XTX Topco Ltd Takes Position in Rio Tinto Group (NYSE:RIO)

XTX Topco Ltd purchased a new position in shares of Rio Tinto Group (NYSE:RIO) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 21,097 shares of the mining company’s stock, valued at approximately $1,241,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of RIO. Thurston Springer Miller Herd & Titak Inc. increased its holdings in shares of Rio Tinto Group by 63.9% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 500 shares of the mining company’s stock valued at $29,000 after purchasing an additional 195 shares during the last quarter. Rakuten Securities Inc. boosted its stake in shares of Rio Tinto Group by 74.8% in the 4th quarter. Rakuten Securities Inc. now owns 493 shares of the mining company’s stock valued at $29,000 after purchasing an additional 211 shares in the last quarter. Mechanics Financial Corp acquired a new stake in shares of Rio Tinto Group during the 4th quarter valued at $29,000. Golden State Wealth Management LLC bought a new stake in Rio Tinto Group during the 4th quarter worth approximately $47,000. Finally, HHM Wealth Advisors LLC bought a new stake in shares of Rio Tinto Group in the 4th quarter valued at about $50,000. Institutional investors own 19.33% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on RIO shares. Jefferies Financial Group cut their target price on Rio Tinto Group from $83.00 to $73.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Clarkson Capital upgraded shares of Rio Tinto Group to a “strong-buy” rating in a research note on Friday, February 28th. JPMorgan Chase & Co. started coverage on Rio Tinto Group in a report on Tuesday, March 18th. They set an “overweight” rating on the stock. DZ Bank upgraded shares of Rio Tinto Group from a “hold” rating to a “strong-buy” rating in a research report on Thursday, March 27th. Finally, StockNews.com cut shares of Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a report on Saturday. Four analysts have rated the stock with a hold rating, five have assigned a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Rio Tinto Group has a consensus rating of “Moderate Buy” and an average target price of $73.00.

Rio Tinto Group Price Performance

Rio Tinto Group stock opened at $56.93 on Tuesday. Rio Tinto Group has a 52 week low of $51.67 and a 52 week high of $74.24. The company has a quick ratio of 1.16, a current ratio of 1.63 and a debt-to-equity ratio of 0.23. The stock has a market cap of $71.39 billion, a price-to-earnings ratio of 8.83, a PEG ratio of 0.42 and a beta of 0.66. The business has a 50-day simple moving average of $60.90 and a 200 day simple moving average of $62.15.

Rio Tinto Group Increases Dividend

The business also recently announced a semi-annual dividend, which will be paid on Thursday, April 17th. Investors of record on Friday, March 7th will be given a $2.23 dividend. 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 yield of 7%. Rio Tinto Group’s payout ratio is 69.15%.

Rio Tinto Group Company 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.