Sprott Inc. Buys 3,901 Shares of Rio Tinto Group (NYSE:RIO)

Sprott Inc. increased its stake in shares of Rio Tinto Group (NYSE:RIO) by 77.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,922 shares of the mining company’s stock after purchasing an additional 3,901 shares during the quarter. Sprott Inc.’s holdings in Rio Tinto Group were worth $525,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Thurston Springer Miller Herd & Titak Inc. lifted its position in shares of 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 during the last quarter. Golden State Wealth Management LLC bought a new position in shares of Rio Tinto Group during the 4th quarter worth approximately $47,000. HHM Wealth Advisors LLC purchased a new stake in Rio Tinto Group during the fourth quarter valued at approximately $50,000. Hara Capital LLC acquired a new stake in Rio Tinto Group in the third quarter valued at approximately $53,000. Finally, Nisa Investment Advisors LLC grew its holdings in Rio Tinto Group by 49.1% in the third quarter. Nisa Investment Advisors LLC now owns 820 shares of the mining company’s stock worth $58,000 after purchasing an additional 270 shares during the last quarter. Institutional investors own 19.33% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently commented on the company. StockNews.com lowered Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a report on Saturday. Jefferies Financial Group decreased their price target on Rio Tinto Group from $83.00 to $73.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Four analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $73.00.

Rio Tinto Group Price Performance

Shares of RIO opened at $62.09 on Wednesday. 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 company’s fifty day moving average price is $60.65 and its 200-day moving average price is $62.93. Rio Tinto Group has a 1-year low of $57.85 and a 1-year high of $74.24. The firm has a market capitalization of $77.80 billion, a PE ratio of 9.63, a price-to-earnings-growth ratio of 0.42 and a beta of 0.65.

Rio Tinto Group Increases Dividend

The company also recently declared a semi-annual dividend, which will be paid on Thursday, April 17th. Shareholders of record on Friday, March 7th will be paid a dividend of $2.23 per share. This represents a yield of 7%. The ex-dividend date of this dividend is Friday, March 7th. This is an increase from Rio Tinto Group’s previous semi-annual dividend of $1.77. Rio Tinto Group’s payout ratio is presently 54.73%.

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.