Rio Tinto Group (NYSE:RIO) Shares Sold by Advanced Portfolio Management LLC

Advanced Portfolio Management LLC reduced its position in Rio Tinto Group (NYSE:RIO - Free Report) by 64.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 12,500 shares of the mining company's stock after selling 22,500 shares during the period. Advanced Portfolio Management LLC's holdings in Rio Tinto Group were worth $735,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also made changes to their positions in the company. Keel Point LLC increased its stake in shares of Rio Tinto Group by 9.7% in the fourth quarter. Keel Point LLC now owns 3,876 shares of the mining company's stock worth $228,000 after purchasing an additional 342 shares in the last quarter. Dynamo Internacional Gestao DE Recursos LTDA. grew its holdings in Rio Tinto Group by 119.2% during the 4th quarter. Dynamo Internacional Gestao DE Recursos LTDA. now owns 129,804 shares of the mining company's stock valued at $2,423,000 after buying an additional 807,610 shares in the last quarter. WealthCollab LLC boosted its position in shares of Rio Tinto Group by 35.9% during the fourth quarter. WealthCollab LLC now owns 1,029 shares of the mining company's stock worth $61,000 after acquiring an additional 272 shares during the last quarter. Paloma Partners Management Co purchased a new position in Rio Tinto Group during the fourth quarter valued at $40,032,000. Finally, Northern Trust Corp lifted its position in shares of Rio Tinto Group by 18.9% in the fourth quarter. Northern Trust Corp now owns 1,603,037 shares of the mining company's stock worth $94,275,000 after buying an additional 255,151 shares in the last quarter. 19.33% of the stock is currently owned by institutional investors.

Rio Tinto Group Stock Performance

NYSE RIO traded down $0.72 during trading hours on Thursday, hitting $59.30. 1,559,333 shares of the stock were exchanged, compared to its average volume of 2,852,148. The company has a market cap of $74.36 billion, a price-to-earnings ratio of 9.19, a price-to-earnings-growth ratio of 0.42 and a beta of 0.73. The stock has a 50-day moving average of $59.85 and a 200 day moving average of $61.23. Rio Tinto Group has a 12-month low of $51.67 and a 12-month high of $74.24. The company has a quick ratio of 1.16, a current ratio of 1.63 and a debt-to-equity ratio of 0.23.

Rio Tinto Group Increases Dividend

The firm 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. The ex-dividend date of this dividend was Friday, March 7th. This is an increase from Rio Tinto Group's previous semi-annual dividend of $1.77. This represents a yield of 7%. Rio Tinto Group's payout ratio is 69.15%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. StockNews.com lowered shares of Rio Tinto Group from a "strong-buy" rating to a "buy" rating in a report on Monday, April 28th. JPMorgan Chase & Co. initiated coverage on Rio Tinto Group in a research report on Tuesday, March 18th. They issued an "overweight" rating on the stock. 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. Clarkson Capital raised shares of Rio Tinto Group to a "strong-buy" rating in a research report on Friday, February 28th. Finally, Barclays reiterated an "overweight" rating on shares of Rio Tinto Group in a report on Wednesday, April 16th. Four research analysts have rated the stock with a hold rating, six have given a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price 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.