Rio Tinto Group (NYSE:RIO) Shares Sold by RWA Wealth Partners LLC

RWA Wealth Partners LLC reduced its position in Rio Tinto Group (NYSE:RIO) by 0.8% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 49,426 shares of the mining company’s stock after selling 409 shares during the quarter. RWA Wealth Partners LLC’s holdings in Rio Tinto Group were worth $2,907,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of RIO. Palliser Capital UK Ltd increased its stake in shares of Rio Tinto Group by 213.8% during the fourth quarter. Palliser Capital UK Ltd now owns 989,417 shares of the mining company’s stock worth $58,188,000 after acquiring an additional 674,117 shares during the period. Raymond James Financial Inc. acquired a new position in Rio Tinto Group during the 4th quarter worth approximately $29,606,000. SPX Gestao de Recursos Ltda raised its stake in shares of Rio Tinto Group by 1,773.2% during the 3rd quarter. SPX Gestao de Recursos Ltda now owns 426,922 shares of the mining company’s stock worth $30,384,000 after buying an additional 404,131 shares in the last quarter. FMR LLC lifted its holdings in shares of Rio Tinto Group by 35.1% in the 3rd quarter. FMR LLC now owns 1,381,766 shares of the mining company’s stock valued at $98,340,000 after buying an additional 358,630 shares during the period. Finally, ABC Arbitrage SA purchased a new stake in shares of Rio Tinto Group in the fourth quarter valued at approximately $20,026,000. Hedge funds and other institutional investors own 19.33% of the company’s stock.

Rio Tinto Group Trading Down 2.2 %

Shares of RIO opened at $60.99 on Monday. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.63 and a quick ratio of 1.16. Rio Tinto Group has a 1-year low of $57.85 and a 1-year high of $74.24. The stock has a market cap of $76.48 billion, a price-to-earnings ratio of 9.46, a price-to-earnings-growth ratio of 0.42 and a beta of 0.60. The firm has a 50 day simple moving average of $62.11 and a 200-day simple moving average of $62.96.

Rio Tinto Group Increases Dividend

The business also recently declared a semi-annual dividend, which will be paid on Thursday, April 17th. Stockholders of record on Friday, March 7th will be issued a $2.23 dividend. This represents a dividend yield of 7%. This is a boost from Rio Tinto Group’s previous semi-annual dividend of $1.77. The ex-dividend date of this dividend is Friday, March 7th. Rio Tinto Group’s payout ratio is 69.15%.

Analyst Ratings Changes

A number of equities research analysts have commented on RIO shares. StockNews.com downgraded Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a report on Saturday, February 22nd. JPMorgan Chase & Co. initiated coverage on shares of Rio Tinto Group in a research note on Tuesday, March 18th. They issued an “overweight” rating for the company. Clarkson Capital upgraded shares of Rio Tinto Group to a “strong-buy” rating in a research report on Friday, February 28th. Jefferies Financial Group reduced their price target on shares of Rio Tinto Group from $83.00 to $73.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Finally, DZ Bank upgraded Rio Tinto Group from a “hold” rating to a “strong-buy” rating in a report on Thursday. Three analysts have rated the stock with a hold rating, five have issued a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat, Rio Tinto Group presently has a consensus rating of “Buy” and an average price target of $73.00.

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.