Rio Tinto Group (NYSE:RIO) Shares Sold by Courier Capital LLC

Courier Capital LLC decreased its stake in Rio Tinto Group (NYSE:RIO) by 79.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,344 shares of the mining company’s stock after selling 24,707 shares during the period. Courier Capital LLC’s holdings in Rio Tinto Group were worth $472,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of RIO. Wellington Management Group LLP boosted its holdings in shares of Rio Tinto Group by 41.0% in the 3rd quarter. Wellington Management Group LLP now owns 23,193,773 shares of the mining company’s stock valued at $1,476,052,000 after buying an additional 6,748,799 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in Rio Tinto Group by 58.9% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 12,899,694 shares of the mining company’s stock worth $1,037,135,000 after purchasing an additional 4,783,488 shares during the period. Cowa LLC acquired a new stake in Rio Tinto Group during the 1st quarter worth $26,000. Renaissance Technologies LLC boosted its stake in Rio Tinto Group by 227.8% during the 2nd quarter. Renaissance Technologies LLC now owns 972,900 shares of the mining company’s stock worth $62,110,000 after purchasing an additional 676,100 shares during the period. Finally, MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH acquired a new stake in Rio Tinto Group during the 3rd quarter worth $42,346,000. Institutional investors and hedge funds own 19.33% of the company’s stock.

Rio Tinto Group Trading Up 2.1 %

Shares of Rio Tinto Group stock opened at $63.46 on Thursday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.17 and a current ratio of 1.69. Rio Tinto Group has a one year low of $58.27 and a one year high of $75.09. The firm has a fifty day moving average of $66.19 and a two-hundred day moving average of $66.91.

Rio Tinto Group Increases Dividend

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

Analysts Set New Price Targets

A number of brokerages recently weighed in on RIO. The Goldman Sachs Group began coverage on shares of Rio Tinto Group in a research note on Friday, January 12th. They set a “buy” rating for the company. BNP Paribas upgraded shares of Rio Tinto Group from a “neutral” rating to an “outperform” rating in a research note on Tuesday, December 5th. StockNews.com upgraded shares of Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a research note on Wednesday. Finally, Liberum Capital reiterated a “hold” rating on shares of Rio Tinto Group in a research note on Tuesday, March 5th. Two 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 company. According to data from MarketBeat, Rio Tinto Group presently has an average rating of “Moderate Buy” and an average price target of $72.00.

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.