Potentia Wealth Takes Position in Rio Tinto Group (NYSE:RIO)

Potentia Wealth purchased a new position in shares of Rio Tinto Group (NYSE:RIO - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 11,154 shares of the mining company's stock, valued at approximately $656,000.

Several other hedge funds have also recently added to or reduced their stakes in RIO. Thurston Springer Miller Herd & Titak Inc. grew its holdings in shares of Rio Tinto Group by 63.9% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 500 shares of the mining company's stock worth $29,000 after buying an additional 195 shares in the last quarter. Rakuten Securities Inc. boosted its position in Rio Tinto Group by 74.8% during the fourth 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 last quarter. Golden State Wealth Management LLC purchased a new stake in Rio Tinto Group during the 4th quarter valued at about $47,000. HHM Wealth Advisors LLC acquired a new stake in Rio Tinto Group in the 4th quarter valued at about $50,000. Finally, FSC Wealth Advisors LLC lifted its stake in Rio Tinto Group by 150.0% in the 4th quarter. FSC Wealth Advisors LLC now owns 1,000 shares of the mining company's stock worth $59,000 after purchasing an additional 600 shares in the last quarter. 19.33% of the stock is owned by institutional investors and hedge funds.

Rio Tinto Group Trading Down 2.2 %

Shares of NYSE RIO traded down $1.36 during mid-day trading on Friday, reaching $60.98. 3,161,401 shares of the company's stock were exchanged, compared to its average volume of 2,829,915. The company's 50-day moving average is $62.11 and its 200-day moving average is $62.91. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.16 and a current ratio of 1.63. The firm has a market capitalization of $76.47 billion, a price-to-earnings ratio of 9.45, a PEG ratio of 0.42 and a beta of 0.60. Rio Tinto Group has a 52-week low of $57.85 and a 52-week high of $74.24.

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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 paid a dividend of $2.23 per share. This represents a yield of 7%. The ex-dividend date is Friday, March 7th. This is a positive change from Rio Tinto Group's previous semi-annual dividend of $1.77. Rio Tinto Group's dividend payout ratio (DPR) is 69.15%.

Analyst Ratings Changes

Several research firms recently commented on RIO. Jefferies Financial Group cut their price target on Rio Tinto Group from $83.00 to $73.00 and set a "buy" rating for the company in a report on Monday, January 6th. JPMorgan Chase & Co. started coverage on Rio Tinto Group in a research note on Tuesday, March 18th. They issued an "overweight" rating for the company. Clarkson Capital raised shares of Rio Tinto Group to a "strong-buy" rating in a research report on Friday, February 28th. Finally, StockNews.com cut shares of Rio Tinto Group from a "strong-buy" rating to a "buy" rating in a research report on Saturday, February 22nd. Three equities research analysts have rated the stock with a hold rating, five have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Rio Tinto Group presently has a consensus rating of "Moderate Buy" and an average target price of $73.00.

Rio Tinto Group Company 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.