Ovata Capital Management Ltd Grows Holdings in Rio Tinto Group (NYSE:RIO)

Ovata Capital Management Ltd lifted its stake in shares of Rio Tinto Group (NYSE:RIO - Free Report) by 7.7% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 110,021 shares of the mining company's stock after purchasing an additional 7,900 shares during the quarter. Rio Tinto Group accounts for about 2.5% of Ovata Capital Management Ltd's holdings, making the stock its 12th largest position. Ovata Capital Management Ltd's holdings in Rio Tinto Group were worth $6,495,000 as of its most recent filing with the SEC.

Several other large investors have also added to or reduced their stakes in RIO. Townsquare Capital LLC boosted its holdings in Rio Tinto Group by 13.4% in the 3rd quarter. Townsquare Capital LLC now owns 5,399 shares of the mining company's stock valued at $384,000 after purchasing an additional 637 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Rio Tinto Group by 26.0% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,084 shares of the mining company's stock valued at $77,000 after buying an additional 224 shares during the period. Hilltop Holdings Inc. grew its position in Rio Tinto Group by 11.2% during the third quarter. Hilltop Holdings Inc. now owns 4,146 shares of the mining company's stock worth $295,000 after buying an additional 416 shares in the last quarter. IHT Wealth Management LLC bought a new position in Rio Tinto Group in the 3rd quarter worth about $232,000. Finally, Polar Asset Management Partners Inc. purchased a new stake in shares of Rio Tinto Group in the 3rd quarter valued at about $2,256,000. Institutional investors own 19.33% of the company's stock.

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Rio Tinto Group Price Performance

RIO stock traded down $1.23 during trading on Thursday, reaching $54.38. The company's stock had a trading volume of 2,459,168 shares, compared to its average volume of 2,872,948. The company has a quick ratio of 1.16, a current ratio of 1.63 and a debt-to-equity ratio of 0.23. The company's fifty day moving average is $61.18 and its 200-day moving average is $62.48. The company has a market capitalization of $68.19 billion, a P/E ratio of 8.40, 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.

Rio Tinto Group Increases Dividend

The company 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 dividend of $2.23 per share. 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. This represents a dividend yield of 7%. Rio Tinto Group's dividend payout ratio (DPR) is presently 69.15%.

Wall Street Analyst Weigh In

RIO has been the subject of a number of research analyst reports. Morgan Stanley downgraded shares of Rio Tinto Group from an "overweight" rating to an "equal weight" rating in a report on Wednesday. DZ Bank upgraded shares of Rio Tinto Group from a "hold" rating to a "strong-buy" rating in a research report on Thursday, March 27th. StockNews.com upgraded shares of Rio Tinto Group from a "buy" rating to a "strong-buy" rating in a research report on Friday, April 4th. JPMorgan Chase & Co. initiated coverage on Rio Tinto Group in a report on Tuesday, March 18th. They issued an "overweight" rating on the stock. Finally, Jefferies Financial Group reduced their price target on Rio Tinto Group from $83.00 to $73.00 and set a "buy" rating on the stock in a research report on Monday, January 6th. Four equities research analysts have rated the stock with a hold rating, four have issued a buy rating and four have assigned a strong buy rating to the stock. According to data from MarketBeat, Rio Tinto Group presently has a consensus rating of "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.