Potentia Wealth Makes New Investment in Rio Tinto Group (NYSE:RIO)

Potentia Wealth purchased a new stake in shares of Rio Tinto Group (NYSE:RIO) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 11,154 shares of the mining company’s stock, valued at approximately $656,000.

A number of other hedge funds and other institutional investors have also modified their holdings of RIO. Jeppson Wealth Management LLC lifted its position in Rio Tinto Group by 47.5% during the 4th quarter. Jeppson Wealth Management LLC now owns 20,093 shares of the mining company’s stock valued at $1,182,000 after purchasing an additional 6,473 shares during the period. Fisher Asset Management LLC boosted its stake in Rio Tinto Group by 2.9% in the third quarter. Fisher Asset Management LLC now owns 17,528,095 shares of the mining company’s stock valued at $1,247,475,000 after acquiring an additional 485,731 shares during the last quarter. Barclays PLC grew its holdings in Rio Tinto Group by 225.6% during the 3rd quarter. Barclays PLC now owns 335,637 shares of the mining company’s stock worth $23,888,000 after acquiring an additional 232,539 shares during the period. Marshall Financial Group LLC bought a new stake in shares of Rio Tinto Group during the 4th quarter valued at $810,000. Finally, Palliser Capital UK Ltd lifted its stake in shares of Rio Tinto Group by 213.8% in the 4th quarter. Palliser Capital UK Ltd now owns 989,417 shares of the mining company’s stock valued at $58,188,000 after purchasing an additional 674,117 shares during the period. Institutional investors and hedge funds own 19.33% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Clarkson Capital raised Rio Tinto Group to a “strong-buy” rating in a research note on Friday, February 28th. StockNews.com cut Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a research note on Saturday, February 22nd. Jefferies Financial Group decreased their price objective on shares of Rio Tinto Group from $83.00 to $73.00 and set a “buy” rating for the company in a report on Monday, January 6th. Finally, JPMorgan Chase & Co. initiated coverage on shares of Rio Tinto Group in a report on Tuesday, March 18th. They issued an “overweight” rating on the stock. Three analysts have rated the stock with a hold rating, five have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Rio Tinto Group has an average rating of “Moderate Buy” and an average target price of $73.00.

Rio Tinto Group Price Performance

NYSE RIO opened at $62.25 on Tuesday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.16 and a current ratio of 1.63. The stock has a market cap of $78.00 billion, a price-to-earnings ratio of 9.65, a PEG ratio of 0.42 and a beta of 0.60. The business has a 50 day simple moving average of $61.96 and a 200 day simple moving average of $62.90. Rio Tinto Group has a 52-week low of $57.85 and a 52-week high of $74.24.

Rio Tinto Group Increases Dividend

The business also recently disclosed 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. This is an increase from Rio Tinto Group’s previous semi-annual dividend of $1.77. The ex-dividend date of this dividend is Friday, March 7th. This represents a dividend yield of 7%. Rio Tinto Group’s dividend payout ratio is currently 69.15%.

About Rio Tinto Group

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.