Fulton Bank N.A. boosted its stake in Rio Tinto Group (NYSE:RIO – Get Rating) by 25.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 5,577 shares of the mining company’s stock after purchasing an additional 1,115 shares during the quarter. Fulton Bank N.A.’s holdings in Rio Tinto Group were worth $397,000 as of its most recent SEC filing.
Other large investors have also recently made changes to their positions in the company. Commonwealth Equity Services LLC lifted its stake in shares of Rio Tinto Group by 15.6% in the third quarter. Commonwealth Equity Services LLC now owns 169,344 shares of the mining company’s stock valued at $9,324,000 after buying an additional 22,821 shares in the last quarter. IFP Advisors Inc lifted its position in shares of Rio Tinto Group by 10.9% during the third quarter. IFP Advisors Inc now owns 6,952 shares of the mining company’s stock valued at $411,000 after purchasing an additional 682 shares in the last quarter. New Millennium Group LLC bought a new position in shares of Rio Tinto Group during the second quarter valued at about $43,000. Old North State Trust LLC bought a new position in shares of Rio Tinto Group during the third quarter valued at about $148,000. Finally, WNY Asset Management LLC bought a new position in shares of Rio Tinto Group during the third quarter valued at about $378,000. 10.43% of the stock is owned by institutional investors.
Analysts Set New Price Targets
RIO has been the topic of a number of recent analyst reports. Morgan Stanley raised their price target on shares of Rio Tinto Group from GBX 5,750 ($70.08) to GBX 5,790 ($70.57) in a research report on Monday, January 23rd. StockNews.com began coverage on shares of Rio Tinto Group in a research report on Thursday. They issued a “buy” rating on the stock. BNP Paribas lowered shares of Rio Tinto Group from an “outperform” rating to a “neutral” rating in a research report on Monday, February 13th. Citigroup lowered shares of Rio Tinto Group from a “buy” rating to a “neutral” rating in a research report on Thursday, December 1st. Finally, Barclays raised shares of Rio Tinto Group from an “underweight” rating to an “equal weight” rating in a research report on Thursday, January 12th. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $5,790.00.
Rio Tinto Group Trading Down 0.1 %
Rio Tinto Group Cuts Dividend
The firm also recently announced a semi-annual dividend, which will be paid on Thursday, April 20th. Stockholders of record on Friday, March 10th will be paid a $2.25 dividend. The ex-dividend date is Thursday, March 9th. This represents a dividend yield of 9.8%.
Rio Tinto Group Profile
Rio Tinto Plc engages in the exploration, mining, and processing of mineral resources. It operates through the following business segments: Iron Ore, Aluminium, Copper and Diamonds, Energy and Minerals, and Other Operations. The Iron Ore segment supplies global seaborne iron ore trade. The Aluminium segment produces bauxite, alumina and primary aluminum.
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