FCA Corp TX Grows Stake in Rio Tinto Group (NYSE:RIO)

FCA Corp TX boosted its position in shares of Rio Tinto Group (NYSE:RIO) by 1.5% during the 4th quarter, HoldingsChannel reports. The firm owned 16,190 shares of the mining company’s stock after buying an additional 245 shares during the period. FCA Corp TX’s holdings in Rio Tinto Group were worth $952,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of RIO. Thurston Springer Miller Herd & Titak Inc. increased 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 purchasing an additional 195 shares during the period. Rakuten Securities Inc. increased its holdings in shares of Rio Tinto Group by 74.8% in the 4th quarter. Rakuten Securities Inc. now owns 493 shares of the mining company’s stock valued at $29,000 after acquiring an additional 211 shares during the period. Golden State Wealth Management LLC purchased a new position in shares of Rio Tinto Group in the 4th quarter valued at $47,000. HHM Wealth Advisors LLC purchased a new position in shares of Rio Tinto Group in the 4th quarter valued at $50,000. Finally, FSC Wealth Advisors LLC increased its holdings in shares of Rio Tinto Group by 150.0% in the 4th quarter. FSC Wealth Advisors LLC now owns 1,000 shares of the mining company’s stock valued at $59,000 after acquiring an additional 600 shares during the period. 19.33% of the stock is currently owned by hedge funds and other institutional investors.

Rio Tinto Group Stock Performance

Shares of RIO stock opened at $62.02 on Friday. The company has a quick ratio of 1.16, a current ratio of 1.63 and a debt-to-equity ratio of 0.23. Rio Tinto Group has a 52-week low of $57.85 and a 52-week high of $74.24. The business has a 50-day simple moving average of $61.90 and a 200-day simple moving average of $62.86. The stock has a market cap of $77.71 billion, a PE ratio of 9.61, a price-to-earnings-growth ratio of 0.42 and a beta of 0.60.

Rio Tinto Group Increases Dividend

The firm 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. This represents a dividend yield of 7%. The ex-dividend date is Friday, March 7th. This is a positive change from Rio Tinto Group’s previous semi-annual dividend of $1.77. Rio Tinto Group’s payout ratio is currently 69.15%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. Jefferies Financial Group cut their price target 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. Clarkson Capital upgraded Rio Tinto Group to a “strong-buy” rating in a report on Friday, February 28th. StockNews.com downgraded Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a report on Saturday, February 22nd. Finally, JPMorgan Chase & Co. started coverage on Rio Tinto Group in a research note on Tuesday, March 18th. They set an “overweight” rating on the stock. Three investment analysts have rated the stock with a hold rating, five have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $73.00.

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.