16,000 Shares in Rio Tinto Group (NYSE:RIO) Purchased by Anthracite Investment Company Inc.

Anthracite Investment Company Inc. purchased a new stake in Rio Tinto Group (NYSE:RIO) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 16,000 shares of the mining company’s stock, valued at approximately $941,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Rakuten Securities Inc. grew its stake in shares of Rio Tinto Group by 74.8% in the fourth quarter. Rakuten Securities Inc. now owns 493 shares of the mining company’s stock worth $29,000 after purchasing an additional 211 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. lifted its holdings in Rio Tinto Group by 63.9% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 500 shares of the mining company’s stock worth $29,000 after buying an additional 195 shares during the period. Golden State Wealth Management LLC bought a new stake in shares of Rio Tinto Group in the 4th quarter valued at about $47,000. HHM Wealth Advisors LLC acquired a new stake in shares of Rio Tinto Group in the fourth quarter valued at about $50,000. Finally, Newbridge Financial Services Group Inc. bought a new position in shares of Rio Tinto Group during the fourth quarter worth about $59,000. Institutional investors own 19.33% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. JPMorgan Chase & Co. began coverage on Rio Tinto Group in a research report on Tuesday, March 18th. They set an “overweight” rating on the stock. Clarkson Capital raised Rio Tinto Group to a “strong-buy” rating in a research note on Friday, February 28th. StockNews.com lowered Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a research report on Saturday, February 22nd. Finally, Jefferies Financial Group reduced 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. Three investment analysts have rated the stock with a hold rating, five have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, Rio Tinto Group presently has an average rating of “Moderate Buy” and an average target price of $73.00.

Rio Tinto Group Price Performance

RIO opened at $62.86 on Wednesday. The stock’s 50 day moving average price is $62.01 and its 200-day moving average price is $62.92. 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 $78.77 billion, a PE ratio of 9.75, a price-to-earnings-growth ratio of 0.42 and a beta of 0.60. 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 declared a semi-annual dividend, which will be paid on Thursday, April 17th. Investors of record on Friday, March 7th will be paid a $2.23 dividend. The ex-dividend date is Friday, March 7th. This represents a dividend yield of 7%. This is an increase from Rio Tinto Group’s previous semi-annual dividend of $1.77. Rio Tinto Group’s dividend payout ratio is presently 69.15%.

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.