United Capital Financial Advisors LLC Boosts Position in Rio Tinto Group (NYSE:RIO)

United Capital Financial Advisors LLC lifted its position in Rio Tinto Group (NYSE:RIO) by 4.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 7,575 shares of the mining company’s stock after purchasing an additional 310 shares during the quarter. United Capital Financial Advisors LLC’s holdings in Rio Tinto Group were worth $445,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Palliser Capital UK Ltd increased its holdings in shares of Rio Tinto Group by 213.8% during the 4th quarter. Palliser Capital UK Ltd now owns 989,417 shares of the mining company’s stock worth $58,188,000 after buying an additional 674,117 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in Rio Tinto Group in the fourth quarter valued at $29,606,000. SPX Gestao de Recursos Ltda grew its holdings in shares of Rio Tinto Group by 1,773.2% during the 3rd quarter. SPX Gestao de Recursos Ltda now owns 426,922 shares of the mining company’s stock worth $30,384,000 after purchasing an additional 404,131 shares during the period. ABC Arbitrage SA acquired a new stake in shares of Rio Tinto Group during the 4th quarter worth about $20,026,000. Finally, FMR LLC raised its holdings in Rio Tinto Group by 24.6% in the 4th quarter. FMR LLC now owns 1,721,690 shares of the mining company’s stock valued at $101,253,000 after buying an additional 339,924 shares during the period. 19.33% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. StockNews.com raised shares of Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a research note on Sunday. Jefferies Financial Group dropped their target price 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. Morgan Stanley cut Rio Tinto Group from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, April 9th. JPMorgan Chase & Co. initiated coverage on Rio Tinto Group in a research note on Tuesday, March 18th. They issued an “overweight” rating for the company. Finally, DZ Bank raised Rio Tinto Group from a “hold” rating to a “strong-buy” rating in a research note on Thursday, March 27th. Four equities research analysts have rated the stock with a hold rating, five have issued a buy rating and four have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Rio Tinto Group currently has an average rating of “Buy” and an average target price of $73.00.

Rio Tinto Group Trading Up 1.7 %

NYSE:RIO opened at $58.15 on Monday. Rio Tinto Group has a 12-month low of $51.67 and a 12-month high of $74.24. The firm has a market cap of $72.91 billion, a PE ratio of 9.02, a price-to-earnings-growth 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. The stock has a fifty day moving average price of $60.55 and a 200 day moving average price of $61.79.

Rio Tinto Group Increases Dividend

The business also recently disclosed a semi-annual dividend, which was paid on Thursday, April 17th. Stockholders of record on Friday, March 7th were paid a $2.23 dividend. This represents a dividend yield of 7%. The ex-dividend date of this dividend was 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 presently 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.