Rio Tinto Group (NYSE:RIO) Shares Purchased by Blume Capital Management Inc.

Blume Capital Management Inc. lifted its holdings in shares of Rio Tinto Group (NYSE:RIO - Free Report) by 9.8% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 65,353 shares of the mining company's stock after buying an additional 5,851 shares during the period. Blume Capital Management Inc.'s holdings in Rio Tinto Group were worth $3,843,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Fisher Asset Management LLC lifted its stake in shares of Rio Tinto Group by 0.4% in the 4th quarter. Fisher Asset Management LLC now owns 17,604,463 shares of the mining company's stock worth $1,035,319,000 after acquiring an additional 76,368 shares during the period. FMR LLC boosted its holdings in Rio Tinto Group by 35.1% in the 3rd quarter. FMR LLC now owns 1,381,766 shares of the mining company's stock valued at $98,340,000 after purchasing an additional 358,630 shares in the last quarter. Todd Asset Management LLC increased its position in Rio Tinto Group by 1.0% during the 4th quarter. Todd Asset Management LLC now owns 1,068,182 shares of the mining company's stock worth $62,820,000 after purchasing an additional 10,062 shares during the period. Palliser Capital UK Ltd raised its stake 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 buying an additional 674,117 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in shares of Rio Tinto Group in the 4th quarter valued at approximately $29,606,000. 19.33% of the stock is owned by institutional investors and hedge funds.

Remove Ads

Analysts Set New Price Targets

Several analysts have recently commented on RIO shares. Clarkson Capital raised Rio Tinto Group to a "strong-buy" rating in a report on Friday, February 28th. StockNews.com cut shares of Rio Tinto Group from a "strong-buy" rating to a "buy" rating in a research note on Saturday, February 22nd. JPMorgan Chase & Co. initiated coverage on shares of Rio Tinto Group in a research report on Tuesday. They set an "overweight" rating for the company. Finally, Jefferies Financial Group reduced 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 research report on Monday, January 6th. Three investment analysts have rated the stock with a hold rating, five have assigned a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $73.00.

Rio Tinto Group Price Performance

RIO stock traded up $0.65 on Tuesday, reaching $64.12. The company had a trading volume of 3,028,577 shares, compared to its average volume of 2,754,794. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.16 and a current ratio of 1.63. Rio Tinto Group has a 1 year low of $57.85 and a 1 year high of $74.24. The company's fifty day moving average is $61.53 and its 200 day moving average is $62.84. The company has a market cap of $80.35 billion, a P/E ratio of 9.94, a PEG ratio of 0.42 and a beta of 0.60.

Rio Tinto Group Increases Dividend

The company also recently announced a semi-annual dividend, which will be paid on Thursday, April 17th. Shareholders of record on Friday, March 7th will be issued a $2.23 dividend. This represents a yield of 7%. This is a positive change from Rio Tinto Group's previous semi-annual dividend of $1.77. The ex-dividend date of this dividend is Friday, March 7th. Rio Tinto Group's dividend payout ratio is 69.15%.

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.