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Guggenheim Capital LLC trimmed its position in Rio Tinto Group (NYSE:RIO – Free Report) by 2.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 30,215 shares of the mining company’s stock after selling 611 shares during the period. Guggenheim Capital LLC’s holdings in Rio Tinto Group were worth $1,777,000 as of its most recent SEC filing.
Several other institutional investors also recently bought and sold shares of RIO. Rakuten Securities Inc. raised its holdings in Rio Tinto Group by 74.8% during the fourth quarter. Rakuten Securities Inc. now owns 493 shares of the mining company’s stock worth $29,000 after purchasing an additional 211 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. raised its stake in shares of Rio Tinto Group by 63.9% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 500 shares of the mining company’s stock worth $29,000 after buying an additional 195 shares in the last quarter. Mechanics Financial Corp acquired a new stake in shares of Rio Tinto Group in the 4th quarter valued at approximately $29,000. Golden State Wealth Management LLC purchased a new stake in shares of Rio Tinto Group in the fourth quarter valued at approximately $47,000. Finally, HHM Wealth Advisors LLC acquired a new position in Rio Tinto Group during the fourth quarter worth $50,000. 19.33% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of equities research analysts have commented on RIO shares. Clarkson Capital raised Rio Tinto Group to a “strong-buy” rating in a report on Friday, February 28th. JPMorgan Chase & Co. assumed coverage on shares of Rio Tinto Group in a report on Tuesday, March 18th. They set an “overweight” rating on the stock. DZ Bank raised shares of Rio Tinto Group from a “hold” rating to a “strong-buy” rating in a report on Thursday, March 27th. Barclays restated an “overweight” rating on shares of Rio Tinto Group in a report on Wednesday. Finally, Jefferies Financial Group decreased their target price on Rio Tinto Group from $83.00 to $73.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Four investment 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’s stock. Based on data from MarketBeat, Rio Tinto Group presently has an average rating of “Buy” and a consensus price target of $73.00.
Rio Tinto Group Stock Up 1.7 %
Shares of NYSE:RIO opened at $58.15 on Monday. The company has a market capitalization of $72.91 billion, a P/E ratio of 9.02, a P/E/G ratio of 0.42 and a beta of 0.66. The stock’s fifty day simple moving average is $60.55 and its 200-day simple moving average is $61.79. Rio Tinto Group has a 52-week low of $51.67 and a 52-week high of $74.24. The company has a quick ratio of 1.16, a current ratio of 1.63 and a debt-to-equity ratio of 0.23.
Rio Tinto Group Increases Dividend
The company also recently declared a semi-annual dividend, which was paid on Thursday, April 17th. Stockholders of record on Friday, March 7th were issued a dividend of $2.23 per share. The ex-dividend date was Friday, March 7th. This is an increase from Rio Tinto Group’s previous semi-annual dividend of $1.77. This represents a dividend yield of 7%. Rio Tinto Group’s payout ratio is 69.15%.
Rio Tinto Group 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.
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