Rio Tinto Group (NYSE:RIO) Position Lifted by Brown Brothers Harriman & Co.

Brown Brothers Harriman & Co. raised its stake in Rio Tinto Group (NYSE:RIO) by 148.5% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 2,092 shares of the mining company’s stock after purchasing an additional 1,250 shares during the period. Brown Brothers Harriman & Co.’s holdings in Rio Tinto Group were worth $123,000 as of its most recent SEC filing.

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

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. DZ Bank upgraded Rio Tinto Group from a “hold” rating to a “strong-buy” rating in a research note on Thursday, March 27th. JPMorgan Chase & Co. began coverage on shares of Rio Tinto Group in a research report on Tuesday, March 18th. They set an “overweight” rating for the company. Jefferies Financial Group cut their price objective 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. Clarkson Capital upgraded shares of Rio Tinto Group to a “strong-buy” rating in a research report on Friday, February 28th. Finally, StockNews.com cut Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a report on Saturday, February 22nd. Three 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. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $73.00.

Rio Tinto Group Trading Up 0.4 %

Shares of RIO stock opened at $60.29 on Wednesday. Rio Tinto Group has a 12 month low of $57.85 and a 12 month high of $74.24. The company has a market cap of $75.61 billion, a PE ratio of 9.35, a price-to-earnings-growth ratio of 0.42 and a beta of 0.60. The company has a quick ratio of 1.16, a current ratio of 1.63 and a debt-to-equity ratio of 0.23. The business’s 50 day moving average is $62.06 and its two-hundred day moving average is $62.93.

Rio Tinto Group Increases Dividend

The firm also recently disclosed a semi-annual dividend, which will be paid on Thursday, April 17th. Stockholders of record on Friday, March 7th will be given a $2.23 dividend. This represents a dividend yield of 7%. This is a boost 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 is currently 69.15%.

About Rio Tinto Group

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.