1 day Ago By Defense World Staff
Norges Bank purchased a new position in shares of Rio Tinto Group (NYSE:RIO – Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 7,353 shares of the mining company’s stock, valued at approximately $432,000. Several other institutional investors have also recently made changes to their positions in RIO.
Jeppson Wealth Management LLC boosted its stake in Rio Tinto Group by 47.5% during the fourth quarter. Jeppson Wealth Management LLC now owns 20,093 shares of the mining company’s stock worth $1,182,000 after buying an additional 6,473 shares during the period.
Barclays PLC lifted its holdings 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 during the last quarter.
Marshall Financial Group LLC purchased a new position in shares of Rio Tinto Group during the 4th quarter worth approximately $810,000. Palliser Capital UK Ltd increased its holdings in Rio Tinto Group by 213.8% in the 4th quarter.
Palliser Capital UK Ltd now owns 989,417 shares of the mining company’s stock valued at $58,188,000 after purchasing an additional 674,117 shares during the last quarter. Finally, Tidal Investments LLC raised its position in Rio Tinto Group by 16.2% in the third quarter.
Tidal Investments LLC now owns 122,623 shares of the mining company’s stock valued at $8,727,000 after purchasing an additional 17,052 shares during the period. Hedge funds and other institutional investors own 19.33% of the company’s stock.
Rio Tinto Group Stock PerformanceShares of Rio Tinto Group stock opened at $56.83 on Friday. The business has a 50-day simple moving average of $60.
99 and a 200-day simple moving average of $62.31. The company has a debt-to-equity ratio of 0.
23, a quick ratio of 1.16 and a current ratio of 1.63.
Rio Tinto Group has a one year low of $51.67 and a one year high of $74.24.
The company has a market cap of $71.26 billion, a PE ratio of 8.81, a P/E/G ratio of 0.
42 and a beta of 0.66. Rio Tinto Group Increases DividendThe company also recently declared a semi-annual dividend, which will be paid on Thursday, April 17th.
Shareholders of record on Friday, March 7th will be issued a dividend of $2.23 per share. This represents a yield of 7%.
The ex-dividend date of this dividend is Friday, March 7th. This is a boost from Rio Tinto Group’s previous semi-annual dividend of $1.77.
Rio Tinto Group’s payout ratio is 69.15%. Analyst Upgrades and DowngradesSeveral research firms have recently commented on RIO.
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.
JPMorgan Chase & Co. started coverage on Rio Tinto Group in a report on Tuesday, March 18th. They set an “overweight” rating for the company.
Morgan Stanley lowered shares of Rio Tinto Group from an “overweight” rating to an “equal weight” rating in a research note on Wednesday. StockNews.com lowered shares of Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a research note on Saturday.
Finally, Clarkson Capital upgraded shares of Rio Tinto Group to a “strong-buy” rating in a report on Friday, February 28th. Four investment analysts have rated the stock with a hold rating, five have assigned a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat.
com, Rio Tinto Group has an average rating of “Moderate Buy” and an average target price of $73.00.Check Out Our Latest Report on RIORio Tinto Group Company Profile (Free Report)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.
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