NewEdge Advisors LLC Sells 7,686 Shares of Rio Tinto Group (NYSE:RIO)

NewEdge Advisors LLC decreased its position in Rio Tinto Group (NYSE:RIO - Free Report) by 14.7% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 44,478 shares of the mining company's stock after selling 7,686 shares during the period. NewEdge Advisors LLC's holdings in Rio Tinto Group were worth $2,616,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of the company. Palliser Capital UK Ltd grew its stake in shares of Rio Tinto Group by 213.8% in the fourth quarter. Palliser Capital UK Ltd now owns 989,417 shares of the mining company's stock valued at $58,188,000 after buying an additional 674,117 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of Rio Tinto Group in the 4th quarter valued at about $29,606,000. SPX Gestao de Recursos Ltda increased its stake in shares of Rio Tinto Group by 1,773.2% during the 3rd quarter. SPX Gestao de Recursos Ltda now owns 426,922 shares of the mining company's stock worth $30,384,000 after purchasing an additional 404,131 shares during the last quarter. ABC Arbitrage SA bought a new stake in shares of Rio Tinto Group in the 4th quarter valued at about $20,026,000. Finally, FMR LLC lifted its stake in Rio Tinto Group by 24.6% in the 4th quarter. FMR LLC now owns 1,721,690 shares of the mining company's stock valued at $101,253,000 after purchasing an additional 339,924 shares during the last quarter. Institutional investors and hedge funds own 19.33% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Clarkson Capital upgraded Rio Tinto Group to a "strong-buy" rating in a research note on Friday, February 28th. JPMorgan Chase & Co. assumed coverage on Rio Tinto Group in a research note on Tuesday, March 18th. They issued an "overweight" rating on the stock. DZ Bank raised shares of Rio Tinto Group from a "hold" rating to a "strong-buy" rating in a research report on Thursday, March 27th. Jefferies Financial Group dropped their price objective on shares of Rio Tinto Group from $83.00 to $73.00 and set a "buy" rating on the stock in a research report on Monday, January 6th. Finally, StockNews.com raised shares of Rio Tinto Group from a "buy" rating to a "strong-buy" rating in a report on Sunday, April 20th. Four research analysts have rated the stock with a hold rating, five have issued a buy rating and four have given a strong buy rating to the company. Based on data from MarketBeat.com, Rio Tinto Group currently has an average rating of "Buy" and an average target price of $73.00.

Rio Tinto Group Stock Performance

Rio Tinto Group stock traded down $1.11 during midday trading on Friday, hitting $60.58. The company's stock had a trading volume of 2,694,997 shares, compared to its average volume of 2,864,427. The company has a 50-day moving average price of $60.24 and a two-hundred day moving average price of $61.52. Rio Tinto Group has a 1-year low of $51.67 and a 1-year high of $74.24. The company has a market cap of $75.97 billion, a price-to-earnings ratio of 9.39, a PEG ratio of 0.42 and a beta of 0.66. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.63 and a quick ratio of 1.16.

Rio Tinto Group Increases Dividend

The business also recently declared a semi-annual dividend, which was paid on Thursday, April 17th. Investors of record on Friday, March 7th were given a dividend of $2.23 per share. The ex-dividend date of this dividend was Friday, March 7th. This represents a yield of 7%. This is an increase from Rio Tinto Group's previous semi-annual dividend of $1.77. Rio Tinto Group's dividend payout ratio is currently 69.15%.

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.