44,733 Shares in Rio Tinto Group (NYSE:RIO) Purchased by RWA Wealth Partners LLC

RWA Wealth Partners LLC acquired a new stake in shares of Rio Tinto Group (NYSE:RIO - Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 44,733 shares of the mining company's stock, valued at approximately $3,331,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. AdvisorNet Financial Inc lifted its holdings in shares of Rio Tinto Group by 785.7% during the 4th quarter. AdvisorNet Financial Inc now owns 372 shares of the mining company's stock valued at $28,000 after purchasing an additional 330 shares during the last quarter. SouthState Corp purchased a new position in Rio Tinto Group in the 3rd quarter worth $32,000. Financial Management Professionals Inc. raised its stake in Rio Tinto Group by 250.6% in the 4th quarter. Financial Management Professionals Inc. now owns 617 shares of the mining company's stock worth $46,000 after acquiring an additional 441 shares during the last quarter. Bruce G. Allen Investments LLC purchased a new position in Rio Tinto Group in the 4th quarter worth $47,000. Finally, NBC Securities Inc. purchased a new position in Rio Tinto Group in the 3rd quarter worth $59,000. Hedge funds and other institutional investors own 19.33% of the company's stock.

Rio Tinto Group Trading Down 0.8 %

Shares of NYSE RIO traded down $0.57 during trading on Tuesday, reaching $66.63. 2,521,752 shares of the company traded hands, compared to its average volume of 2,977,841. The firm's fifty day simple moving average is $64.86 and its 200 day simple moving average is $67.21. Rio Tinto Group has a 12-month low of $58.27 and a 12-month high of $75.09. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.17 and a current ratio of 1.69.

Rio Tinto Group Increases Dividend

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

Analyst Ratings Changes

A number of equities analysts recently issued reports on RIO shares. StockNews.com upgraded Rio Tinto Group from a "buy" rating to a "strong-buy" rating in a research note on Thursday, April 18th. Liberum Capital restated a "hold" rating on shares of Rio Tinto Group in a research note on Tuesday, March 5th. Finally, The Goldman Sachs Group started coverage on Rio Tinto Group in a research note on Friday, January 12th. They issued a "buy" rating for the company. Two equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $72.00.

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.