of $51.67 and a 1-year 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 company has a market cap of $76.35 billion, a PE ratio of 9.44, a price-to-earnings-growth ratio of 0.42 and a beta of 0.66.

Rio Tinto Group Increases Dividend

The company also recently disclosed a semi-annual dividend, which was paid on Thursday, April 17th. Shareholders of record on Friday, March 7th were given a $2.23 dividend. This is a boost from Rio Tinto Group's previous semi-annual dividend of $1.77. This represents a yield of 7%. The ex-dividend date was Friday, March 7th. Rio Tinto Group's dividend payout ratio is presently 69.15%.

Analyst Upgrades and Downgrades

RIO has been the topic of a number of analyst reports. Barclays reaffirmed an "overweight" rating on shares of Rio Tinto Group in a research note on Wednesday, April 16th. Jefferies Financial Group lowered their price target on shares of Rio Tinto Group from $83.00 to $73.00 and set a "buy" rating for the company in a report on Monday, January 6th. JPMorgan Chase & Co. assumed coverage on shares of Rio Tinto Group in a research note on Tuesday, March 18th. They set an "overweight" rating on the stock. DZ Bank raised shares of Rio Tinto Group from a "hold" rating to a "strong-buy" rating in a research note on Thursday, March 27th. Finally, Clarkson Capital raised Rio Tinto Group to a "strong-buy" rating in a research note on Friday, February 28th. Four analysts have rated the stock with a hold rating, six have assigned a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat, Rio Tinto Group currently has a consensus rating of "Moderate Buy" and a consensus target price of $73.00.

Rio Tinto Group Company 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.