NewEdge Advisors LLC Sells 7,686 Shares of Rio Tinto Group (NYSE:RIO)

NewEdge Advisors LLC lowered its position in Rio Tinto Group (NYSE:RIO - Free Report) by 14.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 44,478 shares of the mining company's stock after selling 7,686 shares during the quarter. NewEdge Advisors LLC's holdings in Rio Tinto Group were worth $2,616,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also added to or reduced their stakes in the company. Rakuten Securities Inc. increased its stake in shares of Rio Tinto Group by 74.8% in the fourth quarter. Rakuten Securities Inc. now owns 493 shares of the mining company's stock valued at $29,000 after buying an additional 211 shares during the period. Thurston Springer Miller Herd & Titak Inc. increased its position 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 valued at $29,000 after purchasing an additional 195 shares during the period. Mechanics Financial Corp bought a new position in Rio Tinto Group during the 4th quarter worth approximately $29,000. Golden State Wealth Management LLC acquired a new position in shares of Rio Tinto Group in the 4th quarter worth approximately $47,000. Finally, HHM Wealth Advisors LLC acquired a new position in shares of Rio Tinto Group in the 4th quarter worth approximately $50,000. Institutional investors own 19.33% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on RIO shares. Barclays reaffirmed an "overweight" rating on shares of Rio Tinto Group in a research note on Wednesday, April 16th. Clarkson Capital raised shares of Rio Tinto Group to a "strong-buy" rating in a research report on Friday, February 28th. JPMorgan Chase & Co. started coverage on shares of Rio Tinto Group in a research report on Tuesday, March 18th. They set an "overweight" rating on the stock. DZ Bank upgraded shares of Rio Tinto Group from a "hold" rating to a "strong-buy" rating in a report on Thursday, March 27th. Finally, StockNews.com raised shares of Rio Tinto Group from a "buy" rating to a "strong-buy" rating in a research note on Sunday, April 20th. Four investment analysts have rated the stock with a hold rating, five have assigned a buy rating and four have given a strong buy rating to the company. Based on data from MarketBeat, Rio Tinto Group currently has an average rating of "Buy" and a consensus price target of $73.00.

Rio Tinto Group Stock Down 1.8 %

Shares of Rio Tinto Group stock traded down $1.11 during trading hours on Friday, reaching $60.58. The company's stock had a trading volume of 2,694,997 shares, compared to its average volume of 2,865,444. 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 stock's fifty day simple moving average is $60.31 and its two-hundred day simple moving average is $61.63. The company has a market capitalization of $75.97 billion, a P/E ratio of 9.39, a P/E/G ratio of 0.42 and a beta of 0.66. Rio Tinto Group has a one year low of $51.67 and a one year high of $74.24.

Rio Tinto Group Increases Dividend

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

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.