CIBC Private Wealth Group LLC Increases Stake in Rio Tinto Group (NYSE:RIO)

CIBC Private Wealth Group LLC grew its position in Rio Tinto Group (NYSE:RIO - Free Report) by 56.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 16,491 shares of the mining company's stock after purchasing an additional 5,918 shares during the quarter. CIBC Private Wealth Group LLC's holdings in Rio Tinto Group were worth $967,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of RIO. Thurston Springer Miller Herd & Titak Inc. grew its holdings in Rio Tinto Group by 63.9% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 500 shares of the mining company's stock worth $29,000 after acquiring an additional 195 shares during the period. Rakuten Securities Inc. boosted its position 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 valued at $29,000 after purchasing an additional 211 shares in the last quarter. Mechanics Financial Corp acquired a new stake in Rio Tinto Group during the fourth quarter worth approximately $29,000. Golden State Wealth Management LLC bought a new stake in Rio Tinto Group in the fourth quarter worth approximately $47,000. Finally, HHM Wealth Advisors LLC acquired a new position in Rio Tinto Group in the fourth quarter valued at approximately $50,000. 19.33% of the stock is owned by institutional investors.

Rio Tinto Group Stock Down 6.5 %

Rio Tinto Group stock traded down $3.78 during midday trading on Friday, hitting $54.66. 8,784,422 shares of the stock were exchanged, compared to its average volume of 2,850,956. Rio Tinto Group has a 52-week low of $53.96 and a 52-week high of $74.24. 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 business's 50-day moving average price is $61.82 and its 200-day moving average price is $62.81. The stock has a market capitalization of $68.54 billion, a price-to-earnings ratio of 8.47, a price-to-earnings-growth ratio of 0.42 and a beta of 0.66.

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Rio Tinto Group Increases Dividend

The firm also recently announced a semi-annual dividend, which will be paid on Thursday, April 17th. Stockholders of record on Friday, March 7th will be paid a $2.23 dividend. This represents a dividend yield of 7%. The ex-dividend date is Friday, March 7th. This is an increase from Rio Tinto Group's previous semi-annual dividend of $1.77. Rio Tinto Group's payout ratio is presently 69.15%.

Analyst Upgrades and Downgrades

RIO has been the topic of a number of research reports. Jefferies Financial Group dropped their target price 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. StockNews.com upgraded shares of Rio Tinto Group from a "buy" rating to a "strong-buy" rating in a report on Friday. Clarkson Capital raised shares of Rio Tinto Group to a "strong-buy" rating in a research report on Friday, February 28th. JPMorgan Chase & Co. assumed coverage on Rio Tinto Group in a research report on Tuesday, March 18th. They issued an "overweight" rating for the company. Finally, DZ Bank raised Rio Tinto Group from a "hold" rating to a "strong-buy" rating in a research note on Thursday, March 27th. Three analysts have rated the stock with a hold rating, four have assigned a buy rating and four have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Rio Tinto Group presently has a consensus rating of "Buy" and a consensus target price of $73.00.

About Rio Tinto Group

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.