Quadrant Capital Group LLC Buys 1,300 Shares of Rio Tinto Group (NYSE:RIO)

Quadrant Capital Group LLC raised its stake in shares of Rio Tinto Group (NYSE:RIO) by 15.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 9,992 shares of the mining company’s stock after buying an additional 1,300 shares during the quarter. Quadrant Capital Group LLC’s holdings in Rio Tinto Group were worth $588,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Jeppson Wealth Management LLC boosted its stake in Rio Tinto Group by 47.5% in the 4th quarter. Jeppson Wealth Management LLC now owns 20,093 shares of the mining company’s stock worth $1,182,000 after purchasing an additional 6,473 shares in the last quarter. Barclays PLC grew its holdings in shares of Rio Tinto Group by 225.6% during the third quarter. Barclays PLC now owns 335,637 shares of the mining company’s stock valued at $23,888,000 after buying an additional 232,539 shares during the last quarter. Marshall Financial Group LLC bought a new stake in shares of Rio Tinto Group during the fourth quarter valued at approximately $810,000. Palliser Capital UK Ltd raised its holdings in 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 worth $58,188,000 after acquiring an additional 674,117 shares during the last quarter. Finally, Tidal Investments LLC lifted its position in Rio Tinto Group by 16.2% in the 3rd quarter. Tidal Investments LLC now owns 122,623 shares of the mining company’s stock valued at $8,727,000 after acquiring an additional 17,052 shares in the last quarter. 19.33% of the stock is owned by institutional investors.

Rio Tinto Group Stock Performance

RIO opened at $54.66 on Monday. The company’s 50 day moving average is $61.82 and its 200 day moving average is $62.81. The company has a current ratio of 1.63, a quick ratio of 1.16 and a debt-to-equity ratio of 0.23. The company has a market cap of $68.54 billion, a price-to-earnings ratio of 8.47, a PEG ratio of 0.42 and a beta of 0.66. Rio Tinto Group has a 12-month low of $52.56 and a 12-month high of $74.24.

Rio Tinto Group Increases Dividend

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

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. Jefferies Financial Group reduced their target price on Rio Tinto Group from $83.00 to $73.00 and set a “buy” rating for the company in a report on Monday, January 6th. StockNews.com raised Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a research report on Friday. Clarkson Capital raised shares of Rio Tinto Group to a “strong-buy” rating in a report on Friday, February 28th. DZ Bank upgraded shares of Rio Tinto Group from a “hold” rating to a “strong-buy” rating in a research note on Thursday, March 27th. Finally, JPMorgan Chase & Co. began coverage on shares of Rio Tinto Group in a research report on Tuesday, March 18th. They set an “overweight” rating on the stock. Three research analysts have rated the stock with a hold rating, four have assigned a buy rating and four have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $73.00.

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.