Rio Tinto Group (NYSE:RIO) Shares Sold by National Bank of Canada FI

National Bank of Canada FI decreased its stake in shares of Rio Tinto Group (NYSE:RIO - Free Report) by 17.9% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 258,130 shares of the mining company's stock after selling 56,115 shares during the quarter. National Bank of Canada FI's holdings in Rio Tinto Group were worth $19,152,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of the stock. Wellington Management Group LLP raised its stake in Rio Tinto Group by 41.0% during the 3rd quarter. Wellington Management Group LLP now owns 23,193,773 shares of the mining company's stock worth $1,476,052,000 after buying an additional 6,748,799 shares during the period. Fisher Asset Management LLC boosted its stake in Rio Tinto Group by 3.1% during the 4th quarter. Fisher Asset Management LLC now owns 16,045,541 shares of the mining company's stock valued at $1,194,751,000 after purchasing an additional 475,329 shares during the last quarter. Van ECK Associates Corp increased its holdings in Rio Tinto Group by 191.3% during the 4th quarter. Van ECK Associates Corp now owns 715,829 shares of the mining company's stock worth $53,301,000 after purchasing an additional 470,073 shares in the last quarter. Qube Research & Technologies Ltd boosted its position in shares of Rio Tinto Group by 160.2% during the third quarter. Qube Research & Technologies Ltd now owns 581,714 shares of the mining company's stock valued at $37,020,000 after buying an additional 358,121 shares during the last quarter. Finally, Envestnet Asset Management Inc. grew its holdings in Rio Tinto Group by 33.5% during the third quarter. Envestnet Asset Management Inc. now owns 965,384 shares of the mining company's stock worth $61,437,000 after buying an additional 242,313 shares in the last quarter. Institutional investors own 19.33% of the company's stock.

Rio Tinto Group Trading Down 1.5 %

NYSE RIO traded down $1.02 during trading on Wednesday, hitting $69.02. 1,787,171 shares of the company's stock traded hands, compared to its average volume of 2,931,491. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.69 and a quick ratio of 1.17. The business has a 50 day moving average of $65.26 and a 200-day moving average of $67.64. Rio Tinto Group has a 12-month low of $58.27 and a 12-month high of $75.09.

Rio Tinto Group Increases Dividend

The business also recently announced a semi-annual dividend, which was paid on Thursday, April 18th. Shareholders of record on Friday, March 8th were given 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 an increase from Rio Tinto Group's previous semi-annual dividend of $1.77.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. StockNews.com upgraded shares of Rio Tinto Group from a "buy" rating to a "strong-buy" rating in a report on Monday, April 29th. The Goldman Sachs Group initiated coverage on shares of Rio Tinto Group in a research report on Friday, January 12th. They set a "buy" rating on the stock. Finally, Liberum Capital reiterated a "hold" rating on shares of Rio Tinto Group in a report on Tuesday, March 5th. Two investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $72.00.

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.