Princeton Capital Management LLC Sells 275 Shares of Rio Tinto Group (NYSE:RIO)

Princeton Capital Management LLC lessened its stake in shares of Rio Tinto Group (NYSE:RIO) by 5.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,222 shares of the mining company’s stock after selling 275 shares during the period. Princeton Capital Management LLC’s holdings in Rio Tinto Group were worth $307,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Palliser Capital UK Ltd grew its stake in Rio Tinto Group by 213.8% in 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 during the last quarter. Raymond James Financial Inc. bought a new stake in Rio Tinto Group during the fourth quarter valued at about $29,606,000. Fisher Asset Management LLC boosted its holdings 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 valued at $1,247,475,000 after acquiring an additional 485,731 shares during the period. SPX Gestao de Recursos Ltda grew its position in shares of Rio Tinto Group by 1,773.2% in the third quarter. SPX Gestao de Recursos Ltda now owns 426,922 shares of the mining company’s stock valued at $30,384,000 after purchasing an additional 404,131 shares during the last quarter. Finally, FMR LLC increased its stake in shares of Rio Tinto Group by 35.1% in the third quarter. FMR LLC now owns 1,381,766 shares of the mining company’s stock worth $98,340,000 after purchasing an additional 358,630 shares during the period. Institutional investors own 19.33% of the company’s stock.

Analyst Ratings Changes

Several analysts recently weighed in on the company. StockNews.com downgraded Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a research note on Saturday, February 22nd. JPMorgan Chase & Co. started coverage on Rio Tinto Group in a research report on Tuesday, March 18th. They issued an “overweight” rating for the company. Jefferies Financial Group dropped their target price on shares of Rio Tinto Group from $83.00 to $73.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Finally, Clarkson Capital raised shares of Rio Tinto Group to a “strong-buy” rating in a report on Friday, February 28th. Three investment 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. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $73.00.

Rio Tinto Group Price Performance

Shares of RIO stock opened at $62.25 on Tuesday. Rio Tinto Group has a 12 month low of $57.85 and a 12 month high of $74.24. The company has a market capitalization of $78.00 billion, a P/E ratio of 9.65, a P/E/G ratio of 0.42 and a beta of 0.60. The stock has a 50 day moving average of $61.96 and a two-hundred day moving average of $62.90. The company has a current ratio of 1.63, a quick ratio of 1.16 and a debt-to-equity ratio of 0.23.

Rio Tinto Group Increases Dividend

The firm also recently declared a semi-annual dividend, which will be paid on Thursday, April 17th. Shareholders 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 represents a yield of 7%. This is an increase from Rio Tinto Group’s previous semi-annual dividend of $1.77. Rio Tinto Group’s 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.