Horizon Investments LLC Buys 295 Shares of Rio Tinto Group (NYSE:RIO)

Horizon Investments LLC raised its stake in shares of Rio Tinto Group (NYSE:RIO) by 3.1% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 9,903 shares of the mining company’s stock after acquiring an additional 295 shares during the quarter. Horizon Investments LLC’s holdings in Rio Tinto Group were worth $582,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in RIO. Palliser Capital UK Ltd boosted its position in Rio Tinto Group by 213.8% in the fourth quarter. Palliser Capital UK Ltd now owns 989,417 shares of the mining company’s stock valued at $58,188,000 after buying an additional 674,117 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of Rio Tinto Group in the 4th quarter worth approximately $29,606,000. Fisher Asset Management LLC grew its position in Rio Tinto Group by 2.9% during the 3rd quarter. Fisher Asset Management LLC now owns 17,528,095 shares of the mining company’s stock worth $1,247,475,000 after acquiring an additional 485,731 shares during the last quarter. SPX Gestao de Recursos Ltda increased its holdings in Rio Tinto Group by 1,773.2% during 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 purchasing an additional 404,131 shares in the last quarter. Finally, FMR LLC raised 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 purchasing an additional 358,630 shares during the last quarter. Institutional investors and hedge funds own 19.33% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on RIO. Jefferies Financial Group cut their price target on 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. began coverage on shares of Rio Tinto Group in a research note on Tuesday. They issued an “overweight” rating for the company. Clarkson Capital raised shares of Rio Tinto Group to a “strong-buy” rating in a research note on Friday, February 28th. Finally, StockNews.com cut shares of Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a research report on Saturday, February 22nd. Three research analysts have rated the stock with a hold rating, five have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $73.00.

Rio Tinto Group Price Performance

NYSE RIO opened at $63.88 on Thursday. The firm’s 50 day moving average is $61.76 and its 200-day moving average is $62.85. 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 12-month low of $57.85 and a 12-month high of $74.24. The company has a market capitalization of $80.04 billion, a PE ratio of 9.90, a price-to-earnings-growth ratio of 0.42 and a beta of 0.60.

Rio Tinto Group Increases Dividend

The company also recently declared a semi-annual dividend, which will be paid on Thursday, April 17th. Shareholders of record on Friday, March 7th will be paid a $2.23 dividend. The ex-dividend date is Friday, March 7th. This represents a yield of 7%. This is a boost from Rio Tinto Group’s previous semi-annual dividend of $1.77. Rio Tinto Group’s dividend payout ratio (DPR) is currently 69.15%.

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.