Rio Tinto Group (NYSE:RIO) Shares Sold by DekaBank Deutsche Girozentrale

DekaBank Deutsche Girozentrale reduced its position in shares of Rio Tinto Group (NYSE:RIO) by 4.2% during the fourth quarter, HoldingsChannel reports. The firm owned 45,438 shares of the mining company’s stock after selling 2,000 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in Rio Tinto Group were worth $3,343,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in RIO. Cowa LLC acquired a new position in Rio Tinto Group in the 1st quarter worth $26,000. Householder Group Estate & Retirement Specialist LLC acquired a new position in shares of Rio Tinto Group in the third quarter worth about $27,000. AdvisorNet Financial Inc boosted its holdings in Rio Tinto Group by 785.7% in the fourth quarter. AdvisorNet Financial Inc now owns 372 shares of the mining company’s stock valued at $28,000 after purchasing an additional 330 shares during the last quarter. First Manhattan Co. grew its stake in Rio Tinto Group by 555.4% during the 4th quarter. First Manhattan Co. now owns 426 shares of the mining company’s stock valued at $30,000 after purchasing an additional 361 shares in the last quarter. Finally, SouthState Corp purchased a new stake in Rio Tinto Group during the 3rd quarter worth approximately $32,000. 19.33% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently commented on RIO. StockNews.com downgraded shares of Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a research report on Wednesday. Liberum Capital restated a “hold” rating on shares of Rio Tinto Group in a research note on Tuesday, March 5th. Finally, The Goldman Sachs Group started coverage on Rio Tinto Group in a research note on Friday, January 12th. They issued a “buy” rating for the company. Two analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $72.00.

Rio Tinto Group Price Performance

NYSE RIO opened at $66.00 on Friday. The company has a quick ratio of 1.17, a current ratio of 1.69 and a debt-to-equity ratio of 0.23. Rio Tinto Group has a one year low of $58.27 and a one year high of $75.09. The company has a 50-day simple moving average of $65.02 and a 200-day simple moving average of $66.92.

Rio Tinto Group Increases Dividend

The business also recently announced a semi-annual dividend, which will be paid on Thursday, April 18th. Stockholders of record on Friday, March 8th will be issued a dividend of $2.58 per share. The ex-dividend date of this dividend is Thursday, March 7th. This is a positive change from Rio Tinto Group’s previous semi-annual dividend of $1.77. This represents a dividend yield of 6.6%.

About Rio Tinto Group

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.