Sapient Capital LLC Buys New Position in Rio Tinto Group (NYSE:RIO)

Sapient Capital LLC purchased a new position in shares of Rio Tinto Group (NYSE:RIO) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 5,687 shares of the mining company’s stock, valued at approximately $423,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. AdvisorNet Financial Inc lifted its holdings in Rio Tinto Group by 785.7% in the fourth quarter. AdvisorNet Financial Inc now owns 372 shares of the mining company’s stock valued at $28,000 after buying an additional 330 shares during the period. Householder Group Estate & Retirement Specialist LLC acquired a new position in shares of Rio Tinto Group in the 3rd quarter valued at about $27,000. First Manhattan Co. boosted its position in shares of Rio Tinto Group by 555.4% during the 4th quarter. First Manhattan Co. now owns 426 shares of the mining company’s stock valued at $30,000 after purchasing an additional 361 shares in the last quarter. SouthState Corp acquired a new stake in Rio Tinto Group during the third quarter worth approximately $32,000. Finally, Financial Management Professionals Inc. grew its stake in Rio Tinto Group by 250.6% during the fourth quarter. Financial Management Professionals Inc. now owns 617 shares of the mining company’s stock worth $46,000 after purchasing an additional 441 shares during the period. Institutional investors and hedge funds own 19.33% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on RIO shares. The Goldman Sachs Group assumed coverage on Rio Tinto Group in a report on Friday, January 12th. They set a “buy” rating on the stock. StockNews.com cut shares of Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a report on Wednesday, April 10th. Finally, Liberum Capital reaffirmed a “hold” rating on shares of Rio Tinto Group in a research note on Tuesday, March 5th. Two equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, Rio Tinto Group has a consensus rating of “Moderate Buy” and an average price target of $72.00.

Rio Tinto Group Trading Down 0.4 %

Shares of NYSE RIO opened at $65.99 on Monday. The company has a quick ratio of 1.17, a current ratio of 1.69 and a debt-to-equity ratio of 0.23. Rio Tinto Group has a fifty-two week low of $58.27 and a fifty-two week high of $75.09. The firm’s 50-day simple moving average is $65.02 and its 200 day simple moving average is $66.99.

Rio Tinto Group Increases Dividend

The business also recently announced a semi-annual dividend, which will be paid on Thursday, April 18th. Stockholders of record on Friday, March 8th will be issued a $2.58 dividend. This represents a dividend yield of 6.6%. The ex-dividend date is Thursday, March 7th. This is a positive change from Rio Tinto Group’s previous semi-annual dividend of $1.77.

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.