Ashton Thomas Private Wealth LLC Makes New Investment in Rio Tinto Group (NYSE:RIO)

Ashton Thomas Private Wealth LLC acquired a new stake in shares of Rio Tinto Group (NYSE:RIO) during the fourth quarter, Holdings Channel.com reports. The fund acquired 9,413 shares of the mining company’s stock, valued at approximately $554,000.

Other institutional investors have also made changes to their positions in the company. Concurrent Investment Advisors LLC grew its holdings in Rio Tinto Group by 4.3% during the 3rd quarter. Concurrent Investment Advisors LLC now owns 4,261 shares of the mining company’s stock valued at $303,000 after purchasing an additional 175 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. boosted its position 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 buying an additional 195 shares during the last quarter. Cohen Investment Advisors LLC grew its stake in shares of 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 acquiring an additional 198 shares in the last quarter. Mount Yale Investment Advisors LLC increased its position in shares of 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 worth $599,000 after acquiring an additional 200 shares during the last quarter. Finally, GAMMA Investing LLC increased its position in shares of Rio Tinto Group by 12.2% during the fourth quarter. GAMMA Investing LLC now owns 1,861 shares of the mining company’s stock worth $109,000 after acquiring an additional 203 shares during the last quarter. 19.33% of the stock is owned by institutional investors and hedge funds.

Rio Tinto Group Trading Down 0.3 %

Shares of NYSE RIO opened at $62.14 on Tuesday. 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 stock’s 50 day moving average price is $61.19 and its two-hundred day moving average price is $62.89. Rio Tinto Group has a 52-week low of $57.85 and a 52-week high of $74.24. The stock has a market capitalization of $77.86 billion, a P/E ratio of 9.63, a PEG 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. Investors of record on Friday, March 7th will be paid a dividend of $2.23 per share. The ex-dividend date of this dividend is Friday, March 7th. This is a boost from Rio Tinto Group’s previous semi-annual dividend of $1.77. This represents a yield of 7%. Rio Tinto Group’s dividend payout ratio (DPR) is 69.15%.

Analysts Set New Price Targets

RIO has been the subject of a number of recent analyst reports. Clarkson Capital upgraded Rio Tinto Group to a “strong-buy” rating in a research note on Friday, February 28th. Jefferies Financial Group decreased 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, 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. Three equities research analysts have rated the stock with a hold rating, four have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Rio Tinto Group has an average rating of “Moderate Buy” and an average target price 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.