Bridgewater Associates LP Grows Stock Holdings in Rio Tinto Group (NYSE:RIO)

Bridgewater Associates LP lifted its stake in shares of Rio Tinto Group (NYSE:RIO) by 94.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 494,747 shares of the mining company’s stock after purchasing an additional 239,982 shares during the period. Bridgewater Associates LP’s holdings in Rio Tinto Group were worth $29,096,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Barclays PLC raised its stake in Rio Tinto Group by 225.6% during the third quarter. Barclays PLC now owns 335,637 shares of the mining company’s stock worth $23,888,000 after purchasing an additional 232,539 shares during the period. McIlrath & Eck LLC raised its position in shares of Rio Tinto Group by 20.6% during the 3rd quarter. McIlrath & Eck LLC now owns 1,382 shares of the mining company’s stock valued at $98,000 after buying an additional 236 shares during the period. Advisory Resource Group lifted its holdings in Rio Tinto Group by 11.1% in the third quarter. Advisory Resource Group now owns 16,812 shares of the mining company’s stock valued at $1,197,000 after acquiring an additional 1,678 shares during the last quarter. Stock Yards Bank & Trust Co. lifted its holdings in Rio Tinto Group by 11.3% in the third quarter. Stock Yards Bank & Trust Co. now owns 5,212 shares of the mining company’s stock valued at $371,000 after acquiring an additional 529 shares during the last quarter. Finally, Sanctuary Advisors LLC grew its position in Rio Tinto Group by 1.8% in the third quarter. Sanctuary Advisors LLC now owns 28,506 shares of the mining company’s stock worth $2,029,000 after acquiring an additional 516 shares during the period. 19.33% of the stock is currently owned by hedge funds and other institutional investors.

Rio Tinto Group Price Performance

Rio Tinto Group stock opened at $57.16 on Wednesday. The company has a quick ratio of 1.16, a current ratio of 1.63 and a debt-to-equity ratio of 0.23. Rio Tinto Group has a 52-week low of $51.67 and a 52-week high of $74.24. The firm has a market cap of $71.67 billion, a PE ratio of 8.86, a price-to-earnings-growth ratio of 0.42 and a beta of 0.66. The company’s 50 day moving average is $60.80 and its two-hundred day moving average is $62.12.

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 paid a $2.23 dividend. This is a boost from Rio Tinto Group’s previous semi-annual dividend of $1.77. This represents a dividend yield of 7%. The ex-dividend date of this dividend is Friday, March 7th. Rio Tinto Group’s dividend payout ratio (DPR) is presently 69.15%.

Analyst Ratings Changes

Several brokerages have recently commented on RIO. Jefferies Financial Group decreased their price target on Rio Tinto Group from $83.00 to $73.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Morgan Stanley lowered shares of Rio Tinto Group from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, April 9th. StockNews.com downgraded shares of Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a research note on Saturday. JPMorgan Chase & Co. initiated coverage on shares of Rio Tinto Group in a research report on Tuesday, March 18th. They set an “overweight” rating for the company. Finally, Clarkson Capital raised Rio Tinto Group to a “strong-buy” rating in a research report on Friday, February 28th. Four equities research analysts have rated the stock with a hold rating, five have given a buy rating and three have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price 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.