Crestline Management LP Buys 297,068 Shares of Rio Tinto Group (NYSE:RIO)

Crestline Management LP lifted its holdings in shares of Rio Tinto Group (NYSE:RIO - Free Report) by 3,283.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 306,116 shares of the mining company's stock after purchasing an additional 297,068 shares during the quarter. Rio Tinto Group accounts for about 0.6% of Crestline Management LP's portfolio, making the stock its 24th biggest position. Crestline Management LP's holdings in Rio Tinto Group were worth $18,003,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of 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 acquired a new stake in shares of Rio Tinto Group during the fourth quarter worth $360,000. Jeppson Wealth Management LLC lifted its position in Rio Tinto Group by 47.5% in the 4th quarter. Jeppson Wealth Management LLC now owns 20,093 shares of the mining company's stock valued at $1,182,000 after acquiring an additional 6,473 shares in the last quarter. Barclays PLC boosted its stake in Rio Tinto Group by 225.6% in the 3rd quarter. Barclays PLC now owns 335,637 shares of the mining company's stock worth $23,888,000 after purchasing an additional 232,539 shares during the period. Finally, Marshall Financial Group LLC bought a new position in Rio Tinto Group during the 4th quarter worth about $810,000. Institutional investors own 19.33% of the company's stock.

Analysts Set New Price Targets

RIO has been the topic of a number of research reports. JPMorgan Chase & Co. began coverage on Rio Tinto Group in a report on Tuesday, March 18th. They issued an "overweight" rating on the stock. Clarkson Capital raised Rio Tinto Group to a "strong-buy" rating in a research report on Friday, February 28th. DZ Bank raised shares of Rio Tinto Group from a "hold" rating to a "strong-buy" rating in a research note on Thursday, March 27th. StockNews.com lowered shares of Rio Tinto Group from a "strong-buy" rating to a "buy" rating in a research report on Monday, April 28th. Finally, Morgan Stanley downgraded shares of Rio Tinto Group from an "overweight" rating to an "equal weight" rating in a research report on Wednesday, April 9th. Four analysts have rated the stock with a hold rating, six have assigned a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $73.00.

Rio Tinto Group Stock Performance

RIO stock traded up $0.79 during trading hours on Friday, reaching $59.97. The stock had a trading volume of 1,262,093 shares, compared to its average volume of 2,856,626. The stock has a market capitalization of $75.20 billion, a PE ratio of 9.30, a price-to-earnings-growth ratio of 0.42 and a beta of 0.73. The stock has a 50-day simple moving average of $59.77 and a 200 day simple moving average of $61.15. Rio Tinto Group has a fifty-two week low of $51.67 and a fifty-two week high of $74.24. 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 firm also recently declared a semi-annual dividend, which was paid on Thursday, April 17th. Investors of record on Friday, March 7th were issued a dividend of $2.23 per share. The ex-dividend date was Friday, March 7th. This represents a yield of 7%. This is a boost from Rio Tinto Group's previous semi-annual dividend of $1.77. Rio Tinto Group's dividend payout ratio (DPR) is presently 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.