PNC Financial Services Group Inc. cut its stake in shares of Rio Tinto Group (NYSE:RIO – Free Report) by 0.4% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 49,606 shares of the mining company’s stock after selling 213 shares during the period. PNC Financial Services Group Inc.’s holdings in Rio Tinto Group were worth $2,917,000 as of its most recent SEC filing.
Several other institutional investors also recently made changes to their positions in RIO. Thurston Springer Miller Herd & Titak Inc. lifted its holdings in shares of Rio Tinto Group by 63.9% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 500 shares of the mining company’s stock valued at $29,000 after acquiring an additional 195 shares in the last quarter. Golden State Wealth Management LLC acquired a new stake in shares of Rio Tinto Group in the 4th quarter valued at about $47,000. HHM Wealth Advisors LLC acquired a new stake in shares of Rio Tinto Group in the 4th quarter valued at about $50,000. FSC Wealth Advisors LLC raised its stake in shares of Rio Tinto Group by 150.0% in the 4th quarter. FSC Wealth Advisors LLC now owns 1,000 shares of the mining company’s stock valued at $59,000 after purchasing an additional 600 shares in the last quarter. Finally, Newbridge Financial Services Group Inc. acquired a new stake in shares of Rio Tinto Group in the 4th quarter valued at about $59,000. 19.33% of the stock is owned by hedge funds and other institutional investors.
Rio Tinto Group Trading Up 0.7 %
Rio Tinto Group stock opened at $61.19 on Friday. The firm has a 50 day simple moving average of $61.34 and a 200-day simple moving average of $62.85. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.63 and a quick ratio of 1.16. The stock has a market capitalization of $76.67 billion, a PE ratio of 9.49, a price-to-earnings-growth ratio of 0.42 and a beta of 0.60. Rio Tinto Group has a 12-month low of $57.85 and a 12-month high of $74.24.
Rio Tinto Group Increases Dividend
The business also recently disclosed a semi-annual dividend, which will be paid on Thursday, April 17th. Stockholders of record on Friday, March 7th will be issued a $2.23 dividend. The ex-dividend date is Friday, March 7th. This is a boost from Rio Tinto Group’s previous semi-annual dividend of $1.77. This represents a dividend yield of 7%. Rio Tinto Group’s dividend payout ratio (DPR) is 69.15%.
Wall Street Analyst Weigh In
RIO has been the subject of a number of recent research reports. Jefferies Financial Group lowered their price objective on shares of 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. StockNews.com downgraded shares of Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a research report on Saturday, February 22nd. Finally, Clarkson Capital raised shares of Rio Tinto Group to a “strong-buy” rating in a research report on Friday, February 28th. Three investment analysts have rated the stock with a hold rating, four have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $73.00.
Get Our Latest Report on RIO
Rio 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.
See Also
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