Natixis Advisors LLC Boosts Stake in Rio Tinto Group (NYSE:RIO)

Natixis Advisors LLC increased its stake in shares of Rio Tinto Group (NYSE:RIO) by 11.2% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 763,952 shares of the mining company’s stock after purchasing an additional 77,130 shares during the period. Natixis Advisors LLC owned approximately 0.06% of Rio Tinto Group worth $44,928,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in RIO. Oppenheimer & Co. Inc. boosted its position in shares of Rio Tinto Group by 6.8% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 38,586 shares of the mining company’s stock worth $2,746,000 after purchasing an additional 2,459 shares during the period. Huntington National Bank boosted its position in shares of Rio Tinto Group by 11.3% during the 3rd quarter. Huntington National Bank now owns 2,345 shares of the mining company’s stock worth $167,000 after purchasing an additional 239 shares during the period. Empowered Funds LLC boosted its position in shares of Rio Tinto Group by 13.7% during the 3rd quarter. Empowered Funds LLC now owns 3,567 shares of the mining company’s stock worth $254,000 after purchasing an additional 431 shares during the period. Thrivent Financial for Lutherans boosted its position in shares of Rio Tinto Group by 11.1% during the 3rd quarter. Thrivent Financial for Lutherans now owns 30,275 shares of the mining company’s stock worth $2,155,000 after purchasing an additional 3,017 shares during the period. Finally, Baron Wealth Management LLC purchased a new position in shares of Rio Tinto Group during the 3rd quarter worth approximately $202,000. Hedge funds and other institutional investors own 19.33% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on RIO shares. Clarkson Capital raised shares of Rio Tinto Group to a “strong-buy” rating in a research report on Friday, February 28th. Jefferies Financial Group decreased their price target 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. Finally, StockNews.com cut shares of Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a research report on Saturday, February 22nd. Three investment analysts have rated the stock with a hold rating, four have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $73.00.

Rio Tinto Group Price Performance

Shares of RIO opened at $63.08 on Monday. Rio Tinto Group has a twelve month low of $57.85 and a twelve month high of $74.24. The firm’s fifty day simple moving average is $61.43 and its 200-day simple moving average is $62.84. The firm has a market capitalization of $79.04 billion, a price-to-earnings ratio of 9.78, a PEG ratio of 0.42 and a beta of 0.60. The company has a current ratio of 1.63, a quick ratio of 1.16 and a debt-to-equity ratio of 0.23.

Rio Tinto Group Increases Dividend

The company 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. This represents a dividend yield of 7%. This is a positive change from Rio Tinto Group’s previous semi-annual dividend of $1.77. The ex-dividend date of this dividend is Friday, March 7th. Rio Tinto Group’s dividend payout ratio (DPR) is presently 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.