Virtu Financial LLC Takes Position in Rio Tinto Group (NYSE:RIO)

Virtu Financial LLC purchased a new stake in Rio Tinto Group (NYSE:RIO) in the fourth quarter, Holdings Channel reports. The firm purchased 34,421 shares of the mining company’s stock, valued at approximately $2,024,000.

Other institutional investors have also made changes to their positions in the company. Thurston Springer Miller Herd & Titak Inc. increased its holdings in shares of Rio Tinto Group by 63.9% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 500 shares of the mining company’s stock valued at $29,000 after acquiring an additional 195 shares during the last quarter. Rakuten Securities Inc. increased its holdings in shares of Rio Tinto Group by 74.8% in the 4th quarter. Rakuten Securities Inc. now owns 493 shares of the mining company’s stock valued at $29,000 after acquiring an additional 211 shares during the last quarter. Golden State Wealth Management LLC bought a new stake in shares of Rio Tinto Group in the 4th quarter valued at approximately $47,000. HHM Wealth Advisors LLC bought a new stake in shares of Rio Tinto Group in the 4th quarter valued at approximately $50,000. Finally, FSC Wealth Advisors LLC increased its holdings in shares of Rio Tinto Group by 150.0% in the 4th quarter. FSC Wealth Advisors LLC now owns 1,000 shares of the mining company’s stock valued at $59,000 after acquiring an additional 600 shares during the last quarter. 19.33% of the stock is currently owned by institutional investors.

Rio Tinto Group Trading Down 1.4 %

Shares of RIO stock opened at $62.02 on Friday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.16 and a current ratio of 1.63. Rio Tinto Group has a 1 year low of $57.85 and a 1 year high of $74.24. The stock has a fifty day moving average of $61.90 and a two-hundred day moving average of $62.86. The firm has a market capitalization of $77.71 billion, a PE ratio of 9.61, a price-to-earnings-growth ratio of 0.42 and a beta of 0.60.

Rio Tinto Group Increases Dividend

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

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on RIO shares. JPMorgan Chase & Co. started coverage on Rio Tinto Group in a research report on Tuesday, March 18th. They set an “overweight” rating for the company. Clarkson Capital upgraded Rio Tinto Group to a “strong-buy” rating in a research report on Friday, February 28th. StockNews.com lowered Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a research report on Saturday, February 22nd. Finally, Jefferies Financial Group reduced 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. Three equities research analysts have rated the stock with a hold rating, five have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Rio Tinto Group has an average rating of “Moderate Buy” and a consensus price target of $73.00.

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.