TD Waterhouse Canada Inc. Sells 32,446 Shares of Rio Tinto Group (NYSE:RIO)

TD Waterhouse Canada Inc. cut its holdings in Rio Tinto Group (NYSE:RIO - Free Report) by 50.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 31,385 shares of the mining company's stock after selling 32,446 shares during the period. TD Waterhouse Canada Inc.'s holdings in Rio Tinto Group were worth $1,845,000 as of its most recent SEC filing.

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

Rio Tinto Group Trading Down 1.8 %

NYSE:RIO traded down $1.11 during mid-day trading on Friday, reaching $60.58. 2,694,997 shares of the company's stock traded hands, compared to its average volume of 2,864,427. The company has a 50 day moving average price of $60.24 and a 200-day moving average price of $61.56. Rio Tinto Group has a 12-month low of $51.67 and a 12-month high of $74.24. The firm has a market capitalization of $75.97 billion, a price-to-earnings ratio of 9.39, a PEG ratio of 0.42 and a beta of 0.66. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.63 and a quick ratio of 1.16.

Rio Tinto Group Increases Dividend

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

Wall Street Analysts Forecast Growth

RIO has been the topic of several research analyst reports. JPMorgan Chase & Co. began coverage on shares of Rio Tinto Group in a research report on Tuesday, March 18th. They issued an "overweight" rating on the stock. DZ Bank upgraded Rio Tinto Group from a "hold" rating to a "strong-buy" rating in a report on Thursday, March 27th. Jefferies Financial Group decreased their price objective on Rio Tinto Group from $83.00 to $73.00 and set a "buy" rating on the stock in a report on Monday, January 6th. Clarkson Capital upgraded shares of Rio Tinto Group to a "strong-buy" rating in a research report on Friday, February 28th. Finally, Morgan Stanley cut shares of Rio Tinto Group from an "overweight" rating to an "equal weight" rating in a research note on Wednesday, April 9th. Four analysts have rated the stock with a hold rating, five have issued a buy rating and four have given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average price target of $73.00.

Rio Tinto Group 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.