1,447 Shares in Rio Tinto Group (NYSE:RIO) Acquired by Bank Julius Baer & Co. Ltd Zurich

Bank Julius Baer & Co. Ltd Zurich bought a new position in shares of Rio Tinto Group (NYSE:RIO) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,447 shares of the mining company’s stock, valued at approximately $94,000.

A number of other large investors have also recently made changes to their positions in RIO. Assetmark Inc. increased its stake in shares of Rio Tinto Group by 2.3% during the third quarter. Assetmark Inc. now owns 63,410 shares of the mining company’s stock worth $4,513,000 after buying an additional 1,401 shares during the period. Patten & Patten Inc. TN purchased a new stake in shares of Rio Tinto Group during the third quarter worth approximately $209,000. Chartwell Investment Partners LLC purchased a new stake in shares of Rio Tinto Group during the third quarter worth approximately $1,459,000. Jaffetilchin Investment Partners LLC purchased a new stake in shares of Rio Tinto Group during the third quarter worth approximately $493,000. Finally, Aigen Investment Management LP purchased a new stake in shares of Rio Tinto Group during the third quarter worth approximately $431,000. 19.33% of the stock is currently owned by hedge funds and other institutional investors.

Rio Tinto Group Price Performance

RIO stock opened at $61.84 on Wednesday. The company has a current ratio of 1.63, a quick ratio of 1.16 and a debt-to-equity ratio of 0.23. The business has a 50 day simple moving average of $61.25 and a 200-day simple moving average of $62.88. Rio Tinto Group has a twelve month low of $57.85 and a twelve month high of $74.24. The company has a market capitalization of $77.48 billion, a P/E ratio of 9.59, a PEG ratio of 0.42 and a beta of 0.60.

Rio Tinto Group Increases Dividend

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

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on RIO shares. StockNews.com downgraded Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a report on Saturday, February 22nd. Jefferies Financial Group lowered their price target on Rio Tinto Group from $83.00 to $73.00 and set a “buy” rating for the company in a report on Monday, January 6th. Finally, Clarkson Capital raised Rio Tinto Group to a “strong-buy” rating in a report on Friday, February 28th. Three equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, Rio Tinto Group currently has a consensus rating of “Moderate Buy” and an average target price of $73.00.

About Rio Tinto Group

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.