Rio Tinto Group (NYSE:RIO) Stake Lifted by Orion Portfolio Solutions LLC

Orion Portfolio Solutions LLC lifted its stake in shares of Rio Tinto Group (NYSE:RIO) by 7.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 47,592 shares of the mining company’s stock after acquiring an additional 3,261 shares during the quarter. Orion Portfolio Solutions LLC’s holdings in Rio Tinto Group were worth $2,799,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in RIO. Thurston Springer Miller Herd & Titak Inc. increased its position in shares of Rio Tinto Group by 63.9% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 500 shares of the mining company’s stock valued at $29,000 after purchasing an additional 195 shares during the period. Rakuten Securities Inc. raised its position in Rio Tinto Group by 74.8% in the fourth quarter. Rakuten Securities Inc. now owns 493 shares of the mining company’s stock worth $29,000 after acquiring an additional 211 shares in the last quarter. Golden State Wealth Management LLC acquired a new stake in Rio Tinto Group in the 4th quarter valued at about $47,000. HHM Wealth Advisors LLC bought a new position in shares of Rio Tinto Group during the 4th quarter valued at about $50,000. Finally, FSC Wealth Advisors LLC grew its stake 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 worth $59,000 after purchasing an additional 600 shares during the last quarter. Institutional investors own 19.33% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on RIO. DZ Bank upgraded shares of Rio Tinto Group from a “hold” rating to a “strong-buy” rating in a report on Thursday, March 27th. StockNews.com cut Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a report on Saturday, February 22nd. Clarkson Capital raised Rio Tinto Group to a “strong-buy” rating in a report on Friday, February 28th. JPMorgan Chase & Co. assumed coverage on Rio Tinto Group in a research report on Tuesday, March 18th. They issued an “overweight” rating for the company. Finally, Jefferies Financial Group cut their price objective on Rio Tinto Group from $83.00 to $73.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Three analysts have rated the stock with a hold rating, five have issued a buy rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Buy” and an average target price of $73.00.

Rio Tinto Group Stock Down 1.5 %

Shares of Rio Tinto Group stock opened at $60.11 on Tuesday. Rio Tinto Group has a 1 year low of $57.85 and a 1 year high of $74.24. The company has a market cap of $75.37 billion, a P/E ratio of 9.32, a P/E/G ratio of 0.42 and a beta of 0.60. 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 stock has a 50-day moving average price of $62.09 and a 200 day moving average price of $62.94.

Rio Tinto Group Increases Dividend

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

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.