Rio Tinto Group (NYSE:RIO) Shares Purchased by Prime Capital Investment Advisors LLC

Prime Capital Investment Advisors LLC lifted its position in shares of Rio Tinto Group (NYSE:RIO - Free Report) by 124.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 32,391 shares of the mining company's stock after purchasing an additional 17,952 shares during the period. Prime Capital Investment Advisors LLC's holdings in Rio Tinto Group were worth $2,412,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Cowa LLC acquired a new stake in shares of Rio Tinto Group in the 1st quarter valued at $26,000. Householder Group Estate & Retirement Specialist LLC bought a new position in shares of Rio Tinto Group in the 3rd quarter worth about $27,000. AdvisorNet Financial Inc increased its position in Rio Tinto Group by 785.7% in the 4th quarter. AdvisorNet Financial Inc now owns 372 shares of the mining company's stock valued at $28,000 after buying an additional 330 shares in the last quarter. First Manhattan Co. increased its position in Rio Tinto Group by 555.4% in the 4th quarter. First Manhattan Co. now owns 426 shares of the mining company's stock valued at $30,000 after buying an additional 361 shares in the last quarter. Finally, SouthState Corp bought a new stake in Rio Tinto Group in the 3rd quarter valued at about $32,000. Institutional investors and hedge funds own 19.33% of the company's stock.

Rio Tinto Group Stock Up 4.9 %

NYSE:RIO traded up $3.08 during midday trading on Monday, hitting $66.08. The company had a trading volume of 4,686,560 shares, compared to its average volume of 2,913,307. The stock's fifty day moving average price is $65.26 and its 200-day moving average price is $66.88. The company has a quick ratio of 1.17, a current ratio of 1.69 and a debt-to-equity ratio of 0.23. Rio Tinto Group has a 52-week low of $58.27 and a 52-week high of $75.09.

Rio Tinto Group Increases Dividend

The firm also recently declared a semi-annual dividend, which will be paid on Thursday, April 18th. Shareholders of record on Friday, March 8th will be given a dividend of $2.58 per share. This represents a yield of 6.6%. This is a positive change from Rio Tinto Group's previous semi-annual dividend of $1.77. The ex-dividend date is Thursday, March 7th.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on RIO shares. The Goldman Sachs Group started coverage on Rio Tinto Group in a research note on Friday, January 12th. They issued a "buy" rating on the stock. Liberum Capital reissued a "hold" rating on shares of Rio Tinto Group in a report on Tuesday, March 5th. Finally, StockNews.com raised shares of Rio Tinto Group from a "buy" rating to a "strong-buy" rating in a report on Wednesday, March 27th. Two research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Rio Tinto Group currently has a consensus rating of "Moderate Buy" and a consensus price target of $72.00.

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.