106,821 Shares in Rio Tinto Group (NYSE:RIO) Purchased by International Assets Investment Management LLC

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

Several other hedge funds have also modified their holdings of the business. AdvisorNet Financial Inc increased its holdings in Rio Tinto Group by 785.7% in the fourth 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. SouthState Corp purchased a new position in shares of Rio Tinto Group in the third quarter valued at $32,000. Financial Management Professionals Inc. raised its stake in shares of Rio Tinto Group by 250.6% during the 4th quarter. Financial Management Professionals Inc. now owns 617 shares of the mining company's stock worth $46,000 after buying an additional 441 shares during the last quarter. Bruce G. Allen Investments LLC purchased a new stake in shares of Rio Tinto Group in the 4th quarter worth about $47,000. Finally, NBC Securities Inc. acquired a new stake in Rio Tinto Group in the 3rd quarter valued at about $59,000. 19.33% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

RIO has been the subject of a number of research reports. Liberum Capital restated a "hold" rating on shares of Rio Tinto Group in a research report on Tuesday, March 5th. StockNews.com raised Rio Tinto Group from a "buy" rating to a "strong-buy" rating in a research note on Monday, April 29th. Finally, The Goldman Sachs Group started coverage on Rio Tinto Group in a research report on Friday, January 12th. They set a "buy" rating for the company. Two research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Rio Tinto Group currently has a consensus rating of "Moderate Buy" and an average price target of $72.00.

Rio Tinto Group Trading Up 0.3 %

Shares of RIO traded up $0.20 on Tuesday, hitting $70.02. 2,080,321 shares of the stock traded hands, compared to its average volume of 2,944,094. 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 has a 1 year low of $58.27 and a 1 year high of $75.09. The stock's 50 day moving average is $65.26 and its two-hundred day moving average is $67.64.

Rio Tinto Group Increases Dividend

The firm 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. This is a boost from Rio Tinto Group's previous semi-annual dividend of $1.77. The ex-dividend date of this dividend was Thursday, March 7th. This represents a dividend yield of 6.6%.

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.