Capital International Inc. CA lowered its stake in Rio Tinto Group (NYSE:RIO - Free Report) by 19.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 35,118 shares of the mining company's stock after selling 8,723 shares during the quarter. Capital International Inc. CA's holdings in Rio Tinto Group were worth $2,065,000 at the end of the most recent quarter.
Other hedge funds also recently bought and sold shares of the company. Thurston Springer Miller Herd & Titak Inc. lifted its holdings in shares of Rio Tinto Group by 63.9% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 500 shares of the mining company's stock worth $29,000 after acquiring an additional 195 shares during the last quarter. Rakuten Securities Inc. lifted its stake in Rio Tinto Group by 74.8% during the fourth quarter. Rakuten Securities Inc. now owns 493 shares of the mining company's stock worth $29,000 after purchasing an additional 211 shares in the last quarter. Mechanics Financial Corp purchased a new position in shares of Rio Tinto Group during the fourth quarter worth $29,000. Golden State Wealth Management LLC acquired a new stake in shares of Rio Tinto Group in the fourth quarter valued at $47,000. Finally, HHM Wealth Advisors LLC purchased a new stake in shares of Rio Tinto Group in the 4th quarter valued at $50,000. Hedge funds and other institutional investors own 19.33% of the company's stock.
Rio Tinto Group Stock Down 1.8 %
Rio Tinto Group stock traded down $1.11 during trading on Friday, reaching $60.58. The stock had a trading volume of 2,694,997 shares, compared to its average volume of 2,865,048. The company has a quick ratio of 1.16, a current ratio of 1.63 and a debt-to-equity ratio of 0.23. Rio Tinto Group has a 52-week low of $51.67 and a 52-week high of $74.24. The stock has a market cap of $75.97 billion, a PE ratio of 9.39, a P/E/G ratio of 0.42 and a beta of 0.66. The business has a 50 day moving average price of $60.24 and a 200 day moving average price of $61.59.
Rio Tinto Group Increases Dividend
The company also recently disclosed a semi-annual dividend, which was paid on Thursday, April 17th. Stockholders of record on Friday, March 7th were given a dividend of $2.23 per share. This is a boost from Rio Tinto Group's previous semi-annual dividend of $1.77. This represents a dividend yield of 7%. The ex-dividend date of this dividend was Friday, March 7th. Rio Tinto Group's payout ratio is 69.15%.
Analysts Set New Price Targets
A number of equities analysts recently commented on RIO shares. StockNews.com upgraded Rio Tinto Group from a "buy" rating to a "strong-buy" rating in a report on Sunday, April 20th. Morgan Stanley cut shares of Rio Tinto Group from an "overweight" rating to an "equal weight" rating in a report on Wednesday, April 9th. JPMorgan Chase & Co. started coverage on shares of Rio Tinto Group in a report on Tuesday, March 18th. They set an "overweight" rating on the stock. Clarkson Capital raised shares of Rio Tinto Group to a "strong-buy" rating in a research report on Friday, February 28th. Finally, Jefferies Financial Group cut their price objective on Rio Tinto Group from $83.00 to $73.00 and set a "buy" rating on the stock in a research report on Monday, January 6th. Four equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and four have assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Buy" and an average target price of $73.00.
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About Rio Tinto Group
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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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