Rio Tinto Group (NYSE:RIO) Stock Position Boosted by Foresight Global Investors Inc.

Foresight Global Investors Inc. increased its position in shares of Rio Tinto Group (NYSE:RIO) by 97.8% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 31,645 shares of the mining company’s stock after purchasing an additional 15,650 shares during the quarter. Rio Tinto Group makes up approximately 1.4% of Foresight Global Investors Inc.’s investment portfolio, making the stock its 10th largest position. Foresight Global Investors Inc.’s holdings in Rio Tinto Group were worth $1,861,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Jeppson Wealth Management LLC grew its holdings in shares of Rio Tinto Group by 47.5% during the fourth quarter. Jeppson Wealth Management LLC now owns 20,093 shares of the mining company’s stock worth $1,182,000 after buying an additional 6,473 shares in the last quarter. Fisher Asset Management LLC boosted its position in Rio Tinto Group by 2.9% during the third quarter. Fisher Asset Management LLC now owns 17,528,095 shares of the mining company’s stock worth $1,247,475,000 after acquiring an additional 485,731 shares during the last quarter. Northwest Bancshares Inc. purchased a new stake in Rio Tinto Group during the 3rd quarter valued at about $1,440,000. Barclays PLC raised its holdings in Rio Tinto Group by 225.6% in the 3rd quarter. Barclays PLC now owns 335,637 shares of the mining company’s stock valued at $23,888,000 after acquiring an additional 232,539 shares during the last quarter. Finally, Marshall Financial Group LLC acquired a new stake in Rio Tinto Group in the 4th quarter valued at about $810,000. 19.33% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms 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. Jefferies Financial Group lowered their price objective 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. Clarkson Capital raised Rio Tinto Group to a “strong-buy” rating in a research note on Friday, February 28th. Finally, JPMorgan Chase & Co. assumed coverage on shares of Rio Tinto Group in a research report on Tuesday. They set an “overweight” rating on the stock. Three analysts have rated the stock with a hold rating, five have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Rio Tinto Group has an average rating of “Moderate Buy” and a consensus target price of $73.00.

Rio Tinto Group Trading Up 1.0 %

Shares of Rio Tinto Group stock opened at $64.12 on Wednesday. The stock has a 50 day moving average of $61.65 and a 200 day moving average 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. The firm has a market capitalization of $80.35 billion, a price-to-earnings ratio of 9.94, a PEG ratio of 0.42 and a beta of 0.60. Rio Tinto Group has a fifty-two week low of $57.85 and a fifty-two week high of $74.24.

Rio Tinto Group Increases Dividend

The firm also recently declared a semi-annual dividend, which will be paid on Thursday, April 17th. Stockholders of record on Friday, March 7th will be issued a dividend of $2.23 per share. The ex-dividend date is Friday, March 7th. This is a boost 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 is currently 69.15%.

About Rio Tinto Group

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.