Renaissance Technologies LLC Has $27.72 Million Stake in Rio Tinto Group (NYSE:RIO)

Renaissance Technologies LLC boosted its holdings in shares of Rio Tinto Group (NYSE:RIO - Free Report) by 113.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 471,400 shares of the mining company's stock after buying an additional 250,800 shares during the period. Renaissance Technologies LLC's holdings in Rio Tinto Group were worth $27,723,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Thurston Springer Miller Herd & Titak Inc. grew 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. grew its position in Rio Tinto Group by 74.8% in the 4th quarter. Rakuten Securities Inc. now owns 493 shares of the mining company's stock worth $29,000 after purchasing an additional 211 shares during the last quarter. Mechanics Financial Corp bought a new position in Rio Tinto Group during the fourth quarter valued at about $29,000. Golden State Wealth Management LLC bought a new stake in shares of Rio Tinto Group during the fourth quarter valued at approximately $47,000. Finally, HHM Wealth Advisors LLC acquired a new position in shares of Rio Tinto Group in the 4th quarter valued at $50,000. 19.33% of the stock is owned by hedge funds and other institutional investors.

Rio Tinto Group Stock Down 0.2 %

NYSE:RIO traded down $0.13 during trading hours on Wednesday, reaching $57.13. 2,832,203 shares of the stock were exchanged, compared to its average volume of 2,877,381. The firm has a 50 day moving average of $60.80 and a 200 day moving average of $62.12. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.63 and a quick ratio of 1.16. The stock has a market cap of $71.64 billion, a PE ratio of 8.86, a PEG ratio of 0.42 and a beta of 0.66. Rio Tinto Group has a twelve month low of $51.67 and a twelve month high of $74.24.

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Rio Tinto Group Increases Dividend

The business also recently declared a semi-annual dividend, which will be paid on Thursday, April 17th. Shareholders of record on Friday, March 7th will be paid a $2.23 dividend. This represents a yield of 7%. This is an increase from Rio Tinto Group's previous semi-annual dividend of $1.77. The ex-dividend date of this dividend is Friday, March 7th. Rio Tinto Group's dividend payout ratio (DPR) is currently 69.15%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. Morgan Stanley downgraded Rio Tinto Group from an "overweight" rating to an "equal weight" rating in a research report on Wednesday, April 9th. JPMorgan Chase & Co. began coverage on shares of Rio Tinto Group in a report on Tuesday, March 18th. They issued an "overweight" rating for the company. Clarkson Capital upgraded shares of Rio Tinto Group to a "strong-buy" rating in a research report on Friday, February 28th. DZ Bank raised Rio Tinto Group from a "hold" rating to a "strong-buy" rating in a research note on Thursday, March 27th. Finally, Jefferies Financial Group reduced their price target on shares of 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 analysts have rated the stock with a hold rating, five have given a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average 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.