Rio Tinto Group (NYSE:RIO) Sees Unusually-High Trading Volume

Rio Tinto Group (NYSE:RIO - Get Free Report) saw unusually-high trading volume on Wednesday . Approximately 2,446,783 shares were traded during mid-day trading, a decline of 13% from the previous session's volume of 2,816,434 shares.The stock last traded at $64.00 and had previously closed at $65.09.

Wall Street Analysts Forecast Growth

RIO has been the subject of several research reports. The Goldman Sachs Group initiated coverage on Rio Tinto Group in a research note on Friday, January 12th. They set a "buy" rating for the company. Liberum Capital reiterated a "hold" rating on shares of Rio Tinto Group in a research note on Tuesday, March 5th. BNP Paribas raised Rio Tinto Group from a "neutral" rating to an "outperform" rating in a report on Tuesday, December 5th. Finally, StockNews.com raised Rio Tinto Group from a "buy" rating to a "strong-buy" rating in a report on Wednesday, March 27th. Two equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Rio Tinto Group presently has a consensus rating of "Moderate Buy" and an average target price of $72.00.

Rio Tinto Group Price Performance

The stock's 50-day moving average price is $65.75 and its 200-day moving average price is $66.90. 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 firm also recently disclosed a semi-annual dividend, which will be paid on Thursday, April 18th. Stockholders of record on Friday, March 8th will be paid a dividend of $2.58 per share. This represents a dividend yield of 6.6%. This is a boost from Rio Tinto Group's previous semi-annual dividend of $1.77. The ex-dividend date of this dividend is Thursday, March 7th.

Institutional Trading of Rio Tinto Group

Several hedge funds and other institutional investors have recently bought and sold shares of RIO. Garner Asset Management Corp purchased a new stake in shares of Rio Tinto Group during the 4th quarter valued at $25,000. Cowa LLC purchased a new stake in shares of Rio Tinto Group during the 1st quarter valued at $26,000. Householder Group Estate & Retirement Specialist LLC purchased a new stake in shares of Rio Tinto Group during the 3rd quarter valued at $27,000. AdvisorNet Financial Inc grew its stake 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 buying an additional 330 shares during the period. Finally, First Manhattan Co. grew its stake in shares of Rio Tinto Group by 555.4% during the 4th quarter. First Manhattan Co. now owns 426 shares of the mining company's stock valued at $30,000 after buying an additional 361 shares during the period. 19.33% of the stock is owned by hedge funds and other institutional investors.

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.