Sharpepoint LLC Makes New Investment in Rio Tinto Group (NYSE:RIO)

Sharpepoint LLC purchased a new stake in Rio Tinto Group (NYSE:RIO) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 19,500 shares of the mining company’s stock, valued at approximately $1,147,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. MML Investors Services LLC raised its holdings in Rio Tinto Group by 3.2% during the 4th quarter. MML Investors Services LLC now owns 41,563 shares of the mining company’s stock valued at $2,444,000 after acquiring an additional 1,308 shares during the period. Capital Research Global Investors purchased a new position in Rio Tinto Group during the 4th quarter valued at about $1,969,000. Forum Financial Management LP increased its position in shares of Rio Tinto Group by 93.8% during the fourth quarter. Forum Financial Management LP now owns 8,299 shares of the mining company’s stock valued at $488,000 after buying an additional 4,017 shares during the period. Capital International Investors purchased a new stake in shares of Rio Tinto Group in the fourth quarter worth about $1,380,000. Finally, Farringdon Capital Ltd. purchased a new stake in shares of Rio Tinto Group in the fourth quarter worth about $247,000. Institutional investors own 19.33% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Barclays reaffirmed an “overweight” rating on shares of Rio Tinto Group in a report on Wednesday. Clarkson Capital upgraded Rio Tinto Group to a “strong-buy” rating in a research report on Friday, February 28th. StockNews.com upgraded Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a research report on Sunday. JPMorgan Chase & Co. assumed coverage on Rio Tinto Group in a report on Tuesday, March 18th. They issued an “overweight” rating on the stock. Finally, DZ Bank raised Rio Tinto Group from a “hold” rating to a “strong-buy” rating in a report on Thursday, March 27th. Four research analysts have rated the stock with a hold rating, five have assigned a buy rating and four have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Rio Tinto Group has a consensus rating of “Buy” and an average target price of $73.00.

Rio Tinto Group Price Performance

Shares of Rio Tinto Group stock opened at $58.15 on Friday. The stock has a market capitalization of $72.91 billion, a P/E ratio of 9.02, a price-to-earnings-growth ratio of 0.42 and a beta of 0.66. Rio Tinto Group has a one year low of $51.67 and a one year high of $74.24. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.63 and a quick ratio of 1.16. The business’s 50 day simple moving average is $60.55 and its two-hundred day simple moving average is $61.84.

Rio Tinto Group Increases Dividend

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