Ashton Thomas Private Wealth LLC Acquires New Position in Rio Tinto Group (NYSE:RIO)

Ashton Thomas Private Wealth LLC bought a new position in Rio Tinto Group (NYSE:RIO) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 9,413 shares of the mining company’s stock, valued at approximately $554,000.

Several other institutional investors also recently bought and sold shares of the business. Thurston Springer Miller Herd & Titak Inc. grew its position in shares of Rio Tinto Group by 63.9% in the fourth 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 during the period. Golden State Wealth Management LLC acquired a new stake in Rio Tinto Group in the 4th quarter worth about $47,000. HHM Wealth Advisors LLC purchased a new stake in Rio Tinto Group in the 4th quarter valued at about $50,000. Newbridge Financial Services Group Inc. acquired a new position in shares of Rio Tinto Group during the 4th quarter valued at about $59,000. Finally, FSC Wealth Advisors LLC lifted its holdings in shares of Rio Tinto Group by 150.0% during the 4th quarter. FSC Wealth Advisors LLC now owns 1,000 shares of the mining company’s stock worth $59,000 after acquiring an additional 600 shares during the period. 19.33% of the stock is currently owned by institutional investors and hedge funds.

Rio Tinto Group Price Performance

RIO opened at $62.14 on Tuesday. Rio Tinto Group has a 52-week low of $57.85 and a 52-week high of $74.24. The company has a 50 day moving average of $61.19 and a two-hundred day moving average of $62.89. The company has a market cap of $77.86 billion, a P/E ratio of 9.63, a P/E/G ratio of 0.42 and a beta of 0.60. 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 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 given a dividend of $2.23 per share. This represents a yield of 7%. This is a boost from Rio Tinto Group’s previous semi-annual dividend of $1.77. The ex-dividend date of this dividend is Friday, March 7th. Rio Tinto Group’s dividend payout ratio is 69.15%.

Analyst Ratings Changes

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

About Rio Tinto Group

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.