106,821 Shares in Rio Tinto Group (NYSE:RIO) Acquired by International Assets Investment Management LLC

International Assets Investment Management LLC acquired a new position in Rio Tinto Group (NYSE:RIO) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 106,821 shares of the mining company’s stock, valued at approximately $7,954,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. AdvisorNet Financial Inc lifted its stake in shares of Rio Tinto Group by 785.7% in the fourth quarter. AdvisorNet Financial Inc now owns 372 shares of the mining company’s stock worth $28,000 after acquiring an additional 330 shares during the period. Householder Group Estate & Retirement Specialist LLC acquired a new position in shares of Rio Tinto Group in the third quarter worth approximately $27,000. First Manhattan Co. lifted its stake in shares of Rio Tinto Group by 555.4% in the fourth quarter. First Manhattan Co. now owns 426 shares of the mining company’s stock worth $30,000 after acquiring an additional 361 shares during the period. SouthState Corp acquired a new position in shares of Rio Tinto Group in the third quarter worth approximately $32,000. Finally, Financial Management Professionals Inc. lifted its stake in shares of Rio Tinto Group by 250.6% in the fourth quarter. Financial Management Professionals Inc. now owns 617 shares of the mining company’s stock worth $46,000 after acquiring an additional 441 shares during the period. 19.33% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Rio Tinto Group Price Performance

Shares of RIO opened at $65.99 on Friday. Rio Tinto Group has a 52-week low of $58.27 and a 52-week high of $75.09. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.69 and a quick ratio of 1.17. The business’s 50 day moving average price is $65.02 and its two-hundred day moving average price is $66.95.

Rio Tinto Group Increases Dividend

The company also recently disclosed 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. This is an increase from Rio Tinto Group’s previous semi-annual dividend of $1.77. The ex-dividend date of this dividend is Thursday, March 7th. This represents a dividend yield of 6.6%.

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.