Rio Tinto Group (NYSE:RIO) Shares Sold by OLD Mission Capital LLC

OLD Mission Capital LLC decreased its position in shares of Rio Tinto Group (NYSE:RIO) by 61.9% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 72,500 shares of the mining company’s stock after selling 117,779 shares during the quarter. OLD Mission Capital LLC’s holdings in Rio Tinto Group were worth $4,264,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Nemes Rush Group LLC lifted its stake in shares of Rio Tinto Group by 10.0% in the 4th quarter. Nemes Rush Group LLC now owns 1,855 shares of the mining company’s stock worth $109,000 after acquiring an additional 169 shares during the period. National Bank of Canada FI increased its stake in shares of Rio Tinto Group by 1.8% during the 4th quarter. National Bank of Canada FI now owns 116,463 shares of the mining company’s stock worth $6,849,000 after purchasing an additional 2,070 shares in the last quarter. Franklin Resources Inc. increased its position in Rio Tinto Group by 1.4% during the 4th quarter. Franklin Resources Inc. now owns 5,115,476 shares of the mining company’s stock worth $300,841,000 after purchasing an additional 70,131 shares in the last quarter. O Shaughnessy Asset Management LLC lifted its stake in shares of Rio Tinto Group by 17.4% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 176,460 shares of the mining company’s stock valued at $10,378,000 after buying an additional 26,202 shares during the period. Finally, CIBC Private Wealth Group LLC boosted its holdings in shares of Rio Tinto Group by 56.0% during the fourth quarter. CIBC Private Wealth Group LLC now owns 16,491 shares of the mining company’s stock worth $967,000 after purchasing an additional 5,918 shares during the last quarter. Hedge funds and other institutional investors own 19.33% of the company’s stock.

Rio Tinto Group Price Performance

Shares of NYSE:RIO opened at $60.29 on Wednesday. The business has a fifty day simple moving average of $62.06 and a 200 day simple moving average of $62.93. Rio Tinto Group has a 1 year low of $57.85 and a 1 year high of $74.24. The firm has a market cap of $75.61 billion, a price-to-earnings ratio of 9.35, a P/E/G ratio of 0.42 and a beta of 0.60. The company has a current ratio of 1.63, a quick ratio of 1.16 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. Shareholders of record on Friday, March 7th will be issued a $2.23 dividend. The ex-dividend date of this dividend is Friday, March 7th. This represents a yield of 7%. This is a positive change from Rio Tinto Group’s previous semi-annual dividend of $1.77. Rio Tinto Group’s dividend payout ratio (DPR) is 69.15%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on RIO. Jefferies Financial Group reduced their target price 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. Clarkson Capital upgraded shares of Rio Tinto Group to a “strong-buy” rating in a research note on Friday, February 28th. JPMorgan Chase & Co. initiated coverage on Rio Tinto Group in a research report on Tuesday, March 18th. They set an “overweight” rating on the stock. DZ Bank raised Rio Tinto Group from a “hold” rating to a “strong-buy” rating in a report on Thursday, March 27th. Finally, StockNews.com lowered shares of 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 issued a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $73.00.

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.