Rio Tinto Group (NYSE:RIO) Shares Sold by Oppenheimer & Co. Inc.

Oppenheimer & Co. Inc. reduced its stake in Rio Tinto Group (NYSE:RIO) by 28.2% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 27,691 shares of the mining company’s stock after selling 10,895 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Rio Tinto Group were worth $1,629,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the stock. Oppenheimer Asset Management Inc. lifted its holdings in shares of Rio Tinto Group by 13.2% in the 4th quarter. Oppenheimer Asset Management Inc. now owns 166,826 shares of the mining company’s stock worth $9,811,000 after acquiring an additional 19,485 shares during the last quarter. Kovack Advisors Inc. lifted its holdings in shares of Rio Tinto Group by 7.7% in the 4th quarter. Kovack Advisors Inc. now owns 7,467 shares of the mining company’s stock worth $439,000 after acquiring an additional 533 shares during the last quarter. Whipplewood Advisors LLC acquired a new position in shares of Rio Tinto Group in the 4th quarter worth approximately $73,000. Sprott Inc. lifted its holdings in shares of Rio Tinto Group by 77.7% in the 4th quarter. Sprott Inc. now owns 8,922 shares of the mining company’s stock worth $525,000 after acquiring an additional 3,901 shares during the last quarter. Finally, Todd Asset Management LLC lifted its holdings 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 buying an additional 10,062 shares in the last quarter. 19.33% of the stock is currently owned by institutional investors and hedge funds.

Rio Tinto Group Trading Up 0.8 %

Shares of NYSE:RIO opened at $61.04 on Tuesday. Rio Tinto Group has a 52 week low of $57.85 and a 52 week high of $74.24. The company’s 50 day moving average is $60.81 and its two-hundred day moving average is $62.87. 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 company has a market cap of $76.49 billion, a PE ratio of 9.46, a P/E/G ratio of 0.42 and a beta of 0.65.

Rio Tinto Group Increases Dividend

The company also recently disclosed a semi-annual dividend, which will be paid on Thursday, April 17th. Shareholders of record on Friday, March 7th will be given a $2.23 dividend. 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 is currently 69.15%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on RIO shares. Jefferies Financial Group reduced their target price on shares of Rio Tinto Group from $83.00 to $73.00 and set a “buy” rating on the stock in a report on Monday, January 6th. StockNews.com lowered shares of Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a report on Saturday, February 22nd. Four investment analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Rio Tinto Group has a consensus 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.