Ashton Thomas Private Wealth LLC Purchases Shares of 9,413 Rio Tinto Group (NYSE:RIO)

Ashton Thomas Private Wealth LLC acquired a new position in shares of Rio Tinto Group (NYSE:RIO - Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The fund acquired 9,413 shares of the mining company's stock, valued at approximately $554,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Jeppson Wealth Management LLC boosted its stake in Rio Tinto Group by 47.5% during the 4th 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 during the last quarter. Fisher Asset Management LLC grew its stake in Rio Tinto Group by 2.9% in the third quarter. Fisher Asset Management LLC now owns 17,528,095 shares of the mining company's stock worth $1,247,475,000 after purchasing an additional 485,731 shares in the last quarter. Northwest Bancshares Inc. bought a new stake in Rio Tinto Group in the third quarter valued at about $1,440,000. Barclays PLC raised its stake in Rio Tinto Group by 225.6% during the third quarter. Barclays PLC now owns 335,637 shares of the mining company's stock valued at $23,888,000 after buying an additional 232,539 shares in the last quarter. Finally, Marshall Financial Group LLC bought a new position in Rio Tinto Group during the 4th quarter worth approximately $810,000. 19.33% of the stock is currently owned by hedge funds and other institutional investors.

Rio Tinto Group Stock Performance

Shares of RIO stock traded up $1.88 during trading hours on Friday, reaching $63.08. The stock had a trading volume of 2,725,584 shares, compared to its average volume of 3,269,111. Rio Tinto Group has a twelve month low of $57.85 and a twelve month high of $74.24. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.63 and a quick ratio of 1.16. The firm has a market capitalization of $79.04 billion, a PE ratio of 9.78, a price-to-earnings-growth ratio of 0.42 and a beta of 0.60. The firm has a 50-day simple moving average of $61.34 and a 200-day simple moving average of $62.85.

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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 69.15%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Clarkson Capital raised Rio Tinto Group to a "strong-buy" rating in a research report on Friday, February 28th. StockNews.com cut shares of Rio Tinto Group from a "strong-buy" rating to a "buy" rating in a report on Saturday, February 22nd. Finally, Jefferies Financial Group decreased 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. Three investment analysts have rated the stock with a hold rating, four have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate 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.