19,500 Shares in Rio Tinto Group (NYSE:RIO) Purchased by Sharpepoint LLC

Sharpepoint LLC acquired a new stake in shares of Rio Tinto Group (NYSE:RIO) during the 4th quarter, according to its most recent disclosure with the SEC. The fund acquired 19,500 shares of the mining company’s stock, valued at approximately $1,147,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Barclays PLC increased its stake in shares of Rio Tinto Group by 225.6% in 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 in the last quarter. McIlrath & Eck LLC increased its stake in shares of Rio Tinto Group by 20.6% during the third quarter. McIlrath & Eck LLC now owns 1,382 shares of the mining company’s stock valued at $98,000 after purchasing an additional 236 shares in the last quarter. Advisory Resource Group lifted its holdings in shares of Rio Tinto Group by 11.1% during the third quarter. Advisory Resource Group now owns 16,812 shares of the mining company’s stock valued at $1,197,000 after purchasing an additional 1,678 shares during the last quarter. Stock Yards Bank & Trust Co. lifted its holdings in shares of Rio Tinto Group by 11.3% during the third quarter. Stock Yards Bank & Trust Co. now owns 5,212 shares of the mining company’s stock valued at $371,000 after purchasing an additional 529 shares during the last quarter. Finally, World Investment Advisors LLC boosted its position in shares of Rio Tinto Group by 5.9% in the 3rd quarter. World Investment Advisors LLC now owns 4,802 shares of the mining company’s stock worth $342,000 after purchasing an additional 266 shares in the last quarter. Hedge funds and other institutional investors own 19.33% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. StockNews.com raised Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a research report on Sunday. Jefferies Financial Group lowered their price target on Rio Tinto Group from $83.00 to $73.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Morgan Stanley cut shares of Rio Tinto Group from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, April 9th. 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. started coverage on shares of Rio Tinto Group in a report on Tuesday, March 18th. They issued an “overweight” rating for the company. Four analysts have rated the stock with a hold rating, five have issued a buy rating and four have given a strong buy rating to the company. According to MarketBeat, Rio Tinto Group presently has an average rating of “Buy” and an average target price of $73.00.

Rio Tinto Group Price Performance

Shares of NYSE:RIO opened at $58.15 on Friday. The business has a 50-day simple moving average of $60.55 and a two-hundred day simple moving average of $61.84. 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 firm has a market cap of $72.91 billion, a price-to-earnings ratio of 9.02, a price-to-earnings-growth ratio of 0.42 and a beta of 0.66. Rio Tinto Group has a fifty-two week low of $51.67 and a fifty-two week high of $74.24.

Rio Tinto Group Increases Dividend

The business also recently disclosed a semi-annual dividend, which was paid on Thursday, April 17th. Investors of record on Friday, March 7th were 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 was Friday, March 7th. This represents a yield of 7%. Rio Tinto Group’s dividend payout ratio 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.