Rio Tinto Group (NYSE:RIO) Shares Bought by abrdn plc

abrdn plc grew its stake in shares of Rio Tinto Group (NYSE:RIO - Free Report) by 8.8% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 215,100 shares of the mining company's stock after buying an additional 17,400 shares during the quarter. abrdn plc's holdings in Rio Tinto Group were worth $16,016,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of RIO. Arkadios Wealth Advisors bought a new stake in shares of Rio Tinto Group during the third quarter worth $219,000. SG Americas Securities LLC grew its stake in shares of Rio Tinto Group by 44.9% in the third quarter. SG Americas Securities LLC now owns 16,243 shares of the mining company's stock worth $1,034,000 after purchasing an additional 5,034 shares during the last quarter. SOL Capital Management CO grew its stake in shares of Rio Tinto Group by 6.3% in the third quarter. SOL Capital Management CO now owns 4,205 shares of the mining company's stock worth $268,000 after purchasing an additional 250 shares during the last quarter. Simplicity Solutions LLC grew its stake in shares of Rio Tinto Group by 6.2% in the third quarter. Simplicity Solutions LLC now owns 5,017 shares of the mining company's stock worth $319,000 after purchasing an additional 294 shares during the last quarter. Finally, U.S. Capital Wealth Advisors LLC grew its stake in shares of Rio Tinto Group by 6.6% in the third quarter. U.S. Capital Wealth Advisors LLC now owns 47,357 shares of the mining company's stock worth $3,014,000 after purchasing an additional 2,951 shares during the last quarter. Institutional investors own 19.33% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. Liberum Capital reissued a "hold" rating on shares of Rio Tinto Group in a research note on Tuesday, March 5th. StockNews.com raised shares of Rio Tinto Group from a "buy" rating to a "strong-buy" rating in a research note on Thursday, April 18th. Finally, The Goldman Sachs Group began coverage on shares of Rio Tinto Group in a research report on Friday, January 12th. They set a "buy" rating on the stock. Two investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Rio Tinto Group has an average rating of "Moderate Buy" and an average price target of $72.00.

Rio Tinto Group Stock Performance

Shares of NYSE RIO traded down $0.36 during trading on Thursday, hitting $67.78. 2,826,957 shares of the company traded hands, compared to its average volume of 2,981,337. The business's fifty day moving average is $64.88 and its 200 day moving average is $67.22. Rio Tinto Group has a fifty-two week low of $58.27 and a fifty-two week high of $75.09. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.69 and a quick ratio of 1.17.

Rio Tinto Group Increases Dividend

The business also recently disclosed a semi-annual dividend, which was paid on Thursday, April 18th. Stockholders of record on Friday, March 8th were issued a dividend of $2.58 per share. The ex-dividend date of this dividend 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.

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.