Rio Tinto Group (NYSE:RIO) Position Boosted by American Century Companies Inc.

American Century Companies Inc. raised its stake in shares of Rio Tinto Group (NYSE:RIO - Free Report) by 6.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 269,070 shares of the mining company's stock after buying an additional 16,218 shares during the quarter. American Century Companies Inc.'s holdings in Rio Tinto Group were worth $15,824,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Jeppson Wealth Management LLC boosted its holdings in shares of Rio Tinto Group by 47.5% during 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 Rio Tinto Group by 225.6% in the third quarter. Barclays PLC now owns 335,637 shares of the mining company's stock valued at $23,888,000 after acquiring an additional 232,539 shares during the last quarter. Marshall Financial Group LLC acquired a new position in Rio Tinto Group in the fourth quarter valued at $810,000. Palliser Capital UK Ltd grew its holdings in shares of Rio Tinto Group by 213.8% during the 4th quarter. Palliser Capital UK Ltd now owns 989,417 shares of the mining company's stock worth $58,188,000 after purchasing an additional 674,117 shares during the period. Finally, Tidal Investments LLC increased its position in shares of Rio Tinto Group by 16.2% in the third quarter. Tidal Investments LLC now owns 122,623 shares of the mining company's stock worth $8,727,000 after acquiring an additional 17,052 shares in the last quarter. Hedge funds and other institutional investors own 19.33% of the company's stock.

Remove Ads

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on RIO shares. JPMorgan Chase & Co. began coverage on Rio Tinto Group in a research note on Tuesday, March 18th. They issued an "overweight" rating for the company. StockNews.com downgraded shares of Rio Tinto Group from a "strong-buy" rating to a "buy" rating in a research note on Saturday, February 22nd. Jefferies Financial Group dropped their price target on shares of Rio Tinto Group from $83.00 to $73.00 and set a "buy" rating on the stock in a research note on Monday, January 6th. DZ Bank raised shares of Rio Tinto Group from a "hold" rating to a "strong-buy" rating in a research report on Thursday, March 27th. Finally, Clarkson Capital upgraded Rio Tinto Group to a "strong-buy" rating in a research note on Friday, February 28th. Three equities research analysts have rated the stock with a hold rating, five have given a buy rating and three have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Buy" and an average target price of $73.00.

Rio Tinto Group Stock Performance

RIO traded down $1.44 during trading on Thursday, reaching $58.47. 4,255,459 shares of the company were exchanged, compared to its average volume of 2,842,346. Rio Tinto Group has a 52 week low of $57.85 and a 52 week 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 firm has a 50 day moving average of $62.04 and a 200 day moving average of $62.91. The stock has a market cap of $73.31 billion, a P/E ratio of 9.06, a PEG ratio of 0.42 and a beta of 0.60.

Rio Tinto Group Increases Dividend

The company also recently declared 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 of this dividend is Friday, March 7th. This represents a dividend yield of 7%. This is a positive change from Rio Tinto Group's previous semi-annual dividend of $1.77. Rio Tinto Group's dividend payout ratio is currently 69.15%.

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.