Rio Tinto Group (NYSE:RIO) Shares Acquired by Royal Fund Management LLC

Royal Fund Management LLC lifted its holdings in Rio Tinto Group (NYSE:RIO) by 141.8% during the 4th quarter, HoldingsChannel.com reports. The firm owned 28,650 shares of the mining company’s stock after acquiring an additional 16,800 shares during the quarter. Royal Fund Management LLC’s holdings in Rio Tinto Group were worth $2,133,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Schechter Investment Advisors LLC boosted its position in Rio Tinto Group by 10.9% during the third quarter. Schechter Investment Advisors LLC now owns 8,732 shares of the mining company’s stock valued at $556,000 after purchasing an additional 858 shares during the last quarter. International Assets Investment Management LLC acquired a new position in Rio Tinto Group during the fourth quarter worth $7,954,000. Sei Investments Co. lifted its holdings in Rio Tinto Group by 18.3% during the 3rd quarter. Sei Investments Co. now owns 721,662 shares of the mining company’s stock valued at $45,926,000 after purchasing an additional 111,623 shares during the last quarter. Morgan Stanley raised its stake in shares of Rio Tinto Group by 2.7% in the third quarter. Morgan Stanley now owns 4,464,344 shares of the mining company’s stock valued at $284,111,000 after acquiring an additional 118,706 shares during the last quarter. Finally, Kingswood Wealth Advisors LLC boosted its stake in Rio Tinto Group by 88.2% in the fourth quarter. Kingswood Wealth Advisors LLC now owns 8,221 shares of the mining company’s stock worth $612,000 after purchasing an additional 3,852 shares in the last quarter. Institutional investors and hedge funds own 19.33% of the company’s stock.

Rio Tinto Group Trading Up 1.0 %

NYSE RIO traded up $0.66 on Friday, hitting $68.94. 3,193,760 shares of the company’s stock were exchanged, compared to its average volume of 3,270,538. The stock has a 50-day moving average of $65.05 and a 200-day moving average of $67.46. Rio Tinto Group has a 52 week low of $58.27 and a 52 week high of $75.09. The company has a quick ratio of 1.17, a current ratio of 1.69 and a debt-to-equity ratio of 0.23.

Rio Tinto Group Increases Dividend

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

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Liberum Capital reissued a “hold” rating on shares of Rio Tinto Group in a research note on Tuesday, March 5th. The Goldman Sachs Group began coverage on Rio Tinto Group in a research note on Friday, January 12th. They set a “buy” rating on the stock. Finally, StockNews.com upgraded shares of Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a report on Monday, April 29th. Two equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $72.00.

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.