Y Intercept Hong Kong Ltd Boosts Stock Position in Rio Tinto Group (NYSE:RIO)

Y Intercept Hong Kong Ltd raised its stake in shares of Rio Tinto Group (NYSE:RIO) by 197.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 20,590 shares of the mining company’s stock after buying an additional 13,669 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in Rio Tinto Group were worth $1,211,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC boosted its stake in Rio Tinto Group by 258.4% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 45,723 shares of the mining company’s stock worth $3,254,000 after purchasing an additional 32,965 shares in the last quarter. International Assets Investment Management LLC purchased a new position in Rio Tinto Group in the third quarter worth about $9,577,000. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Rio Tinto Group by 27.3% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 59,933 shares of the mining company’s stock worth $4,265,000 after buying an additional 12,861 shares in the last quarter. Nisa Investment Advisors LLC grew its holdings in shares of Rio Tinto Group by 49.1% during the third quarter. Nisa Investment Advisors LLC now owns 820 shares of the mining company’s stock valued at $58,000 after buying an additional 270 shares during the last quarter. Finally, Eagle Strategies LLC increased its position in shares of Rio Tinto Group by 3.4% during the third quarter. Eagle Strategies LLC now owns 6,259 shares of the mining company’s stock valued at $445,000 after acquiring an additional 205 shares in the last quarter. Hedge funds and other institutional investors own 19.33% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. 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. StockNews.com downgraded Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a report on Saturday, February 22nd. Four investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Rio Tinto Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $73.00.

Rio Tinto Group Trading Down 0.9 %

NYSE:RIO opened at $61.56 on Thursday. The company has a market cap of $77.14 billion, a PE ratio of 9.54, a price-to-earnings-growth ratio of 0.42 and a beta of 0.65. 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 company has a 50 day simple moving average of $60.69 and a two-hundred day simple moving average of $62.92. Rio Tinto Group has a 12 month low of $57.85 and a 12 month high of $74.24.

Rio Tinto Group Increases Dividend

The company also recently disclosed a semi-annual dividend, which will be paid on Thursday, April 17th. Investors of record on Friday, March 7th will be issued a $2.23 dividend. The ex-dividend date is Friday, March 7th. This represents a dividend yield of 7%. This is a positive change from Rio Tinto Group’s previous semi-annual dividend of $1.77. Rio Tinto Group’s payout ratio is presently 69.15%.

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.