Rio Tinto Group (NYSE:RIO) Shares Acquired by Scotia Capital Inc.

Scotia Capital Inc. grew its position in Rio Tinto Group (NYSE:RIO - Free Report) by 6.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 94,749 shares of the mining company's stock after acquiring an additional 5,538 shares during the quarter. Scotia Capital Inc.'s holdings in Rio Tinto Group were worth $5,572,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of the company. Thurston Springer Miller Herd & Titak Inc. increased its position in 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 purchasing an additional 195 shares during the last quarter. Rakuten Securities Inc. grew its stake in shares of Rio Tinto Group by 74.8% in the 4th quarter. Rakuten Securities Inc. now owns 493 shares of the mining company's stock worth $29,000 after buying an additional 211 shares in the last quarter. Mechanics Financial Corp bought a new stake in shares of Rio Tinto Group in the 4th quarter worth about $29,000. Golden State Wealth Management LLC purchased a new stake in shares of Rio Tinto Group during the 4th quarter valued at about $47,000. Finally, HHM Wealth Advisors LLC bought a new position in shares of Rio Tinto Group in the 4th quarter valued at about $50,000. 19.33% of the stock is owned by hedge funds and other institutional investors.

Rio Tinto Group Trading Up 0.3 %

RIO stock traded up $0.15 during midday trading on Tuesday, reaching $57.16. The company's stock had a trading volume of 2,807,116 shares, compared to its average volume of 2,877,477. Rio Tinto Group has a 1 year low of $51.67 and a 1 year high of $74.24. The firm has a market capitalization of $71.67 billion, a price-to-earnings ratio of 8.86, a PEG ratio of 0.42 and a beta of 0.66. The stock has a fifty day simple moving average of $60.90 and a two-hundred day simple moving average of $62.15. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.16 and a current ratio of 1.63.

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Rio Tinto Group Increases Dividend

The company 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 $2.23 dividend. The ex-dividend date is Friday, March 7th. This represents a yield of 7%. This is a boost from Rio Tinto Group's previous semi-annual dividend of $1.77. Rio Tinto Group's dividend payout ratio is 69.15%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on RIO shares. Clarkson Capital raised Rio Tinto Group to a "strong-buy" rating in a research note on Friday, February 28th. DZ Bank raised Rio Tinto Group from a "hold" rating to a "strong-buy" rating in a research report on Thursday, March 27th. JPMorgan Chase & Co. started coverage on Rio Tinto Group in a research report on Tuesday, March 18th. They issued an "overweight" rating for the company. Jefferies Financial Group dropped their price objective on shares of Rio Tinto Group from $83.00 to $73.00 and set a "buy" rating for the company in a research note on Monday, January 6th. Finally, Morgan Stanley downgraded shares of Rio Tinto Group from an "overweight" rating to an "equal weight" rating in a research note on Wednesday, April 9th. Four equities research analysts have rated the stock with a hold rating, five have issued a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price 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.