Rio Tinto Group (NYSE:RIO) Stake Raised by Foresight Global Investors Inc.

Foresight Global Investors Inc. boosted its holdings in shares of Rio Tinto Group (NYSE:RIO) by 97.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 31,645 shares of the mining company’s stock after buying an additional 15,650 shares during the quarter. Rio Tinto Group accounts for about 1.4% of Foresight Global Investors Inc.’s portfolio, making the stock its 10th largest holding. Foresight Global Investors Inc.’s holdings in Rio Tinto Group were worth $1,861,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of RIO. OVERSEA CHINESE BANKING Corp Ltd purchased a new position in shares of Rio Tinto Group during the fourth quarter worth $382,000. Horizon Investments LLC grew its position in Rio Tinto Group by 3.1% during the 4th quarter. Horizon Investments LLC now owns 9,903 shares of the mining company’s stock worth $582,000 after purchasing an additional 295 shares during the period. Advisors Asset Management Inc. raised its stake in shares of Rio Tinto Group by 2.0% during the 4th quarter. Advisors Asset Management Inc. now owns 80,911 shares of the mining company’s stock valued at $4,758,000 after buying an additional 1,578 shares during the last quarter. Cadence Wealth Management LLC lifted its holdings in shares of Rio Tinto Group by 4.1% in the 4th quarter. Cadence Wealth Management LLC now owns 12,201 shares of the mining company’s stock valued at $718,000 after buying an additional 481 shares during the period. Finally, Horizon Kinetics Asset Management LLC lifted its holdings in shares of Rio Tinto Group by 49.8% in the 4th quarter. Horizon Kinetics Asset Management LLC now owns 24,366 shares of the mining company’s stock valued at $1,433,000 after buying an additional 8,100 shares during the period. 19.33% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently commented on the company. Clarkson Capital raised Rio Tinto Group to a “strong-buy” rating in a report on Friday, February 28th. Jefferies Financial Group cut their target price 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. JPMorgan Chase & Co. assumed coverage on shares of Rio Tinto Group in a research note on Tuesday. They issued an “overweight” rating for the company. Finally, 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. Three equities research 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. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $73.00.

Rio Tinto Group Trading Up 1.0 %

Shares of NYSE:RIO opened at $64.12 on Wednesday. The business’s 50 day moving average price is $61.65 and its 200-day moving average price is $62.85. Rio Tinto Group has a 1 year low of $57.85 and a 1 year high of $74.24. The firm has a market capitalization of $80.35 billion, a price-to-earnings ratio of 9.94, 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 current ratio of 1.63 and a quick ratio of 1.16.

Rio Tinto Group Increases Dividend

The business also recently disclosed a semi-annual dividend, which will be paid on Thursday, April 17th. Shareholders of record on Friday, March 7th will be given a dividend of $2.23 per share. The ex-dividend date is Friday, March 7th. This is a boost 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 is currently 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.