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

Solstein Capital LLC trimmed its position in Rio Tinto Group (NYSE:RIO) by 26.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,793 shares of the mining company’s stock after selling 1,337 shares during the period. Solstein Capital LLC’s holdings in Rio Tinto Group were worth $223,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Thurston Springer Miller Herd & Titak Inc. lifted its stake in shares of Rio Tinto Group by 63.9% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 500 shares of the mining company’s stock valued at $29,000 after buying an additional 195 shares during the period. Rakuten Securities Inc. lifted its stake in shares of Rio Tinto Group by 74.8% during the 4th quarter. Rakuten Securities Inc. now owns 493 shares of the mining company’s stock worth $29,000 after purchasing an additional 211 shares during the period. Mechanics Financial Corp purchased a new position in shares of Rio Tinto Group during the 4th quarter worth $29,000. Golden State Wealth Management LLC acquired a new position in Rio Tinto Group in the fourth quarter valued at $47,000. Finally, HHM Wealth Advisors LLC purchased a new position in Rio Tinto Group during the fourth quarter worth about $50,000. 19.33% of the stock is owned by institutional investors and hedge funds.

Rio Tinto Group Price Performance

Rio Tinto Group stock opened at $54.66 on Friday. The firm has a fifty day moving average of $61.82 and a 200-day moving average of $62.82. Rio Tinto Group has a 52-week low of $53.96 and a 52-week 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 firm has a market capitalization of $68.54 billion, a P/E ratio of 8.47, a PEG ratio of 0.42 and a beta of 0.60.

Rio Tinto Group Increases Dividend

The business also recently disclosed a semi-annual dividend, which will be paid on Thursday, April 17th. Shareholders of record on Friday, March 7th will be given a $2.23 dividend. The ex-dividend date is Friday, March 7th. This is a positive change from Rio Tinto Group’s previous semi-annual dividend of $1.77. This represents a yield of 7%. Rio Tinto Group’s dividend payout ratio (DPR) is 69.15%.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. Jefferies Financial Group dropped 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 note on Monday, January 6th. Clarkson Capital raised shares of Rio Tinto Group to a “strong-buy” rating in a research report on Friday, February 28th. JPMorgan Chase & Co. initiated coverage on shares of Rio Tinto Group in a report on Tuesday, March 18th. They issued an “overweight” rating on the stock. DZ Bank upgraded Rio Tinto Group from a “hold” rating to a “strong-buy” rating in a report on Thursday, March 27th. Finally, StockNews.com upgraded Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a report on Friday. Three equities research analysts have rated the stock with a hold rating, four have issued a buy rating and four have given a strong buy rating to the company. Based on data from MarketBeat, Rio Tinto Group presently has a consensus rating of “Buy” and a consensus 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.