Prime Capital Investment Advisors LLC Purchases 17,952 Shares of Rio Tinto Group (NYSE:RIO)

Prime Capital Investment Advisors LLC grew its position in Rio Tinto Group (NYSE:RIO) by 124.3% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 32,391 shares of the mining company’s stock after purchasing an additional 17,952 shares during the quarter. Prime Capital Investment Advisors LLC’s holdings in Rio Tinto Group were worth $2,412,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the company. Dana Investment Advisors Inc. boosted its stake in shares of Rio Tinto Group by 0.5% in the 3rd quarter. Dana Investment Advisors Inc. now owns 29,483 shares of the mining company’s stock valued at $1,876,000 after purchasing an additional 150 shares during the last quarter. Ambassador Advisors LLC boosted its stake in shares of Rio Tinto Group by 3.6% in the 4th quarter. Ambassador Advisors LLC now owns 4,398 shares of the mining company’s stock valued at $313,000 after purchasing an additional 153 shares during the last quarter. Pinnacle Wealth Planning Services Inc. boosted its stake in shares of Rio Tinto Group by 1.8% in the 3rd quarter. Pinnacle Wealth Planning Services Inc. now owns 9,674 shares of the mining company’s stock valued at $616,000 after purchasing an additional 172 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC boosted its stake in shares of Rio Tinto Group by 2.4% in the 3rd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 7,428 shares of the mining company’s stock valued at $473,000 after purchasing an additional 172 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC boosted its stake in Rio Tinto Group by 1.3% during the first quarter. Steward Partners Investment Advisory LLC now owns 13,815 shares of the mining company’s stock worth $948,000 after acquiring an additional 174 shares in the last quarter. 19.33% of the stock is owned by institutional investors.

Rio Tinto Group Stock Performance

RIO opened at $63.00 on Monday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.17 and a current ratio of 1.69. The company’s fifty day moving average price is $65.36 and its two-hundred day moving average price is $66.87. Rio Tinto Group has a 1-year low of $58.27 and a 1-year high of $75.09.

Rio Tinto Group Increases Dividend

The firm also recently disclosed a semi-annual dividend, which will be paid on Thursday, April 18th. Shareholders of record on Friday, March 8th will be issued a dividend of $2.58 per share. This is an increase from Rio Tinto Group’s previous semi-annual dividend of $1.77. The ex-dividend date of this dividend is Thursday, March 7th. This represents a yield of 6.6%.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. The Goldman Sachs Group assumed coverage on shares of Rio Tinto Group in a research note on Friday, January 12th. They set a “buy” rating on the stock. StockNews.com raised shares of Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, March 27th. Finally, Liberum Capital reissued a “hold” rating on shares of Rio Tinto Group in a research note on Tuesday, March 5th. Two analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Rio Tinto Group has an average rating of “Moderate Buy” and an average price target of $72.00.

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.