Amundi Reduces Holdings in Rio Tinto Group (NYSE:RIO)

Amundi reduced its holdings in shares of Rio Tinto Group (NYSE:RIO) by 8.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 71,255 shares of the mining company’s stock after selling 6,175 shares during the period. Amundi’s holdings in Rio Tinto Group were worth $4,178,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in RIO. Jeppson Wealth Management LLC raised its holdings in Rio Tinto Group by 47.5% in the 4th quarter. Jeppson Wealth Management LLC now owns 20,093 shares of the mining company’s stock worth $1,182,000 after purchasing an additional 6,473 shares during the period. Fisher Asset Management LLC lifted its position in shares of Rio Tinto Group by 2.9% during the 3rd quarter. Fisher Asset Management LLC now owns 17,528,095 shares of the mining company’s stock valued at $1,247,475,000 after buying an additional 485,731 shares in the last quarter. Northwest Bancshares Inc. bought a new position in shares of Rio Tinto Group during the 3rd quarter valued at approximately $1,440,000. Barclays PLC increased its holdings in 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 in the last quarter. Finally, Marshall Financial Group LLC bought a new stake in Rio Tinto Group during the 4th quarter worth approximately $810,000. 19.33% of the stock is currently owned by institutional investors.

Rio Tinto Group Stock Performance

Shares of NYSE RIO opened at $63.08 on Friday. The company has a market cap of $79.04 billion, a P/E ratio of 9.78, a P/E/G ratio of 0.42 and a beta of 0.60. Rio Tinto Group has a 52-week low of $57.85 and a 52-week high of $74.24. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.16 and a current ratio of 1.63. The firm’s fifty day moving average is $61.43 and its two-hundred day moving average is $62.84.

Rio Tinto Group Increases Dividend

The company 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. This is an increase from Rio Tinto Group’s previous semi-annual dividend of $1.77. This represents a dividend yield of 7%. The ex-dividend date is Friday, March 7th. Rio Tinto Group’s payout ratio is currently 69.15%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on RIO shares. StockNews.com cut shares of Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a research note on Saturday, February 22nd. Clarkson Capital upgraded Rio Tinto Group to a “strong-buy” rating in a research note on Friday, February 28th. Finally, Jefferies Financial Group lowered their price objective 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. Three investment analysts have rated the stock with a hold rating, four have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Rio Tinto Group has an average rating of “Moderate Buy” and a consensus target price of $73.00.

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.