Simplicity Solutions LLC Purchases 804 Shares of Rio Tinto Group (NYSE:RIO)

Simplicity Solutions LLC grew its position in Rio Tinto Group (NYSE:RIO) by 16.0% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 5,821 shares of the mining company’s stock after acquiring an additional 804 shares during the period. Simplicity Solutions LLC’s holdings in Rio Tinto Group were worth $433,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the company. AlphaQ Advisors LLC lifted its stake in shares of Rio Tinto Group by 5.3% in the 4th quarter. AlphaQ Advisors LLC now owns 4,862 shares of the mining company’s stock valued at $362,000 after acquiring an additional 244 shares during the last quarter. NewEdge Wealth LLC lifted its stake in shares of Rio Tinto Group by 45.5% in the 4th quarter. NewEdge Wealth LLC now owns 19,294 shares of the mining company’s stock valued at $1,437,000 after acquiring an additional 6,030 shares during the last quarter. Perigon Wealth Management LLC increased its holdings in Rio Tinto Group by 3.7% in the fourth quarter. Perigon Wealth Management LLC now owns 22,157 shares of the mining company’s stock valued at $1,650,000 after purchasing an additional 782 shares during the period. Valeo Financial Advisors LLC increased its holdings in Rio Tinto Group by 7.1% in the fourth quarter. Valeo Financial Advisors LLC now owns 8,665 shares of the mining company’s stock valued at $645,000 after purchasing an additional 578 shares during the period. Finally, Sapient Capital LLC acquired a new stake in Rio Tinto Group in the fourth quarter valued at $423,000. 19.33% of the stock is currently owned by institutional investors.

Rio Tinto Group Stock Down 0.1 %

Shares of Rio Tinto Group stock opened at $66.69 on Friday. The company has a current ratio of 1.69, a quick ratio of 1.17 and a debt-to-equity ratio of 0.23. The business has a 50-day moving average price of $64.89 and a two-hundred day moving average price of $67.02. Rio Tinto Group has a 1-year low of $58.27 and a 1-year high of $75.09.

Rio Tinto Group Increases Dividend

The company also recently announced a semi-annual dividend, which was paid on Thursday, April 18th. Shareholders of record on Friday, March 8th were given a dividend of $2.58 per share. The ex-dividend date was Thursday, March 7th. This represents a dividend yield of 6.6%. This is a boost from Rio Tinto Group’s previous semi-annual dividend of $1.77.

Analysts Set New Price Targets

A number of analysts recently weighed in on the company. The Goldman Sachs Group assumed coverage on Rio Tinto Group in a report on Friday, January 12th. They issued a “buy” rating for the company. Liberum Capital restated a “hold” rating on shares of Rio Tinto Group in a report on Tuesday, March 5th. Finally, StockNews.com upgraded Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a report on Thursday. Two equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Rio Tinto Group presently has an average rating of “Moderate Buy” and a consensus price target of $72.00.

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.