Rio Tinto Group (NYSE:RIO) Shares Acquired by Capital Wealth Planning LLC

Capital Wealth Planning LLC lifted its stake in shares of Rio Tinto Group (NYSE:RIO) by 8.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 22,961 shares of the mining company’s stock after purchasing an additional 1,856 shares during the quarter. Capital Wealth Planning LLC’s holdings in Rio Tinto Group were worth $1,350,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in RIO. Nisa Investment Advisors LLC raised its position in shares of Rio Tinto Group by 49.1% during the 3rd quarter. Nisa Investment Advisors LLC now owns 820 shares of the mining company’s stock worth $58,000 after purchasing an additional 270 shares during the period. Stephens Inc. AR increased its position in Rio Tinto Group by 17.6% in the 3rd quarter. Stephens Inc. AR now owns 53,693 shares of the mining company’s stock valued at $3,821,000 after acquiring an additional 8,041 shares during the period. Lmcg Investments LLC increased its position in Rio Tinto Group by 1.0% in the 3rd quarter. Lmcg Investments LLC now owns 112,015 shares of the mining company’s stock valued at $7,972,000 after acquiring an additional 1,070 shares during the period. Allen Wealth Management LLC increased its position in Rio Tinto Group by 1.8% in the 3rd quarter. Allen Wealth Management LLC now owns 24,128 shares of the mining company’s stock valued at $1,717,000 after acquiring an additional 434 shares during the period. Finally, Van ECK Associates Corp increased its position in Rio Tinto Group by 10.7% in the 3rd quarter. Van ECK Associates Corp now owns 693,102 shares of the mining company’s stock valued at $49,328,000 after acquiring an additional 67,213 shares during the period. 19.33% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

RIO has been the topic of several analyst reports. Jefferies Financial Group lowered their target price on Rio Tinto Group from $83.00 to $73.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. StockNews.com cut Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a research report on Saturday, February 22nd. Four research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $73.00.

Rio Tinto Group Stock Down 0.3 %

Shares of RIO stock opened at $60.51 on Friday. 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 $75.82 billion, a PE ratio of 9.38, a price-to-earnings-growth ratio of 0.42 and a beta of 0.65. The business’s fifty day moving average is $60.77 and its 200-day moving average is $62.88. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.16 and a current ratio of 1.63.

Rio Tinto Group Increases Dividend

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

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.