Solitude Financial Services Has $538,000 Stock Holdings in Rio Tinto Group (NYSE:RIO)

Solitude Financial Services lifted its position in Rio Tinto Group (NYSE:RIO) by 23.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,150 shares of the mining company’s stock after buying an additional 1,750 shares during the period. Rio Tinto Group comprises 0.2% of Solitude Financial Services’ holdings, making the stock its 24th largest position. Solitude Financial Services’ holdings in Rio Tinto Group were worth $538,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the company. Thurston Springer Miller Herd & Titak Inc. raised its position in shares of Rio Tinto Group by 63.9% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 500 shares of the mining company’s stock worth $29,000 after purchasing an additional 195 shares during the period. Golden State Wealth Management LLC acquired a new stake in Rio Tinto Group during the 4th quarter worth approximately $47,000. HHM Wealth Advisors LLC bought a new position in Rio Tinto Group in the fourth quarter valued at approximately $50,000. FSC Wealth Advisors LLC boosted its holdings in shares of Rio Tinto Group by 150.0% in the fourth quarter. FSC Wealth Advisors LLC now owns 1,000 shares of the mining company’s stock valued at $59,000 after buying an additional 600 shares during the period. Finally, Newbridge Financial Services Group Inc. bought a new stake in shares of Rio Tinto Group during the fourth quarter worth $59,000. Institutional investors own 19.33% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. 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. Jefferies Financial Group cut their price target on Rio Tinto Group from $83.00 to $73.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Finally, Clarkson Capital upgraded Rio Tinto Group to a “strong-buy” rating in a report on Friday, February 28th. Three research analysts have rated the stock with a hold rating, four have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $73.00.

Rio Tinto Group Trading Down 2.5 %

Shares of NYSE:RIO opened at $62.33 on Monday. The company’s 50-day moving average price is $61.12 and its two-hundred day moving average price is $62.89. Rio Tinto Group has a one year low of $57.85 and a one 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 stock has a market capitalization of $78.10 billion, a PE ratio of 9.66, a price-to-earnings-growth ratio of 0.42 and a beta of 0.60.

Rio Tinto Group Increases Dividend

The business also recently announced a semi-annual dividend, which will be paid on Thursday, April 17th. Investors of record on Friday, March 7th will be issued a dividend of $2.23 per share. This represents a yield of 7%. The ex-dividend date of this dividend is Friday, March 7th. This is a positive change from Rio Tinto Group’s previous semi-annual dividend of $1.77. Rio Tinto Group’s dividend payout ratio is presently 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.