Fisher Asset Management LLC Has $1.04 Billion Stake in Rio Tinto Group (NYSE:RIO)

Fisher Asset Management LLC boosted its stake in Rio Tinto Group (NYSE:RIO) by 0.4% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 17,604,463 shares of the mining company’s stock after buying an additional 76,368 shares during the period. Fisher Asset Management LLC’s holdings in Rio Tinto Group were worth $1,035,319,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Jeppson Wealth Management LLC boosted its stake in Rio Tinto Group by 47.5% in the 4th quarter. Jeppson Wealth Management LLC now owns 20,093 shares of the mining company’s stock valued at $1,182,000 after buying an additional 6,473 shares in the last quarter. Philip James Wealth Mangement LLC bought a new position in Rio Tinto Group in the 3rd quarter valued at $1,345,000. Northwest Bancshares Inc. bought a new position in Rio Tinto Group in the 3rd quarter valued at $1,440,000. Barclays PLC raised its position in Rio Tinto Group by 225.6% in the 3rd quarter. Barclays PLC now owns 335,637 shares of the mining company’s stock valued at $23,888,000 after purchasing an additional 232,539 shares during the last quarter. Finally, Marshall Financial Group LLC bought a new position in Rio Tinto Group in the 4th quarter valued at $810,000. Institutional investors and hedge funds own 19.33% of the company’s stock.

Analyst Upgrades and Downgrades

RIO has been the subject of several research analyst reports. StockNews.com downgraded 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 objective on Rio Tinto Group from $83.00 to $73.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Four investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Rio Tinto Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $73.00.

Rio Tinto Group Trading Down 0.3 %

RIO stock opened at $60.51 on Friday. The company has a market cap of $75.82 billion, a P/E ratio of 9.38, a PEG ratio of 0.42 and a beta of 0.65. Rio Tinto Group has a twelve month low of $57.85 and a twelve month high of $74.24. The company has a quick ratio of 1.16, a current ratio of 1.63 and a debt-to-equity ratio of 0.23. The business has a fifty day moving average of $60.77 and a 200-day moving average of $62.89.

Rio Tinto Group Increases Dividend

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