SPX Gestao de Recursos Ltda Reduces Holdings in Rio Tinto Group (NYSE:RIO)

SPX Gestao de Recursos Ltda lowered its position in Rio Tinto Group (NYSE:RIO - Free Report) by 95.2% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 20,628 shares of the mining company's stock after selling 406,294 shares during the period. SPX Gestao de Recursos Ltda's holdings in Rio Tinto Group were worth $1,213,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Thurston Springer Miller Herd & Titak Inc. raised its position in shares of 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 worth $29,000 after acquiring an additional 195 shares during the period. Golden State Wealth Management LLC acquired a new position in shares of Rio Tinto Group in the fourth quarter worth about $47,000. HHM Wealth Advisors LLC acquired a new position in shares of Rio Tinto Group during the 4th quarter worth about $50,000. FSC Wealth Advisors LLC raised its position in shares of Rio Tinto Group by 150.0% during the 4th quarter. FSC Wealth Advisors LLC now owns 1,000 shares of the mining company's stock worth $59,000 after purchasing an additional 600 shares during the last quarter. Finally, Newbridge Financial Services Group Inc. acquired a new position in shares of Rio Tinto Group during the 4th quarter worth about $59,000. Institutional investors and hedge funds own 19.33% of the company's stock.

Analysts Set New Price Targets

Several research firms recently weighed in on RIO. StockNews.com downgraded shares of Rio Tinto Group from a "strong-buy" rating to a "buy" rating in a research report on Saturday, February 22nd. Jefferies Financial Group reduced their price target on shares of Rio Tinto Group from $83.00 to $73.00 and set a "buy" rating for the company in a research report on Monday, January 6th. Finally, Clarkson Capital upgraded shares of Rio Tinto Group to a "strong-buy" rating in a research report on Friday, February 28th. Three investment analysts have rated the stock with a hold rating, four have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $73.00.

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Rio Tinto Group Price Performance

NYSE RIO traded up $1.88 during trading hours on Friday, hitting $63.08. 2,725,584 shares of the company's stock traded hands, compared to its average volume of 3,269,111. Rio Tinto Group has a 52-week low of $57.85 and a 52-week high of $74.24. The company has a market capitalization of $79.04 billion, a PE ratio of 9.78, a PEG ratio of 0.42 and a beta of 0.60. 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 firm's 50-day moving average is $61.34 and its 200-day moving average is $62.85.

Rio Tinto Group Increases Dividend

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

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.