OLD Mission Capital LLC Sells 117,779 Shares of Rio Tinto Group (NYSE:RIO)

OLD Mission Capital LLC trimmed its position in Rio Tinto Group (NYSE:RIO - Free Report) by 61.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 72,500 shares of the mining company's stock after selling 117,779 shares during the period. OLD Mission Capital LLC's holdings in Rio Tinto Group were worth $4,264,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Fisher Asset Management LLC grew its stake in shares of Rio Tinto Group by 0.4% in the 4th quarter. Fisher Asset Management LLC now owns 17,604,463 shares of the mining company's stock worth $1,035,319,000 after purchasing an additional 76,368 shares during the last quarter. Franklin Resources Inc. grew its position in Rio Tinto Group by 1.4% in the fourth quarter. Franklin Resources Inc. now owns 5,115,476 shares of the mining company's stock worth $300,841,000 after buying an additional 70,131 shares during the last quarter. FMR LLC grew its position in Rio Tinto Group by 35.1% in the third quarter. FMR LLC now owns 1,381,766 shares of the mining company's stock worth $98,340,000 after buying an additional 358,630 shares during the last quarter. Todd Asset Management LLC increased its holdings in shares of Rio Tinto Group by 1.0% in the fourth quarter. Todd Asset Management LLC now owns 1,068,182 shares of the mining company's stock valued at $62,820,000 after buying an additional 10,062 shares in the last quarter. Finally, Palliser Capital UK Ltd lifted its position in shares of Rio Tinto Group by 213.8% during the 4th quarter. Palliser Capital UK Ltd now owns 989,417 shares of the mining company's stock valued at $58,188,000 after acquiring an additional 674,117 shares during the last quarter. 19.33% of the stock is owned by institutional investors.

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Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on RIO. DZ Bank raised Rio Tinto Group from a "hold" rating to a "strong-buy" rating in a research report on Thursday, March 27th. StockNews.com downgraded Rio Tinto Group from a "strong-buy" rating to a "buy" rating in a report on Saturday, February 22nd. Jefferies Financial Group lowered their price objective 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. JPMorgan Chase & Co. initiated coverage on Rio Tinto Group in a report on Tuesday, March 18th. They issued an "overweight" rating for the company. Finally, Clarkson Capital upgraded Rio Tinto Group to a "strong-buy" rating in a report on Friday, February 28th. Three analysts have rated the stock with a hold rating, five have assigned a buy rating and three have given a strong buy rating to the company. According to MarketBeat, the company has an average rating of "Buy" and a consensus price target of $73.00.

Rio Tinto Group Stock Down 6.5 %

NYSE RIO traded down $3.78 on Friday, reaching $54.66. The stock had a trading volume of 8,784,422 shares, compared to its average volume of 2,856,324. The company has a current ratio of 1.63, a quick ratio of 1.16 and a debt-to-equity ratio of 0.23. Rio Tinto Group has a 1 year low of $53.98 and a 1 year high of $74.24. The business has a 50 day moving average price of $61.97 and a 200 day moving average price of $62.87. The company has a market capitalization of $68.54 billion, a price-to-earnings ratio of 8.47, a P/E/G ratio of 0.42 and a beta of 0.60.

Rio Tinto Group Increases Dividend

The company also recently declared a semi-annual dividend, which will be paid on Thursday, April 17th. Investors of record on Friday, March 7th will be paid a $2.23 dividend. This is a boost 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 payout ratio is presently 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.