Rio Tinto Group (NYSE:RIO) Shares Acquired by Gallacher Capital Management LLC

Gallacher Capital Management LLC increased its stake in Rio Tinto Group (NYSE:RIO) by 4.1% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 5,539 shares of the mining company’s stock after acquiring an additional 220 shares during the period. Gallacher Capital Management LLC’s holdings in Rio Tinto Group were worth $326,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Rakuten Securities Inc. boosted its position in shares of Rio Tinto Group by 74.8% in the fourth quarter. Rakuten Securities Inc. now owns 493 shares of the mining company’s stock worth $29,000 after acquiring an additional 211 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. lifted its position in Rio Tinto Group by 63.9% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 500 shares of the mining company’s stock valued at $29,000 after buying an additional 195 shares in the last quarter. Golden State Wealth Management LLC acquired a new position in Rio Tinto Group during the fourth quarter valued at approximately $47,000. HHM Wealth Advisors LLC acquired a new position in Rio Tinto Group during the fourth quarter valued at approximately $50,000. Finally, Newbridge Financial Services Group Inc. acquired a new position in Rio Tinto Group during the fourth quarter valued at approximately $59,000. 19.33% of the stock is owned by institutional investors and hedge funds.

Rio Tinto Group Trading Up 3.1 %

NYSE RIO opened at $63.08 on Monday. The company’s fifty day simple moving average is $61.43 and its 200-day simple moving average is $62.84. Rio Tinto Group has a 52 week low of $57.85 and a 52 week high of $74.24. The company has a current ratio of 1.63, a quick ratio of 1.16 and a debt-to-equity ratio of 0.23. The stock has a market cap of $79.04 billion, a P/E ratio of 9.78, a PEG ratio of 0.42 and a beta of 0.60.

Rio Tinto Group Increases Dividend

The company also recently announced a semi-annual dividend, which will be paid on Thursday, April 17th. Stockholders of record on Friday, March 7th will be given a dividend of $2.23 per share. This is a boost from Rio Tinto Group’s previous semi-annual dividend of $1.77. This represents a dividend yield of 7%. The ex-dividend date of this dividend is Friday, March 7th. Rio Tinto Group’s payout ratio is presently 69.15%.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Jefferies Financial Group reduced their price target on shares of 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. 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. Finally, Clarkson Capital raised shares of Rio Tinto Group to a “strong-buy” rating in a research report on Friday, February 28th. Three analysts have rated the stock with a hold rating, four have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $73.00.

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.