7,087 Shares in Rio Tinto Group (NYSE:RIO) Bought by Balyasny Asset Management L.P.

Balyasny Asset Management L.P. purchased a new position in shares of Rio Tinto Group (NYSE:RIO - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 7,087 shares of the mining company's stock, valued at approximately $417,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Dorsey & Whitney Trust CO LLC boosted its stake in shares of Rio Tinto Group by 2.0% during the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 8,113 shares of the mining company's stock valued at $477,000 after acquiring an additional 160 shares during the last quarter. Capital Analysts LLC boosted its stake in shares of Rio Tinto Group by 6.0% during the 4th quarter. Capital Analysts LLC now owns 2,886 shares of the mining company's stock worth $170,000 after purchasing an additional 163 shares during the last quarter. Nemes Rush Group LLC grew its holdings in shares of Rio Tinto Group by 10.0% during the fourth quarter. Nemes Rush Group LLC now owns 1,855 shares of the mining company's stock worth $109,000 after buying an additional 169 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. raised its position in shares of Rio Tinto Group by 63.9% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 500 shares of the mining company's stock valued at $29,000 after buying an additional 195 shares during the last quarter. Finally, Cohen Investment Advisors LLC lifted its stake in shares of Rio Tinto Group by 3.8% during the fourth quarter. Cohen Investment Advisors LLC now owns 5,352 shares of the mining company's stock valued at $315,000 after buying an additional 198 shares during the period. 19.33% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have weighed in on RIO. JPMorgan Chase & Co. assumed coverage on Rio Tinto Group in a report on Tuesday, March 18th. They issued an "overweight" rating for the company. Clarkson Capital raised Rio Tinto Group to a "strong-buy" rating in a research note on Friday, February 28th. Morgan Stanley cut Rio Tinto Group from an "overweight" rating to an "equal weight" rating in a report on Wednesday, April 9th. StockNews.com lowered shares of Rio Tinto Group from a "strong-buy" rating to a "buy" rating in a report on Monday, April 28th. Finally, DZ Bank raised shares of Rio Tinto Group from a "hold" rating to a "strong-buy" rating in a research report on Thursday, March 27th. Four investment analysts have rated the stock with a hold rating, six have issued a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat.com, Rio Tinto Group currently has a consensus rating of "Moderate Buy" and a consensus target price of $73.00.

Rio Tinto Group Trading Down 0.2%

NYSE RIO traded down $0.13 during mid-day trading on Tuesday, hitting $62.26. The company's stock had a trading volume of 2,127,932 shares, compared to its average volume of 2,845,436. The firm has a market capitalization of $78.07 billion, a P/E ratio of 9.65, a price-to-earnings-growth 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. Rio Tinto Group has a 52-week low of $51.67 and a 52-week high of $74.24. The stock's fifty day simple moving average is $59.74 and its two-hundred day simple moving average is $60.96.

Rio Tinto Group Increases Dividend

The firm also recently announced a semi-annual dividend, which was paid on Thursday, April 17th. Stockholders of record on Friday, March 7th were paid a $2.23 dividend. This represents a dividend yield of 7%. 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. Rio Tinto Group's dividend payout ratio (DPR) is currently 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.