Scotia Capital Inc. Grows Position in Rio Tinto Group (NYSE:RIO)

Scotia Capital Inc. raised its position in shares of Rio Tinto Group (NYSE:RIOFree Report) by 6.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 94,749 shares of the mining company’s stock after acquiring an additional 5,538 shares during the period. Scotia Capital Inc.’s holdings in Rio Tinto Group were worth $5,572,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of RIO. Dorsey & Whitney Trust CO LLC raised its stake in Rio Tinto Group by 2.0% during the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 8,113 shares of the mining company’s stock valued at $477,000 after purchasing an additional 160 shares in the last quarter. Nemes Rush Group LLC raised its position in shares of Rio Tinto Group by 10.0% during the 4th quarter. Nemes Rush Group LLC now owns 1,855 shares of the mining company’s stock valued at $109,000 after buying an additional 169 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. lifted its holdings in shares of Rio Tinto Group by 63.9% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 500 shares of the mining company’s stock valued at $29,000 after acquiring an additional 195 shares during the last quarter. Cohen Investment Advisors LLC grew its position in Rio Tinto Group by 3.8% in the fourth quarter. Cohen Investment Advisors LLC now owns 5,352 shares of the mining company’s stock worth $315,000 after acquiring an additional 198 shares in the last quarter. Finally, Mount Yale Investment Advisors LLC increased its stake in Rio Tinto Group by 2.0% during the fourth quarter. Mount Yale Investment Advisors LLC now owns 10,191 shares of the mining company’s stock worth $599,000 after acquiring an additional 200 shares during the last quarter. 19.33% of the stock is currently owned by institutional investors.

Rio Tinto Group Trading Up 3.6 %

NYSE RIO opened at $56.83 on Friday. Rio Tinto Group has a 12 month low of $51.67 and a 12 month high of $74.24. The company’s 50-day moving average price is $60.99 and its 200-day moving average price is $62.31. The stock has a market cap of $71.26 billion, a PE ratio of 8.81, a PEG ratio of 0.42 and a beta of 0.66. The company has a current ratio of 1.63, a quick ratio of 1.16 and a debt-to-equity ratio of 0.23.

Rio Tinto Group Increases Dividend

The business also recently announced 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 is Friday, March 7th. This is a positive change 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%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on RIO shares. Clarkson Capital upgraded Rio Tinto Group to a “strong-buy” rating in a report on Friday, February 28th. Jefferies Financial Group dropped 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 research note on Monday, January 6th. Morgan Stanley downgraded shares of Rio Tinto Group from an “overweight” rating to an “equal weight” rating in a research note on Wednesday. StockNews.com cut shares of Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a research note on Saturday. Finally, JPMorgan Chase & Co. began coverage on shares of Rio Tinto Group in a research report on Tuesday, March 18th. They issued an “overweight” rating on the stock. Four equities research analysts have rated the stock with a hold rating, five have issued a buy rating and three have given a strong buy rating to the stock. According to MarketBeat, Rio Tinto Group has a consensus rating of “Moderate Buy” and a consensus price target of $73.00.

Get Our Latest Stock Analysis on RIO

Rio Tinto Group Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Rio Tinto Group (NYSE:RIO)

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