Eschler Asset Management LLP Raises Stock Position in Rio Tinto Group (NYSE:RIO)

Eschler Asset Management LLP grew its position in Rio Tinto Group (NYSE:RIO - Free Report) by 156.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 95,475 shares of the mining company's stock after buying an additional 58,200 shares during the quarter. Rio Tinto Group accounts for about 13.2% of Eschler Asset Management LLP's portfolio, making the stock its largest holding. Eschler Asset Management LLP's holdings in Rio Tinto Group were worth $5,615,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Deutsche Bank AG increased its position in Rio Tinto Group by 143,872.8% during the 4th quarter. Deutsche Bank AG now owns 1,264,081 shares of the mining company's stock worth $74,341,000 after purchasing an additional 1,263,203 shares in the last quarter. Dynamo Internacional Gestao DE Recursos LTDA. increased its position in Rio Tinto Group by 119.2% in 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 acquiring an additional 807,610 shares during the period. Paloma Partners Management Co acquired a new position in Rio Tinto Group in the 4th quarter valued at approximately $40,032,000. Palliser Capital UK Ltd increased its position in Rio Tinto Group by 213.8% in the 4th quarter. Palliser Capital UK Ltd now owns 989,417 shares of the mining company's stock valued at $58,188,000 after acquiring an additional 674,117 shares during the period. Finally, Raymond James Financial Inc. acquired a new position in Rio Tinto Group in the 4th quarter valued at approximately $29,606,000. 19.33% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have issued reports on RIO shares. Clarkson Capital upgraded shares of Rio Tinto Group to a "strong-buy" rating in a research report on Friday, February 28th. DZ Bank upgraded shares of Rio Tinto Group from a "hold" rating to a "strong-buy" rating in a research report on Thursday, March 27th. StockNews.com cut shares of Rio Tinto Group from a "strong-buy" rating to a "buy" rating in a research report on Monday, April 28th. JPMorgan Chase & Co. assumed coverage on shares of Rio Tinto Group in a research note on Tuesday, March 18th. They issued an "overweight" rating on the stock. Finally, 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. Four research analysts have rated the stock with a hold rating, six have given a buy rating and three have issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $73.00.

Rio Tinto Group Trading Up 1.3%

Shares of NYSE:RIO traded up $0.79 during trading on Friday, reaching $59.97. The stock had a trading volume of 1,262,093 shares, compared to its average volume of 2,859,504. The stock has a market cap of $75.20 billion, a price-to-earnings ratio of 9.30, a P/E/G ratio of 0.42 and a beta of 0.73. Rio Tinto Group has a 52 week low of $51.67 and a 52 week high of $74.24. The firm's fifty day moving average is $59.77 and its 200 day moving average is $61.10. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.16 and a current ratio of 1.63.

Rio Tinto Group Increases Dividend

The business also recently announced a semi-annual dividend, which was paid on Thursday, April 17th. Investors of record on Friday, March 7th were paid a dividend of $2.23 per share. The ex-dividend date of this dividend was Friday, March 7th. This is a positive change from Rio Tinto Group's previous semi-annual dividend of $1.77. This represents a yield of 7%. Rio Tinto Group's dividend payout ratio 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.