Bailard Inc. Sells 1,126 Shares of Rio Tinto Group (NYSE:RIO)

Bailard Inc. trimmed its stake in shares of Rio Tinto Group (NYSE:RIO) by 8.9% during the fourth quarter, Holdings Channel.com reports. The firm owned 11,537 shares of the mining company’s stock after selling 1,126 shares during the period. Bailard Inc.’s holdings in Rio Tinto Group were worth $678,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of RIO. Palliser Capital UK Ltd lifted its holdings in Rio Tinto Group by 213.8% during the 4th quarter. Palliser Capital UK Ltd now owns 989,417 shares of the mining company’s stock worth $58,188,000 after buying an additional 674,117 shares in the last quarter. Fisher Asset Management LLC boosted its position in Rio Tinto Group by 2.9% in the 3rd quarter. Fisher Asset Management LLC now owns 17,528,095 shares of the mining company’s stock valued at $1,247,475,000 after buying an additional 485,731 shares during the last quarter. SPX Gestao de Recursos Ltda boosted its position in Rio Tinto Group by 1,773.2% in the 3rd quarter. SPX Gestao de Recursos Ltda now owns 426,922 shares of the mining company’s stock valued at $30,384,000 after buying an additional 404,131 shares during the last quarter. FMR LLC boosted its position in Rio Tinto Group by 35.1% in the 3rd quarter. FMR LLC now owns 1,381,766 shares of the mining company’s stock valued at $98,340,000 after buying an additional 358,630 shares during the last quarter. Finally, ABC Arbitrage SA bought a new position in Rio Tinto Group in the 4th quarter valued at $20,026,000. 19.33% of the stock is owned by institutional investors.

Rio Tinto Group Trading Up 0.8 %

NYSE:RIO opened at $61.04 on Tuesday. The business has a 50 day moving average price of $60.81 and a two-hundred day moving average price of $62.87. The company has a quick ratio of 1.16, a current ratio of 1.63 and a debt-to-equity ratio of 0.23. The company has a market cap of $76.49 billion, a P/E ratio of 9.46, a price-to-earnings-growth ratio of 0.42 and a beta of 0.65. Rio Tinto Group has a twelve month low of $57.85 and a twelve month high of $74.24.

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 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 69.15%.

Analysts Set New Price Targets

RIO has been the topic of several recent research reports. StockNews.com lowered shares of Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a research note on Saturday, February 22nd. Jefferies Financial Group reduced their target price on shares of Rio Tinto Group from $83.00 to $73.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Four investment 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 stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target 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.