Rakuten Securities Inc. Increases Stock Holdings in Rio Tinto Group (NYSE:RIO)

Rakuten Securities Inc. increased its holdings in shares of Rio Tinto Group (NYSE:RIO) by 74.8% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 493 shares of the mining company’s stock after acquiring an additional 211 shares during the period. Rakuten Securities Inc.’s holdings in Rio Tinto Group were worth $29,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Fisher Asset Management LLC lifted its position in shares of Rio Tinto Group by 0.4% during the 4th quarter. Fisher Asset Management LLC now owns 17,604,463 shares of the mining company’s stock valued at $1,035,319,000 after buying an additional 76,368 shares in the last quarter. FMR LLC lifted its position in shares of Rio Tinto Group by 35.1% during the 3rd quarter. FMR LLC now owns 1,381,766 shares of the mining company’s stock valued at $98,340,000 after buying an additional 358,630 shares in the last quarter. Todd Asset Management LLC lifted its position in shares of Rio Tinto Group by 1.0% during the 4th quarter. Todd Asset Management LLC now owns 1,068,182 shares of the mining company’s stock valued at $62,820,000 after buying an additional 10,062 shares in the last quarter. Palliser Capital UK Ltd lifted its position in shares of Rio Tinto Group by 213.8% during the 4th quarter. Palliser Capital UK Ltd now owns 989,417 shares of the mining company’s stock valued at $58,188,000 after buying an additional 674,117 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new position in shares of Rio Tinto Group during the 4th quarter valued at approximately $29,606,000. Hedge funds and other institutional investors own 19.33% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on RIO. StockNews.com lowered Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a research report on Saturday, February 22nd. Clarkson Capital raised Rio Tinto Group to a “strong-buy” rating in a research note on Friday, February 28th. Finally, Jefferies Financial Group reduced their price objective on 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. 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 company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $73.00.

Rio Tinto Group Stock Up 0.7 %

NYSE RIO opened at $61.19 on Friday. Rio Tinto Group has a one year low of $57.85 and a one year high of $74.24. The company has a market cap of $76.67 billion, a P/E ratio of 9.49, a P/E/G ratio of 0.42 and a beta of 0.60. The business has a fifty day moving average price of $61.34 and a 200 day moving average price of $62.85. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.16 and a current ratio of 1.63.

Rio Tinto Group Increases Dividend

The business also recently announced a semi-annual dividend, which will be paid on Thursday, April 17th. Shareholders of record on Friday, March 7th will be paid a $2.23 dividend. The ex-dividend date is Friday, March 7th. This is an increase from Rio Tinto Group’s previous semi-annual dividend of $1.77. This represents a dividend yield of 7%. Rio Tinto Group’s dividend payout ratio (DPR) is 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.