Norges Bank acquired a new position in Rio Tinto Group (NYSE:RIO - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 7,353 shares of the mining company's stock, valued at approximately $432,000.
Other institutional investors have also recently bought and sold shares of the company. Thurston Springer Miller Herd & Titak Inc. raised its stake in Rio Tinto Group by 63.9% in the fourth 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. lifted its holdings in shares of Rio Tinto Group by 74.8% during the 4th 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 period. Golden State Wealth Management LLC acquired a new stake in shares of Rio Tinto Group during the 4th quarter worth approximately $47,000. HHM Wealth Advisors LLC acquired a new stake in shares of Rio Tinto Group during the 4th quarter worth approximately $50,000. Finally, FSC Wealth Advisors LLC increased its stake in Rio Tinto Group by 150.0% in the fourth quarter. FSC Wealth Advisors LLC now owns 1,000 shares of the mining company's stock valued at $59,000 after acquiring an additional 600 shares during the last quarter. Institutional investors own 19.33% of the company's stock.
Wall Street Analyst Weigh In
Several equities research analysts have weighed in on RIO shares. Jefferies Financial Group cut their target price on 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. StockNews.com lowered Rio Tinto Group from a "strong-buy" rating to a "buy" rating in a research note on Saturday. Clarkson Capital raised Rio Tinto Group to a "strong-buy" rating in a research note on Friday, February 28th. 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. Finally, Morgan Stanley lowered shares of Rio Tinto Group from an "overweight" rating to an "equal weight" rating in a report on Wednesday, April 9th. Four analysts have rated the stock with a hold rating, five have issued a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat.com, Rio Tinto Group presently has a consensus rating of "Moderate Buy" and a consensus price target of $73.00.
View Our Latest Stock Analysis on Rio Tinto Group
Rio Tinto Group Trading Up 0.3 %
NYSE:RIO traded up $0.15 during mid-day trading on Tuesday, hitting $57.16. 2,807,116 shares of the company's stock were exchanged, compared to its average volume of 2,881,328. The company has a 50 day simple moving average of $60.90 and a 200-day simple moving average of $62.15. The firm has a market capitalization of $71.67 billion, a P/E ratio of 8.86, a PEG ratio of 0.42 and a beta of 0.66. Rio Tinto Group has a fifty-two week low of $51.67 and a fifty-two 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.
Rio Tinto Group Increases Dividend
The business also recently announced a semi-annual dividend, which will be paid on Thursday, April 17th. Investors of record on Friday, March 7th will be given a dividend of $2.23 per share. This is a positive change from Rio Tinto Group's previous semi-annual dividend of $1.77. This represents a yield of 7%. The ex-dividend date of this dividend is Friday, March 7th. Rio Tinto Group's dividend payout ratio (DPR) is currently 69.15%.
Rio Tinto Group Profile
(
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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