LSV Asset Management Sells 7,200 Shares of Rio Tinto Group (NYSE:RIO)

LSV Asset Management cut its position in Rio Tinto Group (NYSE:RIO) by 12.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 52,700 shares of the mining company’s stock after selling 7,200 shares during the period. LSV Asset Management’s holdings in Rio Tinto Group were worth $3,924,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. AdvisorNet Financial Inc boosted its holdings in Rio Tinto Group by 785.7% during the fourth quarter. AdvisorNet Financial Inc now owns 372 shares of the mining company’s stock worth $28,000 after purchasing an additional 330 shares during the last quarter. SouthState Corp purchased a new stake in shares of Rio Tinto Group during the 3rd quarter worth approximately $32,000. Parkside Financial Bank & Trust raised its holdings in shares of Rio Tinto Group by 39.3% in the 4th quarter. Parkside Financial Bank & Trust now owns 553 shares of the mining company’s stock worth $41,000 after purchasing an additional 156 shares during the period. Financial Management Professionals Inc. lifted its stake in Rio Tinto Group by 250.6% in the fourth quarter. Financial Management Professionals Inc. now owns 617 shares of the mining company’s stock valued at $46,000 after purchasing an additional 441 shares during the last quarter. Finally, Bruce G. Allen Investments LLC bought a new position in Rio Tinto Group during the fourth quarter valued at $47,000. Institutional investors and hedge funds own 19.33% of the company’s stock.

Analyst Ratings Changes

RIO has been the topic of several research reports. Liberum Capital restated a “hold” rating on shares of Rio Tinto Group in a research note on Tuesday, March 5th. 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. Finally, StockNews.com raised shares of Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a report on Monday, April 29th. Two equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $72.00.

Rio Tinto Group Price Performance

Rio Tinto Group stock opened at $69.02 on Thursday. The business has a fifty day moving average price of $65.26 and a 200-day moving average price of $67.64. Rio Tinto Group has a one year low of $58.27 and a one year high of $75.09. The company has a quick ratio of 1.17, a current ratio of 1.69 and a debt-to-equity ratio of 0.23.

Rio Tinto Group Increases Dividend

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

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.