Sharpepoint LLC Takes $1.15 Million Position in Rio Tinto Group (NYSE:RIO)

Sharpepoint LLC acquired a new stake in Rio Tinto Group (NYSE:RIO - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 19,500 shares of the mining company's stock, valued at approximately $1,147,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Barclays PLC raised its holdings in 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 period. McIlrath & Eck LLC increased its stake in shares of Rio Tinto Group by 20.6% during the third quarter. McIlrath & Eck LLC now owns 1,382 shares of the mining company's stock worth $98,000 after purchasing an additional 236 shares during the period. Advisory Resource Group lifted its holdings in Rio Tinto Group by 11.1% during the 3rd quarter. Advisory Resource Group now owns 16,812 shares of the mining company's stock worth $1,197,000 after purchasing an additional 1,678 shares during the last quarter. Stock Yards Bank & Trust Co. lifted its holdings in Rio Tinto Group by 11.3% during the 3rd quarter. Stock Yards Bank & Trust Co. now owns 5,212 shares of the mining company's stock worth $371,000 after purchasing an additional 529 shares during the last quarter. Finally, World Investment Advisors LLC boosted its stake in Rio Tinto Group by 5.9% in the 3rd quarter. World Investment Advisors LLC now owns 4,802 shares of the mining company's stock valued at $342,000 after purchasing an additional 266 shares during the period. 19.33% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have recently weighed in on RIO. JPMorgan Chase & Co. assumed coverage on Rio Tinto Group in a report on Tuesday, March 18th. They set an "overweight" rating for the company. Barclays reissued an "overweight" rating on shares of Rio Tinto Group in a report on Wednesday, April 16th. Clarkson Capital raised shares of Rio Tinto Group to a "strong-buy" rating in a report on Friday, February 28th. StockNews.com upgraded shares of Rio Tinto Group from a "buy" rating to a "strong-buy" rating in a research report on Sunday, April 20th. Finally, DZ Bank raised Rio Tinto Group from a "hold" rating to a "strong-buy" rating in a research report on Thursday, March 27th. Four analysts have rated the stock with a hold rating, five have issued a buy rating and four have issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Buy" and an average price target of $73.00.

Rio Tinto Group Price Performance

Rio Tinto Group stock traded down $1.07 during midday trading on Friday, reaching $60.63. The company's stock had a trading volume of 1,522,175 shares, compared to its average volume of 2,861,016. 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 cap of $76.02 billion, a PE ratio of 9.40, a price-to-earnings-growth ratio of 0.42 and a beta of 0.66. Rio Tinto Group has a 52 week low of $51.67 and a 52 week high of $74.24. The business has a 50-day moving average price of $60.31 and a 200-day moving average price of $61.63.

Rio Tinto Group Increases Dividend

The business also recently disclosed 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. This represents a yield of 7%. This is a boost 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 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.