Boothbay Fund Management LLC Has $5.62 Million Position in Rio Tinto Group (NYSE:RIO)

Boothbay Fund Management LLC boosted its position in shares of Rio Tinto Group (NYSE:RIO - Free Report) by 156.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 95,475 shares of the mining company's stock after purchasing an additional 58,200 shares during the quarter. Boothbay Fund Management LLC's holdings in Rio Tinto Group were worth $5,615,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. XTX Topco Ltd bought a new position in Rio Tinto Group in the fourth quarter valued at approximately $1,241,000. Rossby Financial LCC bought a new position in Rio Tinto Group during the fourth quarter worth about $360,000. Jeppson Wealth Management LLC grew its position in shares of Rio Tinto Group by 47.5% during the 4th quarter. Jeppson Wealth Management LLC now owns 20,093 shares of the mining company's stock worth $1,182,000 after buying an additional 6,473 shares during the period. Barclays PLC increased its stake in shares of Rio Tinto Group by 225.6% in the 3rd quarter. Barclays PLC now owns 335,637 shares of the mining company's stock valued at $23,888,000 after acquiring an additional 232,539 shares during the last quarter. Finally, Marshall Financial Group LLC acquired a new stake in shares of Rio Tinto Group in the 4th quarter valued at approximately $810,000. 19.33% of the stock is currently owned by institutional investors and hedge funds.

Rio Tinto Group Stock Up 2.2 %

Shares of NYSE RIO traded up $1.26 during midday trading on Friday, reaching $59.81. The company's stock had a trading volume of 1,293,499 shares, compared to its average volume of 2,852,803. The stock has a 50 day simple moving average of $59.97 and a 200-day simple moving average of $61.39. The company has a current ratio of 1.63, a quick ratio of 1.16 and a debt-to-equity ratio of 0.23. The stock has a market capitalization of $75.00 billion, a price-to-earnings ratio of 9.28, a PEG ratio of 0.42 and a beta of 0.66. Rio Tinto Group has a fifty-two week low of $51.67 and a fifty-two week high of $74.24.

Rio Tinto Group Increases Dividend

The business also recently disclosed a semi-annual dividend, which was paid on Thursday, April 17th. Stockholders of record on Friday, March 7th were issued a $2.23 dividend. This is a boost from Rio Tinto Group's previous semi-annual dividend of $1.77. The ex-dividend date of this dividend was Friday, March 7th. This represents a dividend yield of 7%. Rio Tinto Group's dividend payout ratio (DPR) is presently 69.15%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on RIO. Jefferies Financial Group lowered their target price on shares of Rio Tinto Group from $83.00 to $73.00 and set a "buy" rating for the company in a research note on Monday, January 6th. StockNews.com downgraded Rio Tinto Group from a "strong-buy" rating to a "buy" rating in a research note on Monday. DZ Bank raised Rio Tinto Group from a "hold" rating to a "strong-buy" rating in a research note on Thursday, March 27th. JPMorgan Chase & Co. assumed coverage on Rio Tinto Group in a report on Tuesday, March 18th. They set an "overweight" rating on the stock. Finally, Clarkson Capital upgraded shares of Rio Tinto Group to a "strong-buy" rating in a report on Friday, February 28th. Four research analysts have rated the stock with a hold rating, six have issued a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat, Rio Tinto Group currently has a consensus rating of "Moderate Buy" and a consensus price target of $73.00.

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.