Sage Rhino Capital LLC Cuts Holdings in Rio Tinto Group (NYSE:RIO)

Sage Rhino Capital LLC decreased its position in Rio Tinto Group (NYSE:RIO) by 6.9% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,227 shares of the mining company’s stock after selling 311 shares during the period. Sage Rhino Capital LLC’s holdings in Rio Tinto Group were worth $249,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Thurston Springer Miller Herd & Titak Inc. increased its holdings in Rio Tinto Group by 63.9% in the fourth 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 in the last quarter. Hara Capital LLC acquired a new stake in shares of Rio Tinto Group in the third quarter valued at about $53,000. Golden State Wealth Management LLC acquired a new stake in shares of Rio Tinto Group in the fourth quarter valued at about $47,000. Nisa Investment Advisors LLC grew its position in shares of Rio Tinto Group by 49.1% in the third quarter. Nisa Investment Advisors LLC now owns 820 shares of the mining company’s stock valued at $58,000 after purchasing an additional 270 shares during the period. Finally, HHM Wealth Advisors LLC acquired a new stake in shares of Rio Tinto Group in the fourth quarter valued at about $50,000. Hedge funds and other institutional investors own 19.33% of the company’s stock.

Rio Tinto Group Stock Performance

NYSE:RIO opened at $61.04 on Tuesday. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.63 and a quick ratio of 1.16. The firm has a market capitalization of $76.49 billion, a price-to-earnings ratio of 9.46, a PEG ratio of 0.42 and a beta of 0.65. The company’s 50-day moving average is $60.81 and its two-hundred day moving average is $62.87. Rio Tinto Group has a 1-year low of $57.85 and a 1-year high of $74.24.

Rio Tinto Group Increases Dividend

The company also recently announced a semi-annual dividend, which will be paid on Thursday, April 17th. Shareholders of record on Friday, March 7th will be issued a $2.23 dividend. This represents a yield of 7%. This is a positive change from Rio Tinto Group’s previous semi-annual dividend of $1.77. The ex-dividend date of this dividend is Friday, March 7th. Rio Tinto Group’s payout ratio is presently 69.15%.

Analysts Set New Price Targets

A number of research firms recently weighed in on RIO. Jefferies Financial Group lowered their price target 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. StockNews.com lowered shares of Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a research report on Saturday, February 22nd. Four equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Rio Tinto Group currently has a consensus rating of “Moderate Buy” and an average price target of $73.00.

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.