GAMMA Investing LLC Purchases New Holdings in Rio Tinto Group (NYSE:RIO)

GAMMA Investing LLC purchased a new stake in shares of Rio Tinto Group (NYSE:RIO) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 1,760 shares of the mining company’s stock, valued at approximately $122,000.

A number of other large investors also recently bought and sold shares of RIO. AdvisorNet Financial Inc lifted its position in Rio Tinto Group by 785.7% during the 4th quarter. AdvisorNet Financial Inc now owns 372 shares of the mining company’s stock valued at $28,000 after acquiring an additional 330 shares during the period. SouthState Corp purchased a new position in Rio Tinto Group during the 3rd quarter valued at about $32,000. Parkside Financial Bank & Trust lifted its position in Rio Tinto Group by 39.3% during the 4th quarter. Parkside Financial Bank & Trust now owns 553 shares of the mining company’s stock valued at $41,000 after acquiring an additional 156 shares during the period. Financial Management Professionals Inc. lifted its position in Rio Tinto Group by 250.6% during the 4th quarter. Financial Management Professionals Inc. now owns 617 shares of the mining company’s stock valued at $46,000 after acquiring an additional 441 shares during the period. Finally, Bruce G. Allen Investments LLC purchased a new position in Rio Tinto Group during the 4th quarter valued at about $47,000. 19.33% of the stock is owned by hedge funds and other institutional investors.

Rio Tinto Group Price Performance

RIO opened at $68.24 on Friday. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.69 and a quick ratio of 1.17. The firm has a 50 day moving average price of $64.86 and a 200-day moving average price of $67.30. Rio Tinto Group has a twelve month low of $58.27 and a twelve month high of $75.09.

Rio Tinto Group Increases Dividend

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

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Liberum Capital reissued a “hold” rating on shares of Rio Tinto Group in a research report on Tuesday, March 5th. StockNews.com raised shares of Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a report on Thursday, April 18th. Finally, The Goldman Sachs Group initiated coverage on shares of Rio Tinto Group in a report on Friday, January 12th. They issued a “buy” rating for the company. Two research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Rio Tinto Group has a consensus 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.