Capital Research Global Investors Takes Position in Rio Tinto Group (NYSE:RIO)

Capital Research Global Investors acquired a new position in shares of Rio Tinto Group (NYSE:RIO) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 33,611 shares of the mining company’s stock, valued at approximately $1,969,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Fisher Asset Management LLC increased its stake in shares of Rio Tinto Group by 0.4% in the fourth quarter. Fisher Asset Management LLC now owns 17,604,463 shares of the mining company’s stock valued at $1,035,319,000 after buying an additional 76,368 shares during the period. Franklin Resources Inc. lifted its holdings in shares of Rio Tinto Group by 1.4% during the fourth quarter. Franklin Resources Inc. now owns 5,115,476 shares of the mining company’s stock worth $300,841,000 after purchasing an additional 70,131 shares during the period. FMR LLC grew its stake in shares of Rio Tinto Group by 24.6% in the fourth quarter. FMR LLC now owns 1,721,690 shares of the mining company’s stock worth $101,253,000 after purchasing an additional 339,924 shares during the last quarter. Todd Asset Management LLC raised its position in Rio Tinto Group by 1.0% during the 4th quarter. Todd Asset Management LLC now owns 1,068,182 shares of the mining company’s stock worth $62,820,000 after purchasing an additional 10,062 shares during the last quarter. Finally, Palliser Capital UK Ltd lifted its stake in shares of Rio Tinto Group by 213.8% in the fourth quarter. Palliser Capital UK Ltd now owns 989,417 shares of the mining company’s stock worth $58,188,000 after acquiring an additional 674,117 shares during the period. Institutional investors and hedge funds own 19.33% of the company’s stock.

Wall Street Analysts Forecast Growth

RIO has been the topic of several recent analyst reports. Barclays restated an “overweight” rating on shares of Rio Tinto Group in a report on Wednesday, April 16th. JPMorgan Chase & Co. initiated coverage on Rio Tinto Group in a report on Tuesday, March 18th. They issued an “overweight” rating for the company. StockNews.com upgraded Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a report on Sunday. Morgan Stanley lowered shares of Rio Tinto Group from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, April 9th. Finally, Jefferies Financial Group decreased their price target 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. Four equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and four have given a strong buy rating to the company’s 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 Trading Up 0.6 %

RIO opened at $58.54 on Tuesday. Rio Tinto Group has a fifty-two week low of $51.67 and a fifty-two week high of $74.24. The firm has a market capitalization of $73.41 billion, a PE ratio of 9.08, a P/E/G ratio of 0.42 and a beta of 0.66. 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 company’s 50-day moving average is $60.48 and its 200 day moving average is $61.71.

Rio Tinto Group Increases Dividend

The business also recently announced a semi-annual dividend, which was paid on Thursday, April 17th. Stockholders of record on Friday, March 7th were issued a $2.23 dividend. This represents a dividend 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 currently 69.15%.

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.