Modera Wealth Management LLC Decreases Stake in Rio Tinto Group (NYSE:RIO)

Modera Wealth Management LLC lessened its stake in shares of Rio Tinto Group (NYSE:RIO) by 6.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 65,905 shares of the mining company’s stock after selling 4,673 shares during the quarter. Modera Wealth Management LLC’s holdings in Rio Tinto Group were worth $3,876,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Thurston Springer Miller Herd & Titak Inc. boosted its position 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 valued at $29,000 after buying an additional 195 shares during the period. Hara Capital LLC bought a new stake in shares of Rio Tinto Group in the third quarter worth about $53,000. Golden State Wealth Management LLC bought a new stake in shares of Rio Tinto Group in the fourth quarter worth about $47,000. Nisa Investment Advisors LLC increased its holdings in Rio Tinto Group by 49.1% during the 3rd quarter. Nisa Investment Advisors LLC now owns 820 shares of the mining company’s stock valued at $58,000 after purchasing an additional 270 shares during the period. Finally, HHM Wealth Advisors LLC bought a new position in Rio Tinto Group during the 4th quarter valued at approximately $50,000. Institutional investors own 19.33% of the company’s stock.

Rio Tinto Group Trading Down 0.3 %

RIO opened at $60.51 on Monday. The stock has a market cap of $75.82 billion, a PE ratio of 9.38, a PEG ratio of 0.42 and a beta of 0.65. The business has a 50 day moving average of $60.77 and a 200-day moving average of $62.88. Rio Tinto Group has a 52 week low of $57.85 and a 52 week high of $74.24. 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 announced a semi-annual dividend, which will be paid on Thursday, April 17th. Stockholders of record on Friday, March 7th will be issued a dividend of $2.23 per share. This represents a dividend yield of 7%. The ex-dividend date of this dividend is Friday, March 7th. This is a boost from Rio Tinto Group’s previous semi-annual dividend of $1.77. Rio Tinto Group’s payout ratio is 69.15%.

Analyst Upgrades and Downgrades

RIO has been the topic of a number of recent analyst reports. StockNews.com lowered Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a research report on Saturday, February 22nd. Jefferies Financial Group reduced their price objective on shares of 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. Four investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $73.00.

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.