Kovack Advisors Inc. Acquires 533 Shares of Rio Tinto Group (NYSE:RIO)

Kovack Advisors Inc. boosted its holdings in shares of Rio Tinto Group (NYSE:RIO) by 7.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,467 shares of the mining company’s stock after buying an additional 533 shares during the quarter. Kovack Advisors Inc.’s holdings in Rio Tinto Group were worth $439,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. Concurrent Investment Advisors LLC lifted its position in Rio Tinto Group by 4.3% in the third quarter. Concurrent Investment Advisors LLC now owns 4,261 shares of the mining company’s stock worth $303,000 after purchasing an additional 175 shares during the period. Thurston Springer Miller Herd & Titak Inc. increased its holdings in Rio Tinto Group by 63.9% in the 4th 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 during the period. Cohen Investment Advisors LLC raised its stake in shares of Rio Tinto Group by 3.8% in the 4th quarter. Cohen Investment Advisors LLC now owns 5,352 shares of the mining company’s stock valued at $315,000 after buying an additional 198 shares in the last quarter. Mount Yale Investment Advisors LLC lifted its holdings in shares of Rio Tinto Group by 2.0% during the 4th quarter. Mount Yale Investment Advisors LLC now owns 10,191 shares of the mining company’s stock worth $599,000 after acquiring an additional 200 shares during the period. Finally, GAMMA Investing LLC lifted its holdings in shares of Rio Tinto Group by 12.2% during the 4th quarter. GAMMA Investing LLC now owns 1,861 shares of the mining company’s stock worth $109,000 after acquiring an additional 203 shares during the period. 19.33% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently commented on RIO shares. StockNews.com downgraded shares of Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a report on Saturday, February 22nd. Jefferies Financial Group reduced their price objective on shares of Rio Tinto Group from $83.00 to $73.00 and set a “buy” rating for the company in a report on Monday, January 6th. Four research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $73.00.

Rio Tinto Group Price Performance

NYSE:RIO opened at $60.51 on Friday. Rio Tinto Group has a 52 week low of $57.85 and a 52 week high of $74.24. The company has a market capitalization of $75.82 billion, a price-to-earnings ratio of 9.38, a PEG ratio of 0.42 and a beta of 0.65. The company has a 50-day moving average of $60.77 and a 200-day moving average of $62.89. 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 company also recently declared a semi-annual dividend, which will be paid on Thursday, April 17th. Investors of record on Friday, March 7th will be issued a dividend of $2.23 per share. This is an increase from Rio Tinto Group’s previous semi-annual dividend of $1.77. This represents a yield of 7%. The ex-dividend date is Friday, March 7th. Rio Tinto Group’s dividend payout ratio (DPR) is currently 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.