Rio Tinto Group (NYSE:RIO) Shares Bought by Banco Santander S.A.

Banco Santander S.A. grew its position in shares of Rio Tinto Group (NYSE:RIO) by 16.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 32,296 shares of the mining company’s stock after purchasing an additional 4,461 shares during the period. Banco Santander S.A.’s holdings in Rio Tinto Group were worth $1,899,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the company. Concurrent Investment Advisors LLC lifted its position in Rio Tinto Group by 4.3% during the third quarter. Concurrent Investment Advisors LLC now owns 4,261 shares of the mining company’s stock valued at $303,000 after buying an additional 175 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. lifted its position in Rio Tinto Group by 63.9% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 500 shares of the mining company’s stock valued at $29,000 after buying an additional 195 shares in the last quarter. Cohen Investment Advisors LLC lifted its position in Rio Tinto Group by 3.8% during the fourth quarter. Cohen Investment Advisors LLC now owns 5,352 shares of the mining company’s stock valued at $315,000 after buying an additional 198 shares in the last quarter. Mount Yale Investment Advisors LLC lifted its position in Rio Tinto Group by 2.0% during the fourth quarter. Mount Yale Investment Advisors LLC now owns 10,191 shares of the mining company’s stock valued at $599,000 after buying an additional 200 shares in the last quarter. Finally, GAMMA Investing LLC lifted its position in Rio Tinto Group by 12.2% during the fourth quarter. GAMMA Investing LLC now owns 1,861 shares of the mining company’s stock valued at $109,000 after buying an additional 203 shares in the last quarter. 19.33% of the stock is owned by institutional investors and hedge funds.

Rio Tinto Group Trading Down 2.5 %

RIO opened at $62.33 on Monday. The company has a quick ratio of 1.16, a current ratio of 1.63 and a debt-to-equity ratio of 0.23. The firm’s 50 day moving average is $61.12 and its 200-day moving average is $62.89. The firm has a market capitalization of $78.10 billion, a P/E ratio of 9.66, a P/E/G ratio of 0.42 and a beta of 0.60. Rio Tinto Group has a 52-week low of $57.85 and a 52-week high of $74.24.

Rio Tinto Group Increases Dividend

The business 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 represents a dividend yield of 7%. The ex-dividend date of this dividend is Friday, March 7th. This is a positive change from Rio Tinto Group’s previous semi-annual dividend of $1.77. Rio Tinto Group’s payout ratio is 69.15%.

Wall Street Analysts Forecast Growth

RIO has been the topic of a number of recent research reports. Clarkson Capital raised shares of Rio Tinto Group to a “strong-buy” rating in a research report on Friday, February 28th. StockNews.com lowered shares of Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a research note on Saturday, February 22nd. Finally, Jefferies Financial Group dropped 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 note on Monday, January 6th. Three investment analysts have rated the stock with a hold rating, four have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, Rio Tinto Group has a consensus rating of “Moderate 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.