Riverview Capital Advisers LLC Sells 26,735 Shares of Rio Tinto Group (NYSE:RIO)

Riverview Capital Advisers LLC cut its position in Rio Tinto Group (NYSE:RIO - Free Report) by 39.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 41,176 shares of the mining company's stock after selling 26,735 shares during the quarter. Riverview Capital Advisers LLC's holdings in Rio Tinto Group were worth $2,422,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Rakuten Securities Inc. boosted its holdings in shares of Rio Tinto Group by 74.8% in the fourth quarter. Rakuten Securities Inc. now owns 493 shares of the mining company's stock worth $29,000 after buying an additional 211 shares during the period. Thurston Springer Miller Herd & Titak Inc. raised its holdings in Rio Tinto Group by 63.9% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 500 shares of the mining company's stock worth $29,000 after acquiring an additional 195 shares during the period. Mechanics Financial Corp bought a new position in Rio Tinto Group in the 4th quarter worth $29,000. Golden State Wealth Management LLC bought a new position in shares of Rio Tinto Group during the 4th quarter worth about $47,000. Finally, HHM Wealth Advisors LLC bought a new position in shares of Rio Tinto Group during the 4th quarter worth about $50,000. 19.33% of the stock is owned by institutional investors and hedge funds.

Rio Tinto Group Stock Performance

RIO traded down $0.14 during trading on Friday, hitting $62.61. 2,612,870 shares of the company traded hands, compared to its average volume of 2,850,069. The firm has a market cap of $78.51 billion, a P/E ratio of 9.71, a price-to-earnings-growth ratio of 0.42 and a beta of 0.73. Rio Tinto Group has a one year low of $51.67 and a one year high of $74.24. The company has a quick ratio of 1.16, a current ratio of 1.63 and a debt-to-equity ratio of 0.23. The stock's fifty day moving average is $59.71 and its 200 day moving average is $61.01.

Rio Tinto Group Increases Dividend

The company also recently declared 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 represents a dividend yield of 7%. This is an increase from Rio Tinto Group's previous semi-annual dividend of $1.77. The ex-dividend date was Friday, March 7th. Rio Tinto Group's dividend payout ratio is presently 69.15%.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. JPMorgan Chase & Co. started coverage on shares of Rio Tinto Group in a research report on Tuesday, March 18th. They set 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 note on Thursday, March 27th. Morgan Stanley downgraded shares of Rio Tinto Group from an "overweight" rating to an "equal weight" rating in a research note on Wednesday, April 9th. Barclays reissued an "overweight" rating on shares of Rio Tinto Group in a research report on Wednesday, April 16th. Finally, StockNews.com cut shares of Rio Tinto Group from a "strong-buy" rating to a "buy" rating in a report on Monday, April 28th. Four research analysts have rated the stock with a hold rating, six have given a buy rating and three have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Rio Tinto Group presently has an average rating of "Moderate Buy" and an average target price of $73.00.

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.