Horizon Kinetics Asset Management LLC Has $1.43 Million Stake in Rio Tinto Group (NYSE:RIO)

Horizon Kinetics Asset Management LLC lifted its stake in shares of Rio Tinto Group (NYSE:RIO - Free Report) by 49.8% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 24,366 shares of the mining company's stock after purchasing an additional 8,100 shares during the quarter. Horizon Kinetics Asset Management LLC's holdings in Rio Tinto Group were worth $1,433,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the stock. Palliser Capital UK Ltd raised its position 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. bought a new position in shares of Rio Tinto Group in the 4th quarter valued at $29,606,000. Fisher Asset Management LLC raised its holdings in shares of Rio Tinto Group by 2.9% during the 3rd quarter. Fisher Asset Management LLC now owns 17,528,095 shares of the mining company's stock worth $1,247,475,000 after buying an additional 485,731 shares in the last quarter. SPX Gestao de Recursos Ltda lifted its position in shares of Rio Tinto Group by 1,773.2% during the 3rd quarter. SPX Gestao de Recursos Ltda now owns 426,922 shares of the mining company's stock worth $30,384,000 after buying an additional 404,131 shares during the last quarter. Finally, FMR LLC boosted its stake in Rio Tinto Group by 35.1% in the third quarter. FMR LLC now owns 1,381,766 shares of the mining company's stock valued at $98,340,000 after buying an additional 358,630 shares in the last quarter. Institutional investors own 19.33% of the company's stock.

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Rio Tinto Group Trading Down 1.4 %

NYSE RIO traded down $0.91 on Friday, hitting $62.02. The company's stock had a trading volume of 3,703,863 shares, compared to its average volume of 3,240,654. The company's 50-day moving average is $61.84 and its 200 day moving average is $62.85. The firm has a market cap of $77.71 billion, a PE ratio of 9.61, a PEG ratio of 0.42 and a beta of 0.60. Rio Tinto Group has a 1-year low of $57.85 and a 1-year high of $74.24. 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 business 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 dividend of $2.23 per share. The ex-dividend date of this dividend is 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 payout ratio is presently 69.15%.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. Clarkson Capital raised shares of Rio Tinto Group to a "strong-buy" rating in a report on Friday, February 28th. JPMorgan Chase & Co. began coverage on shares of Rio Tinto Group in a research note on Tuesday. They issued an "overweight" rating for the company. Jefferies Financial Group decreased their target price on shares of Rio Tinto Group from $83.00 to $73.00 and set a "buy" rating on the stock in a research note on Monday, January 6th. Finally, StockNews.com cut Rio Tinto Group from a "strong-buy" rating to a "buy" rating in a research note on Saturday, February 22nd. Three investment analysts have rated the stock with a hold rating, five have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, Rio Tinto Group has an average rating of "Moderate Buy" and a consensus price target of $73.00.

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.