Capital International Investors Makes New $1.38 Million Investment in Rio Tinto Group (NYSE:RIO)

Capital International Investors bought a new stake in shares of Rio Tinto Group (NYSE:RIO - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 23,562 shares of the mining company's stock, valued at approximately $1,380,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Thurston Springer Miller Herd & Titak Inc. grew its holdings in 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 valued at $29,000 after purchasing an additional 195 shares in the last quarter. Rakuten Securities Inc. increased its position in shares of 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 acquiring an additional 211 shares during the last quarter. Mechanics Financial Corp purchased a new stake in Rio Tinto Group during the 4th quarter worth approximately $29,000. Golden State Wealth Management LLC purchased a new position in shares of Rio Tinto Group during the 4th quarter valued at approximately $47,000. Finally, HHM Wealth Advisors LLC acquired a new stake in shares of Rio Tinto Group during the fourth quarter worth approximately $50,000. 19.33% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

RIO has been the topic of a number of research analyst reports. DZ Bank upgraded shares of Rio Tinto Group from a "hold" rating to a "strong-buy" rating in a research note on Thursday, March 27th. Barclays reissued an "overweight" rating on shares of Rio Tinto Group in a report on Wednesday, April 16th. Clarkson Capital raised Rio Tinto Group to a "strong-buy" rating in a report on Friday, February 28th. Morgan Stanley lowered Rio Tinto Group from an "overweight" rating to an "equal weight" rating in a research report on Wednesday, April 9th. Finally, Jefferies Financial Group decreased their price objective 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. Four investment analysts have rated the stock with a hold rating, five have issued a buy rating and four have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average price target of $73.00.

Rio Tinto Group Stock Performance

RIO traded down $1.11 during trading on Friday, reaching $60.58. 2,470,704 shares of the company were exchanged, compared to its average volume of 2,864,550. Rio Tinto Group has a 52 week low of $51.67 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 $60.31 and a 200 day moving average of $61.63. The stock has a market cap of $75.97 billion, a P/E ratio of 9.39, a PEG 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. Investors of record on Friday, March 7th were given a $2.23 dividend. The ex-dividend date was Friday, March 7th. This is an increase from Rio Tinto Group's previous semi-annual dividend of $1.77. This represents a yield of 7%. Rio Tinto Group's dividend payout ratio (DPR) 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.