Solitude Financial Services Has $538,000 Holdings in Rio Tinto Group (NYSE:RIO)

Solitude Financial Services raised its holdings in Rio Tinto Group (NYSE:RIO) by 23.6% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,150 shares of the mining company’s stock after buying an additional 1,750 shares during the period. Rio Tinto Group comprises approximately 0.2% of Solitude Financial Services’ investment portfolio, making the stock its 24th biggest holding. Solitude Financial Services’ holdings in Rio Tinto Group were worth $538,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in RIO. Thurston Springer Miller Herd & Titak Inc. raised its stake in Rio Tinto Group by 63.9% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 500 shares of the mining company’s stock valued at $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 valued at $47,000. HHM Wealth Advisors LLC acquired a new position in shares of Rio Tinto Group in the fourth quarter valued at $50,000. Newbridge Financial Services Group Inc. bought a new position in shares of Rio Tinto Group in the fourth quarter valued at about $59,000. Finally, FSC Wealth Advisors LLC lifted its stake 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 buying an additional 600 shares during the last quarter. 19.33% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

RIO has been the topic of several research analyst reports. Clarkson Capital raised shares of Rio Tinto Group to a “strong-buy” rating in a report on Friday, February 28th. Jefferies Financial Group lowered their target price on 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. Finally, StockNews.com downgraded Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a research note on Saturday, February 22nd. Three analysts have rated the stock with a hold rating, four have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $73.00.

Rio Tinto Group Price Performance

RIO stock opened at $62.33 on Monday. The company’s 50-day moving average price is $61.12 and its two-hundred day moving average price is $62.89. Rio Tinto Group has a 12 month low of $57.85 and a 12 month high of $74.24. 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 has a market cap 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 Increases Dividend

The company also recently disclosed a semi-annual dividend, which will be paid on Thursday, April 17th. Shareholders of record on Friday, March 7th will be given a dividend of $2.23 per share. This is an increase from Rio Tinto Group’s previous semi-annual dividend of $1.77. This represents a yield of 7%. The ex-dividend date is Friday, March 7th. Rio Tinto Group’s 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.