Rio Tinto Group (NYSE:RIO) Shares Sold by Berkeley Capital Partners LLC

Berkeley Capital Partners LLC lowered its stake in shares of Rio Tinto Group (NYSE:RIO) by 4.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 12,164 shares of the mining company’s stock after selling 570 shares during the period. Berkeley Capital Partners LLC’s holdings in Rio Tinto Group were worth $715,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the stock. Foresight Global Investors Inc. boosted its stake in shares of Rio Tinto Group by 97.8% during the fourth quarter. Foresight Global Investors Inc. now owns 31,645 shares of the mining company’s stock valued at $1,861,000 after acquiring an additional 15,650 shares during the last quarter. OVERSEA CHINESE BANKING Corp Ltd acquired a new stake in Rio Tinto Group in the 4th quarter worth about $382,000. Horizon Investments LLC boosted its stake in Rio Tinto Group by 3.1% in the 4th quarter. Horizon Investments LLC now owns 9,903 shares of the mining company’s stock worth $582,000 after buying an additional 295 shares during the last quarter. Advisors Asset Management Inc. boosted its stake in Rio Tinto Group by 2.0% in the 4th quarter. Advisors Asset Management Inc. now owns 80,911 shares of the mining company’s stock worth $4,758,000 after buying an additional 1,578 shares during the last quarter. Finally, Cadence Wealth Management LLC boosted its stake in 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 worth $718,000 after buying an additional 481 shares during the last quarter. Institutional investors and hedge funds own 19.33% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have issued reports on RIO shares. Jefferies Financial Group decreased their price target on 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. JPMorgan Chase & Co. started coverage on Rio Tinto Group in a research note on Tuesday. They issued an “overweight” rating on the stock. Clarkson Capital raised Rio Tinto Group to a “strong-buy” rating in a research note on Friday, February 28th. Finally, StockNews.com lowered Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a research note on Saturday, February 22nd. Three research analysts have rated the stock with a hold rating, five have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $73.00.

Rio Tinto Group Stock Performance

NYSE RIO opened at $63.88 on Thursday. The firm has a market capitalization of $80.04 billion, a P/E ratio of 9.90, a P/E/G ratio of 0.42 and a beta of 0.60. Rio Tinto Group has a 1-year low of $57.85 and a 1-year high of $74.24. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.63 and a quick ratio of 1.16. The business’s 50-day simple moving average is $61.76 and its 200-day simple moving average is $62.85.

Rio Tinto Group Increases Dividend

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

Rio Tinto Group Company 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.