Rio Tinto Group (NYSE:RIO) Shares Bought by Ashburton Jersey Ltd

Ashburton Jersey Ltd grew its position in Rio Tinto Group (NYSE:RIO) by 34.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 4,266 shares of the mining company’s stock after purchasing an additional 1,104 shares during the period. Ashburton Jersey Ltd’s holdings in Rio Tinto Group were worth $318,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. SG Americas Securities LLC boosted its holdings in Rio Tinto Group by 44.9% in the third quarter. SG Americas Securities LLC now owns 16,243 shares of the mining company’s stock valued at $1,034,000 after purchasing an additional 5,034 shares during the last quarter. Simplicity Solutions LLC grew its holdings in Rio Tinto Group by 6.2% during the third quarter. Simplicity Solutions LLC now owns 5,017 shares of the mining company’s stock worth $319,000 after acquiring an additional 294 shares during the period. Commonwealth Equity Services LLC raised its position in Rio Tinto Group by 0.7% during the third quarter. Commonwealth Equity Services LLC now owns 197,915 shares of the mining company’s stock valued at $12,595,000 after acquiring an additional 1,374 shares in the last quarter. SVB Wealth LLC boosted its position in Rio Tinto Group by 4.5% in the 3rd quarter. SVB Wealth LLC now owns 7,252 shares of the mining company’s stock worth $461,000 after purchasing an additional 312 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. grew its stake in shares of Rio Tinto Group by 5.1% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 95,253 shares of the mining company’s stock worth $6,062,000 after purchasing an additional 4,626 shares during the period. 19.33% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Liberum Capital restated a “hold” rating on shares of Rio Tinto Group in a research report on Tuesday, March 5th. StockNews.com raised Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a research note on Monday. Finally, The Goldman Sachs Group assumed coverage on shares of Rio Tinto Group in a report on Friday, January 12th. They set a “buy” rating on the stock. Two analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Rio Tinto Group presently has an average rating of “Moderate Buy” and an average target price of $72.00.

Rio Tinto Group Stock Up 0.6 %

Shares of NYSE:RIO traded up $0.38 during mid-day trading on Thursday, reaching $67.88. 895,802 shares of the company were exchanged, compared to its average volume of 2,948,186. Rio Tinto Group has a 1 year low of $58.27 and a 1 year high of $75.09. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.17 and a current ratio of 1.69. The firm’s 50-day simple moving average is $64.94 and its 200 day simple moving average is $67.42.

Rio Tinto Group Increases Dividend

The company also recently declared a semi-annual dividend, which was paid on Thursday, April 18th. Stockholders of record on Friday, March 8th were given a dividend of $2.58 per share. This is a positive change from Rio Tinto Group’s previous semi-annual dividend of $1.77. This represents a dividend yield of 6.6%. The ex-dividend date was Thursday, March 7th.

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.