Integrated Quantitative Investments LLC Makes New Investment in Rio Tinto Group (NYSE:RIO)

Integrated Quantitative Investments LLC bought a new position in shares of Rio Tinto Group (NYSE:RIO - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 6,300 shares of the mining company's stock, valued at approximately $371,000.

Several other institutional investors and hedge funds also recently modified their holdings of RIO. Fisher Asset Management LLC raised its position in shares of Rio Tinto Group by 0.4% during 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 purchasing an additional 76,368 shares during the last quarter. Franklin Resources Inc. raised its holdings in shares of Rio Tinto Group by 1.4% in the fourth quarter. Franklin Resources Inc. now owns 5,115,476 shares of the mining company's stock worth $300,841,000 after acquiring an additional 70,131 shares during the last quarter. Todd Asset Management LLC lifted its position in shares of Rio Tinto Group by 1.0% in the fourth quarter. Todd Asset Management LLC now owns 1,068,182 shares of the mining company's stock valued at $62,820,000 after acquiring an additional 10,062 shares in the last quarter. Palliser Capital UK Ltd boosted its stake in shares of 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 acquiring an additional 674,117 shares during the last quarter. Finally, Natixis Advisors LLC increased its position in Rio Tinto Group by 11.2% during the 4th quarter. Natixis Advisors LLC now owns 763,952 shares of the mining company's stock worth $44,928,000 after purchasing an additional 77,130 shares in the last quarter. Hedge funds and other institutional investors own 19.33% of the company's stock.

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Analysts Set New Price Targets

RIO has been the topic of a number of recent analyst reports. DZ Bank raised Rio Tinto Group from a "hold" rating to a "strong-buy" rating in a research note on Thursday, March 27th. StockNews.com raised shares of Rio Tinto Group from a "buy" rating to a "strong-buy" rating in a research report on Friday, April 4th. Clarkson Capital raised shares of Rio Tinto Group to a "strong-buy" rating in a research report on Friday, February 28th. JPMorgan Chase & Co. started coverage on Rio Tinto Group in a research note on Tuesday, March 18th. They set an "overweight" rating for the company. Finally, Jefferies Financial Group dropped 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 note on Monday, January 6th. Four analysts have rated the stock with a hold rating, four have issued a buy rating and four have given a strong buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Buy" and a consensus target price of $73.00.

Rio Tinto Group Stock Performance

Shares of RIO traded down $1.14 during midday trading on Thursday, hitting $54.47. 2,304,932 shares of the stock traded hands, compared to its average volume of 3,363,685. The business's 50 day moving average price is $61.18 and its two-hundred day moving average price is $62.48. The firm has a market capitalization of $68.31 billion, a PE ratio of 8.45, a price-to-earnings-growth ratio of 0.42 and a beta of 0.66. 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 $51.67 and a 1-year high of $74.24.

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 paid a dividend of $2.23 per share. 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 is Friday, March 7th. Rio Tinto Group's payout ratio 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.