Sigma Planning Corp Reduces Stock Holdings in Rio Tinto Group (NYSE:RIO)

Sigma Planning Corp trimmed its position in Rio Tinto Group (NYSE:RIO) by 56.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,752 shares of the mining company’s stock after selling 3,636 shares during the period. Sigma Planning Corp’s holdings in Rio Tinto Group were worth $205,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently modified their holdings of the company. AdvisorNet Financial Inc raised its holdings in Rio Tinto Group by 785.7% in the 4th quarter. AdvisorNet Financial Inc now owns 372 shares of the mining company’s stock worth $28,000 after purchasing an additional 330 shares during the period. SouthState Corp acquired a new position in Rio Tinto Group during the third quarter worth $32,000. Financial Management Professionals Inc. grew its position in Rio Tinto Group by 250.6% in the 4th quarter. Financial Management Professionals Inc. now owns 617 shares of the mining company’s stock valued at $46,000 after acquiring an additional 441 shares in the last quarter. Bruce G. Allen Investments LLC purchased a new stake in Rio Tinto Group during the 4th quarter worth approximately $47,000. Finally, NBC Securities Inc. purchased a new position in Rio Tinto Group in the third quarter valued at $59,000. 19.33% of the stock is currently owned by hedge funds and other institutional investors.

Rio Tinto Group Trading Up 1.1 %

Shares of NYSE:RIO opened at $69.02 on Tuesday. The business has a fifty day simple moving average of $64.86 and a 200-day simple moving average of $67.38. Rio Tinto Group has a 52 week low of $58.27 and a 52 week high of $75.09. 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 Increases Dividend

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

Wall Street Analysts Forecast Growth

RIO has been the subject of several research reports. The Goldman Sachs Group began coverage on Rio Tinto Group in a report on Friday, January 12th. They issued a “buy” rating for the company. Liberum Capital restated a “hold” rating on shares of Rio Tinto Group in a research report on Tuesday, March 5th. Finally, StockNews.com upgraded Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a research report on Monday. Two research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $72.00.

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.