Rossby Financial LCC Purchases Shares of 6,129 Rio Tinto Group (NYSE:RIO)

Rossby Financial LCC bought a new stake in shares of Rio Tinto Group (NYSE:RIO - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 6,129 shares of the mining company's stock, valued at approximately $360,000.

A number of other institutional investors also recently bought and sold shares of RIO. Thurston Springer Miller Herd & Titak Inc. lifted its stake in shares of Rio Tinto Group by 63.9% during 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 last quarter. Rakuten Securities Inc. grew 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 purchasing an additional 211 shares during the last quarter. Mechanics Financial Corp purchased a new position in Rio Tinto Group in the 4th quarter worth about $29,000. Golden State Wealth Management LLC purchased a new stake in Rio Tinto Group in the 4th quarter valued at about $47,000. Finally, HHM Wealth Advisors LLC bought a new position in Rio Tinto Group in the 4th quarter worth about $50,000. 19.33% of the stock is currently owned by institutional investors.

Rio Tinto Group Stock Up 1.7 %

Shares of Rio Tinto Group stock traded up $0.99 during trading on Friday, reaching $58.15. The company's stock had a trading volume of 2,747,506 shares, compared to its average volume of 2,868,596. Rio Tinto Group has a 1-year low of $51.67 and a 1-year high of $74.24. The company has a 50-day simple moving average of $60.55 and a two-hundred day simple moving average of $61.79. 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 company has a market cap of $72.91 billion, a price-to-earnings ratio of 9.02, a P/E/G ratio of 0.42 and a beta of 0.66.

Rio Tinto Group Increases Dividend

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

Analysts Set New Price Targets

RIO has been the topic of several research analyst reports. 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 note on Thursday, March 27th. Morgan Stanley lowered shares of Rio Tinto Group from an "overweight" rating to an "equal weight" rating in a report on Wednesday, April 9th. StockNews.com raised shares of Rio Tinto Group from a "buy" rating to a "strong-buy" rating in a research note on Sunday. Finally, Jefferies Financial Group reduced their price target on Rio Tinto Group from $83.00 to $73.00 and set a "buy" rating for the company in a research report on Monday, January 6th. Four investment analysts have rated the stock with a hold rating, five have assigned a buy rating and four have issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of "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.