Rio Tinto Group (NYSE:RIO) Shares Sold by Fractal Investments LLC

Fractal Investments LLC trimmed its position in shares of Rio Tinto Group (NYSE:RIO) by 67.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,200 shares of the mining company’s stock after selling 16,701 shares during the period. Fractal Investments LLC’s holdings in Rio Tinto Group were worth $611,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Wellington Management Group LLP increased its position in shares of Rio Tinto Group by 41.0% during the third quarter. Wellington Management Group LLP now owns 23,193,773 shares of the mining company’s stock worth $1,476,052,000 after acquiring an additional 6,748,799 shares during the last quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH acquired a new position in shares of Rio Tinto Group in the 3rd quarter valued at approximately $42,346,000. Qube Research & Technologies Ltd boosted its stake in shares of Rio Tinto Group by 160.2% during the 3rd quarter. Qube Research & Technologies Ltd now owns 581,714 shares of the mining company’s stock valued at $37,020,000 after buying an additional 358,121 shares during the last quarter. Envestnet Asset Management Inc. grew its position in shares of Rio Tinto Group by 33.5% during the third quarter. Envestnet Asset Management Inc. now owns 965,384 shares of the mining company’s stock worth $61,437,000 after buying an additional 242,313 shares in the last quarter. Finally, abrdn plc bought a new stake in shares of Rio Tinto Group in the third quarter worth $12,582,000. Hedge funds and other institutional investors own 19.33% of the company’s stock.

Analyst Ratings Changes

Several brokerages have weighed in on RIO. The Goldman Sachs Group started coverage on shares of Rio Tinto Group in a report on Friday, January 12th. They set a “buy” rating for the company. StockNews.com upgraded Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a research note on Thursday, April 18th. Finally, Liberum Capital reiterated a “hold” rating on shares of Rio Tinto Group in a report 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’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $72.00.

Rio Tinto Group Stock Performance

Shares of NYSE RIO traded up $1.50 during mid-day trading on Wednesday, hitting $68.15. The company had a trading volume of 3,403,156 shares, compared to its average volume of 2,979,788. The firm’s 50 day simple moving average is $64.88 and its two-hundred day simple moving average is $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 12 month low of $58.27 and a 12 month high of $75.09.

Rio Tinto Group Increases Dividend

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

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.