Foresight Global Investors Inc. Has $1.86 Million Position in Rio Tinto Group (NYSE:RIO)

Foresight Global Investors Inc. increased its stake in shares of Rio Tinto Group (NYSE:RIO - Free Report) by 97.8% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 31,645 shares of the mining company's stock after acquiring an additional 15,650 shares during the period. Rio Tinto Group accounts for about 1.4% of Foresight Global Investors Inc.'s holdings, making the stock its 10th largest position. Foresight Global Investors Inc.'s holdings in Rio Tinto Group were worth $1,861,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the stock. Palliser Capital UK Ltd grew its holdings in Rio Tinto Group by 213.8% during the fourth quarter. Palliser Capital UK Ltd now owns 989,417 shares of the mining company's stock valued at $58,188,000 after purchasing an additional 674,117 shares during the last quarter. Raymond James Financial Inc. acquired a new position in Rio Tinto Group in the 4th quarter valued at $29,606,000. Fisher Asset Management LLC grew its stake in Rio Tinto Group by 2.9% in the 3rd quarter. Fisher Asset Management LLC now owns 17,528,095 shares of the mining company's stock valued at $1,247,475,000 after buying an additional 485,731 shares during the last quarter. SPX Gestao de Recursos Ltda raised its holdings in Rio Tinto Group by 1,773.2% in the 3rd quarter. SPX Gestao de Recursos Ltda now owns 426,922 shares of the mining company's stock worth $30,384,000 after acquiring an additional 404,131 shares during the period. Finally, FMR LLC lifted its position in Rio Tinto Group by 35.1% during the 3rd quarter. FMR LLC now owns 1,381,766 shares of the mining company's stock worth $98,340,000 after acquiring an additional 358,630 shares during the last quarter. 19.33% of the stock is owned by institutional investors.

Remove Ads

Rio Tinto Group Stock Performance

Rio Tinto Group stock traded down $0.91 during trading hours on Friday, hitting $62.02. The stock had a trading volume of 3,703,869 shares, compared to its average volume of 2,757,512. The company has a 50-day moving average of $61.90 and a two-hundred day moving average of $62.86. The company has a quick ratio of 1.16, a current ratio of 1.63 and a debt-to-equity ratio of 0.23. Rio Tinto Group has a fifty-two week low of $57.85 and a fifty-two week high of $74.24. The company has a market cap of $77.71 billion, a PE ratio of 9.61, a price-to-earnings-growth ratio of 0.42 and a beta of 0.60.

Rio Tinto Group Increases Dividend

The company also recently announced 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 represents a dividend yield of 7%. This is a positive change from Rio Tinto Group's previous semi-annual dividend of $1.77. The ex-dividend date is Friday, March 7th. Rio Tinto Group's dividend payout ratio is presently 69.15%.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. StockNews.com lowered Rio Tinto Group from a "strong-buy" rating to a "buy" rating in a research note on Saturday, February 22nd. Jefferies Financial Group dropped their price target on 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. assumed coverage on Rio Tinto Group in a research report on Tuesday, March 18th. They issued an "overweight" rating for the company. Finally, Clarkson Capital upgraded shares of Rio Tinto Group to a "strong-buy" rating in a research note on Friday, February 28th. Three research analysts have rated the stock with a hold rating, five have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target 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.