Rio Tinto Group (NYSE:RIO) Shares Purchased by Mission Wealth Management LP

Mission Wealth Management LP raised its holdings in shares of Rio Tinto Group (NYSE:RIO) by 12.9% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 9,658 shares of the mining company’s stock after purchasing an additional 1,104 shares during the quarter. Mission Wealth Management LP’s holdings in Rio Tinto Group were worth $568,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Thurston Springer Miller Herd & Titak Inc. grew its stake 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 valued at $29,000 after purchasing an additional 195 shares in the last quarter. Hara Capital LLC acquired a new stake in Rio Tinto Group during the 3rd quarter valued at approximately $53,000. Golden State Wealth Management LLC acquired a new stake in Rio Tinto Group during the 4th quarter valued at approximately $47,000. Nisa Investment Advisors LLC grew its stake in Rio Tinto Group by 49.1% during the 3rd 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 in the last quarter. Finally, HHM Wealth Advisors LLC bought a new position in Rio Tinto Group during the 4th quarter worth approximately $50,000. Institutional investors and hedge funds own 19.33% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have commented on the company. Jefferies Financial Group reduced their target price on Rio Tinto Group from $83.00 to $73.00 and set a “buy” rating on the stock in a report on Monday, January 6th. StockNews.com downgraded Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a report on Saturday, February 22nd. Finally, Clarkson Capital raised Rio Tinto Group to a “strong-buy” rating in a report on Friday, February 28th. Three research analysts have rated the stock with a hold rating, four have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $73.00.

Rio Tinto Group Trading Up 2.6 %

NYSE:RIO opened at $63.83 on Thursday. Rio Tinto Group has a 12-month low of $57.85 and a 12-month high of $74.24. The firm has a market capitalization of $79.98 billion, a P/E ratio of 9.90, a P/E/G ratio of 0.42 and a beta of 0.65. 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 business has a 50 day simple moving average of $60.96 and a 200 day simple moving average of $62.88.

Rio Tinto Group Increases Dividend

The company also recently disclosed a semi-annual dividend, which will be paid on Thursday, April 17th. Investors of record on Friday, March 7th will be given a $2.23 dividend. The ex-dividend date is Friday, March 7th. This is an increase from Rio Tinto Group’s previous semi-annual dividend of $1.77. This represents a yield of 7%. 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.