Rio Tinto Group (NYSE:RIO) Shares Purchased by Moran Wealth Management LLC

Moran Wealth Management LLC boosted its holdings in shares of Rio Tinto Group (NYSE:RIO - Free Report) by 40.0% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 210,579 shares of the mining company's stock after purchasing an additional 60,184 shares during the period. Moran Wealth Management LLC's holdings in Rio Tinto Group were worth $15,680,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of RIO. Wellington Management Group LLP lifted its stake in shares of 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 worth $1,476,052,000 after acquiring an additional 6,748,799 shares during the period. Fisher Asset Management LLC lifted its stake in shares of Rio Tinto Group by 3.1% in the fourth 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 period. Van ECK Associates Corp lifted its stake in shares of Rio Tinto Group by 191.3% in the fourth quarter. Van ECK Associates Corp now owns 715,829 shares of the mining company's stock valued at $53,301,000 after purchasing an additional 470,073 shares during the period. Qube Research & Technologies Ltd lifted its stake in shares of Rio Tinto Group by 160.2% in the third quarter. Qube Research & Technologies Ltd now owns 581,714 shares of the mining company's stock valued at $37,020,000 after purchasing an additional 358,121 shares during the period. Finally, Envestnet Asset Management Inc. lifted its stake in shares of Rio Tinto Group by 33.5% in the third quarter. Envestnet Asset Management Inc. now owns 965,384 shares of the mining company's stock valued at $61,437,000 after purchasing an additional 242,313 shares during the period. 19.33% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

RIO has been the subject of several recent analyst reports. Liberum Capital reiterated a "hold" rating on shares of Rio Tinto Group in a research note on Tuesday, March 5th. StockNews.com cut shares of Rio Tinto Group from a "strong-buy" rating to a "buy" rating in a research report on Monday. Two equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $72.00.

Rio Tinto Group Stock Down 0.2 %

RIO traded down $0.16 during midday trading on Tuesday, reaching $69.68. 2,925,428 shares of the company's stock were exchanged, compared to its average volume of 2,902,553. Rio Tinto Group has a 1-year low of $58.27 and a 1-year 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. The business's 50-day moving average price is $65.66 and its 200 day moving average price is $67.85.

Rio Tinto Group Increases Dividend

The company also recently declared 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 is an increase from Rio Tinto Group's previous semi-annual dividend of $1.77. This represents a dividend yield of 6.6%.

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.