NewEdge Advisors LLC Has $2.62 Million Position in Rio Tinto Group (NYSE:RIO)

NewEdge Advisors LLC lessened its stake in shares of Rio Tinto Group (NYSE:RIO) by 14.7% during the 4th quarter, HoldingsChannel reports. The firm owned 44,478 shares of the mining company’s stock after selling 7,686 shares during the quarter. NewEdge Advisors LLC’s holdings in Rio Tinto Group were worth $2,616,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently bought and sold shares of the company. Fisher Asset Management LLC raised its stake in Rio Tinto Group by 0.4% during the 4th quarter. Fisher Asset Management LLC now owns 17,604,463 shares of the mining company’s stock valued at $1,035,319,000 after purchasing an additional 76,368 shares during the last quarter. Franklin Resources Inc. boosted its stake in Rio Tinto Group by 1.4% in the fourth 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. FMR LLC grew its holdings in shares of Rio Tinto Group by 24.6% during the fourth quarter. FMR LLC now owns 1,721,690 shares of the mining company’s stock worth $101,253,000 after purchasing an additional 339,924 shares during the last quarter. Todd Asset Management LLC increased its stake in shares of Rio Tinto Group by 1.0% in the fourth quarter. Todd Asset Management LLC now owns 1,068,182 shares of the mining company’s stock valued at $62,820,000 after buying an additional 10,062 shares in the last quarter. Finally, Palliser Capital UK Ltd raised its holdings in shares of Rio Tinto Group by 213.8% in the fourth quarter. Palliser Capital UK Ltd now owns 989,417 shares of the mining company’s stock valued at $58,188,000 after buying an additional 674,117 shares during the last quarter. Institutional investors own 19.33% of the company’s stock.

Rio Tinto Group Trading Up 0.6 %

NYSE RIO opened at $58.54 on Tuesday. 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 has a 12 month low of $51.67 and a 12 month high of $74.24. The company has a market capitalization of $73.41 billion, a PE ratio of 9.08, a P/E/G ratio of 0.42 and a beta of 0.66. The stock has a 50-day simple moving average of $60.48 and a 200 day simple moving average of $61.71.

Rio Tinto Group Increases Dividend

The company also recently declared a semi-annual dividend, which was paid on Thursday, April 17th. Investors of record on Friday, March 7th were given a $2.23 dividend. This represents a dividend yield of 7%. This is an increase from Rio Tinto Group’s previous semi-annual dividend of $1.77. The ex-dividend date was Friday, March 7th. Rio Tinto Group’s dividend payout ratio (DPR) is currently 69.15%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. StockNews.com upgraded shares of Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a research report on Sunday. JPMorgan Chase & Co. started coverage on shares of Rio Tinto Group in a research report on Tuesday, March 18th. They issued an “overweight” rating for the company. DZ Bank upgraded Rio Tinto Group from a “hold” rating to a “strong-buy” rating in a research report on Thursday, March 27th. Jefferies Financial Group cut their price target on Rio Tinto Group from $83.00 to $73.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Finally, Clarkson Capital upgraded Rio Tinto Group to a “strong-buy” rating in a research report on Friday, February 28th. Four investment analysts have rated the stock with a hold rating, five have assigned a buy rating and four have issued a strong buy rating to the stock. Based on data from MarketBeat, Rio Tinto Group currently has an average rating of “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.