Kohmann Bosshard Financial Services LLC Makes New Investment in Rio Tinto Group (NYSE:RIO)

Kohmann Bosshard Financial Services LLC bought a new stake in Rio Tinto Group (NYSE:RIO) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 1,375 shares of the mining company’s stock, valued at approximately $81,000.

Several other hedge funds have also modified their holdings of RIO. Nisa Investment Advisors LLC grew its position in Rio Tinto Group by 49.1% in the third quarter. Nisa Investment Advisors LLC now owns 820 shares of the mining company’s stock valued at $58,000 after acquiring an additional 270 shares in the last quarter. Stephens Inc. AR boosted its stake in shares of Rio Tinto Group by 17.6% in the third quarter. Stephens Inc. AR now owns 53,693 shares of the mining company’s stock valued at $3,821,000 after purchasing an additional 8,041 shares during the period. Allen Wealth Management LLC grew its holdings in Rio Tinto Group by 1.8% during the 3rd quarter. Allen Wealth Management LLC now owns 24,128 shares of the mining company’s stock valued at $1,717,000 after purchasing an additional 434 shares in the last quarter. Van ECK Associates Corp increased its stake in Rio Tinto Group by 10.7% during the 3rd quarter. Van ECK Associates Corp now owns 693,102 shares of the mining company’s stock worth $49,328,000 after buying an additional 67,213 shares during the period. Finally, Quintet Private Bank Europe S.A. increased its stake in Rio Tinto Group by 11.7% during the 3rd quarter. Quintet Private Bank Europe S.A. now owns 4,165 shares of the mining company’s stock worth $296,000 after buying an additional 437 shares during the period. 19.33% of the stock is currently owned by hedge funds and other institutional investors.

Rio Tinto Group Trading Down 0.3 %

NYSE RIO opened at $60.51 on Monday. The company has a market capitalization of $75.82 billion, a price-to-earnings ratio of 9.38, a price-to-earnings-growth ratio of 0.42 and a beta of 0.65. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.63 and a quick ratio of 1.16. Rio Tinto Group has a 12 month low of $57.85 and a 12 month high of $74.24. The company’s fifty day moving average price is $60.77 and its two-hundred day moving average price is $62.88.

Rio Tinto Group Increases Dividend

The business also recently declared 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. This is a boost from Rio Tinto Group’s previous semi-annual dividend of $1.77. The ex-dividend date is Friday, March 7th. This represents a dividend yield of 7%. Rio Tinto Group’s dividend payout ratio (DPR) is presently 69.15%.

Wall Street Analysts Forecast Growth

RIO has been the subject of a number of analyst reports. Jefferies Financial Group decreased their price objective on shares of 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. StockNews.com downgraded Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a report on Saturday, February 22nd. Four investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $73.00.

Rio Tinto Group 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.