Ameriprise Financial Inc. Has $36.43 Million Holdings in Rio Tinto Group (NYSE:RIO)

Ameriprise Financial Inc. raised its position in Rio Tinto Group (NYSE:RIO - Free Report) by 169.4% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 619,494 shares of the mining company's stock after buying an additional 389,531 shares during the period. Ameriprise Financial Inc.'s holdings in Rio Tinto Group were worth $36,428,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Rakuten Securities Inc. boosted its position in shares of Rio Tinto Group by 74.8% in the 4th quarter. Rakuten Securities Inc. now owns 493 shares of the mining company's stock worth $29,000 after purchasing an additional 211 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. boosted its position in shares of Rio Tinto Group by 63.9% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 500 shares of the mining company's stock worth $29,000 after purchasing an additional 195 shares during the last quarter. Mechanics Financial Corp bought a new position in shares of Rio Tinto Group in the 4th quarter worth $29,000. Golden State Wealth Management LLC bought a new position in shares of Rio Tinto Group in the 4th quarter worth $47,000. Finally, HHM Wealth Advisors LLC bought a new position in shares of Rio Tinto Group in the 4th quarter worth $50,000. 19.33% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts recently commented on the company. JPMorgan Chase & Co. assumed coverage on Rio Tinto Group in a research note on Tuesday, March 18th. They set an "overweight" rating on the stock. Clarkson Capital raised Rio Tinto Group to a "strong-buy" rating in a research note on Friday, February 28th. Morgan Stanley downgraded Rio Tinto Group from an "overweight" rating to an "equal weight" rating in a research note on Wednesday, April 9th. Barclays reaffirmed an "overweight" rating on shares of Rio Tinto Group in a research note on Wednesday, April 16th. Finally, DZ Bank raised Rio Tinto Group from a "hold" rating to a "strong-buy" rating in a research note on Thursday, March 27th. Four equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $73.00.

Rio Tinto Group Price Performance

RIO traded down $0.14 during trading on Friday, hitting $62.61. 2,612,870 shares of the stock traded hands, compared to its average volume of 2,850,069. Rio Tinto Group has a twelve month low of $51.67 and a twelve month high of $74.24. The company has a market cap of $78.51 billion, a price-to-earnings ratio of 9.71, a PEG ratio of 0.42 and a beta of 0.73. 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 has a 50 day moving average price of $59.71 and a 200 day moving average price of $60.98.

Rio Tinto Group Increases Dividend

The business also recently declared a semi-annual dividend, which was paid on Thursday, April 17th. Stockholders of record on Friday, March 7th were issued a dividend of $2.23 per share. The ex-dividend date was 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 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.