TD Waterhouse Canada Inc. Lowers Holdings in Rio Tinto Group (NYSE:RIO)

TD Waterhouse Canada Inc. reduced its stake in shares of Rio Tinto Group (NYSE:RIO - Free Report) by 50.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 31,385 shares of the mining company's stock after selling 32,446 shares during the quarter. TD Waterhouse Canada Inc.'s holdings in Rio Tinto Group were worth $1,845,000 at the end of the most recent reporting period.

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

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. StockNews.com downgraded shares of Rio Tinto Group from a "strong-buy" rating to a "buy" rating in a report on Monday. JPMorgan Chase & Co. initiated coverage on shares of Rio Tinto Group in a research report on Tuesday, March 18th. They set an "overweight" rating on the stock. Clarkson Capital upgraded shares of Rio Tinto Group to a "strong-buy" rating in a report on Friday, February 28th. Jefferies Financial Group cut their price target on shares of Rio Tinto Group from $83.00 to $73.00 and set a "buy" rating on the stock in a research note on Monday, January 6th. Finally, DZ Bank raised shares of Rio Tinto Group from a "hold" rating to a "strong-buy" rating in a report on Thursday, March 27th. Four investment analysts have rated the stock with a hold rating, six have issued a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat.com, Rio Tinto Group has a consensus rating of "Moderate Buy" and an average price target of $73.00.

Rio Tinto Group Stock Performance

RIO stock traded up $0.25 on Tuesday, hitting $61.12. The company's stock had a trading volume of 863,446 shares, compared to its average volume of 2,852,314. The stock has a market cap of $76.64 billion, a price-to-earnings ratio of 9.47, a price-to-earnings-growth ratio of 0.42 and a beta of 0.66. The firm has a 50 day moving average of $60.20 and a two-hundred day moving average of $61.47. The company has a current ratio of 1.63, a quick ratio of 1.16 and a debt-to-equity ratio of 0.23. Rio Tinto Group has a 1 year low of $51.67 and a 1 year high of $74.24.

Rio Tinto Group Increases Dividend

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