International Assets Investment Management LLC Purchases Shares of 106,821 Rio Tinto Group (NYSE:RIO)

International Assets Investment Management LLC acquired a new position in shares of Rio Tinto Group (NYSE:RIO - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 106,821 shares of the mining company's stock, valued at approximately $7,954,000.

Several other institutional investors also recently modified their holdings of RIO. Wellington Management Group LLP boosted its stake in Rio Tinto Group by 41.0% in the 3rd quarter. Wellington Management Group LLP now owns 23,193,773 shares of the mining company's stock valued at $1,476,052,000 after buying an additional 6,748,799 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in Rio Tinto Group by 58.9% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 12,899,694 shares of the mining company's stock valued at $1,037,135,000 after buying an additional 4,783,488 shares in the last quarter. Capital World Investors boosted its stake in Rio Tinto Group by 4.2% in the 1st quarter. Capital World Investors now owns 8,484,992 shares of the mining company's stock valued at $682,195,000 after buying an additional 344,145 shares in the last quarter. Morgan Stanley raised its position in Rio Tinto Group by 2.7% in the 3rd quarter. Morgan Stanley now owns 4,464,344 shares of the mining company's stock valued at $284,111,000 after purchasing an additional 118,706 shares during the last quarter. Finally, Cowa LLC bought a new position in Rio Tinto Group in the 1st quarter valued at $26,000. Institutional investors and hedge funds own 19.33% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. StockNews.com downgraded Rio Tinto Group from a "strong-buy" rating to a "buy" rating in a research report on Wednesday. The Goldman Sachs Group started coverage on Rio Tinto Group in a research report on Friday, January 12th. They issued a "buy" rating for the company. Finally, Liberum Capital restated a "hold" rating on shares of Rio Tinto Group in a research report on Tuesday, March 5th. Two equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $72.00.

Rio Tinto Group Stock Down 0.4 %

NYSE RIO traded down $0.28 on Friday, reaching $65.99. The company had a trading volume of 4,339,891 shares, compared to its average volume of 2,929,772. The stock's 50 day moving average is $65.02 and its 200-day moving average is $66.99. The company has a current ratio of 1.69, a quick ratio of 1.17 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 business also recently disclosed a semi-annual dividend, which will be paid on Thursday, April 18th. Investors of record on Friday, March 8th will be issued a $2.58 dividend. This represents a yield of 6.6%. The ex-dividend date of this dividend is Thursday, March 7th. This is an increase from Rio Tinto Group's previous semi-annual dividend of $1.77.

About Rio Tinto Group

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.