J.W. Cole Advisors Inc. Has $352,000 Stake in Rio Tinto Group (NYSE:RIO)

J.W. Cole Advisors Inc. increased its holdings in Rio Tinto Group (NYSE:RIO) by 27.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,731 shares of the mining company’s stock after buying an additional 1,031 shares during the period. J.W. Cole Advisors Inc.’s holdings in Rio Tinto Group were worth $352,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in RIO. AdvisorNet Financial Inc raised its position 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 valued at $28,000 after buying an additional 330 shares in the last quarter. SouthState Corp acquired a new stake in shares of Rio Tinto Group in the third quarter valued at approximately $32,000. Financial Management Professionals Inc. raised its position in Rio Tinto Group by 250.6% during the fourth quarter. Financial Management Professionals Inc. now owns 617 shares of the mining company’s stock valued at $46,000 after purchasing an additional 441 shares in the last quarter. Bruce G. Allen Investments LLC acquired a new position in Rio Tinto Group during the fourth quarter valued at approximately $47,000. Finally, NBC Securities Inc. acquired a new position in Rio Tinto Group during the third quarter valued at approximately $59,000. 19.33% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Liberum Capital restated a “hold” rating on shares of Rio Tinto Group in a research report on Tuesday, March 5th. The Goldman Sachs Group assumed coverage on shares of Rio Tinto Group in a research report on Friday, January 12th. They set a “buy” rating for the company. Finally, StockNews.com upgraded shares of Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a research report on Thursday, April 18th. Two equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Rio Tinto Group presently has a consensus rating of “Moderate Buy” and an average target price of $72.00.

Rio Tinto Group Stock Up 2.3 %

Shares of NYSE:RIO opened at $68.15 on Thursday. The company has a fifty day moving average of $64.88 and a 200-day moving average of $67.22. The company has a current ratio of 1.69, a quick ratio of 1.17 and a debt-to-equity ratio of 0.23. Rio Tinto Group has a 52-week low of $58.27 and a 52-week high of $75.09.

Rio Tinto Group Increases Dividend

The business also recently declared a semi-annual dividend, which was paid on Thursday, April 18th. Stockholders of record on Friday, March 8th were issued a dividend of $2.58 per share. The ex-dividend date was Thursday, March 7th. This is an increase from Rio Tinto Group’s previous semi-annual dividend of $1.77. 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.