ExodusPoint Capital Management LP Makes New Investment in Rio Tinto Group (NYSE:RIO)

ExodusPoint Capital Management LP acquired a new position in shares of Rio Tinto Group (NYSE:RIO - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 116,992 shares of the mining company's stock, valued at approximately $6,880,000.

Other institutional investors have also made changes to their positions in the company. Palliser Capital UK Ltd boosted its holdings in Rio Tinto Group by 213.8% during the fourth quarter. Palliser Capital UK Ltd now owns 989,417 shares of the mining company's stock valued at $58,188,000 after purchasing an additional 674,117 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in Rio Tinto Group in the 4th quarter valued at $29,606,000. SPX Gestao de Recursos Ltda grew its position in Rio Tinto Group by 1,773.2% in the third quarter. SPX Gestao de Recursos Ltda now owns 426,922 shares of the mining company's stock valued at $30,384,000 after acquiring an additional 404,131 shares during the period. ABC Arbitrage SA bought a new position in shares of Rio Tinto Group during the fourth quarter valued at $20,026,000. Finally, Barclays PLC grew its holdings in shares of Rio Tinto Group by 225.6% in the 3rd quarter. Barclays PLC now owns 335,637 shares of the mining company's stock worth $23,888,000 after purchasing an additional 232,539 shares during the last quarter. 19.33% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

RIO has been the topic of several research analyst reports. Jefferies Financial Group decreased their target price on Rio Tinto Group from $83.00 to $73.00 and set a "buy" rating on the stock in a report on Monday, January 6th. Clarkson Capital upgraded shares of Rio Tinto Group to a "strong-buy" rating in a research report on Friday, February 28th. 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 raised Rio Tinto Group from a "buy" rating to a "strong-buy" rating in a research report on Friday, April 4th. Finally, DZ Bank upgraded Rio Tinto Group from a "hold" rating to a "strong-buy" rating in a research report on Thursday, March 27th. Four equities research analysts have rated the stock with a hold rating, four have given a buy rating and four have given a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Buy" and an average price target of $73.00.

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Rio Tinto Group Stock Down 2.4 %

Shares of NYSE RIO traded down $1.32 during trading hours on Thursday, hitting $54.29. The company had a trading volume of 2,134,911 shares, compared to its average volume of 2,871,358. The stock has a market capitalization of $68.08 billion, a P/E ratio of 8.42, a price-to-earnings-growth ratio of 0.42 and a beta of 0.66. Rio Tinto Group has a 1-year low of $51.67 and a 1-year high of $74.24. The firm's 50 day moving average is $61.18 and its 200-day moving average is $62.48. 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 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 $2.23 dividend. This represents a dividend yield of 7%. This is a boost from Rio Tinto Group's previous semi-annual dividend of $1.77. The ex-dividend date is Friday, March 7th. Rio Tinto Group's dividend payout ratio (DPR) is presently 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.