Leisure Capital Management Has $1.15 Million Stake in Rio Tinto Group (NYSE:RIO)

Leisure Capital Management lowered its position in Rio Tinto Group (NYSE:RIO) by 14.9% during the fourth quarter, Holdings Channel reports. The firm owned 15,489 shares of the mining company’s stock after selling 2,709 shares during the period. Leisure Capital Management’s holdings in Rio Tinto Group were worth $1,153,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of RIO. AdvisorNet Financial Inc lifted its position in shares of Rio Tinto Group by 785.7% in the 4th quarter. AdvisorNet Financial Inc now owns 372 shares of the mining company’s stock worth $28,000 after purchasing an additional 330 shares during the period. SouthState Corp acquired a new position in shares of Rio Tinto Group during the 3rd quarter valued at $32,000. Parkside Financial Bank & Trust lifted its position in shares of Rio Tinto Group by 39.3% during the 4th quarter. Parkside Financial Bank & Trust now owns 553 shares of the mining company’s stock valued at $41,000 after acquiring an additional 156 shares during the period. Financial Management Professionals Inc. lifted its position in shares of Rio Tinto Group by 250.6% during the 4th quarter. Financial Management Professionals Inc. now owns 617 shares of the mining company’s stock valued at $46,000 after acquiring an additional 441 shares during the period. Finally, Bruce G. Allen Investments LLC acquired a new position in shares of Rio Tinto Group during the 4th quarter valued at $47,000. Institutional investors and hedge funds own 19.33% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. 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 on the stock. Liberum Capital reiterated a “hold” rating on shares of Rio Tinto Group in a research report on Tuesday, March 5th. 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 analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $72.00.

Rio Tinto Group Price Performance

RIO stock traded up $0.46 during midday trading on Friday, reaching $68.24. 3,019,687 shares of the company’s stock traded hands, compared to its average volume of 3,306,954. The firm’s fifty day moving average price is $64.86 and its 200-day moving average price is $67.27. 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 52 week low of $58.27 and a 52 week high of $75.09.

Rio Tinto Group Increases Dividend

The firm also recently declared a semi-annual dividend, which was paid on Thursday, April 18th. Shareholders of record on Friday, March 8th were paid a dividend of $2.58 per share. This represents a yield of 6.6%. The ex-dividend date of this dividend was Thursday, March 7th. This is a positive change from Rio Tinto Group’s previous semi-annual dividend of $1.77.

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.