Rio Tinto Group (NYSE:RIO) Stock Position Increased by Atria Wealth Solutions Inc.

Atria Wealth Solutions Inc. lifted its stake in shares of Rio Tinto Group (NYSE:RIO) by 42.3% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 19,653 shares of the mining company’s stock after purchasing an additional 5,841 shares during the period. Atria Wealth Solutions Inc.’s holdings in Rio Tinto Group were worth $1,463,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of RIO. Schechter Investment Advisors LLC grew its stake in Rio Tinto Group by 10.9% in the third quarter. Schechter Investment Advisors LLC now owns 8,732 shares of the mining company’s stock valued at $556,000 after purchasing an additional 858 shares in the last quarter. International Assets Investment Management LLC acquired a new position in shares of Rio Tinto Group during the 4th quarter worth about $7,954,000. Sei Investments Co. lifted its position in shares of Rio Tinto Group by 18.3% during the 3rd quarter. Sei Investments Co. now owns 721,662 shares of the mining company’s stock worth $45,926,000 after purchasing an additional 111,623 shares during the last quarter. Morgan Stanley lifted its position in shares of Rio Tinto Group by 2.7% during the 3rd quarter. Morgan Stanley now owns 4,464,344 shares of the mining company’s stock worth $284,111,000 after purchasing an additional 118,706 shares during the last quarter. Finally, Kingswood Wealth Advisors LLC lifted its position in shares of Rio Tinto Group by 88.2% during the 4th quarter. Kingswood Wealth Advisors LLC now owns 8,221 shares of the mining company’s stock worth $612,000 after purchasing an additional 3,852 shares during the last quarter. 19.33% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently weighed in on RIO. StockNews.com raised Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a research report on Monday. Liberum Capital reaffirmed a “hold” rating on shares of Rio Tinto Group in a report on Tuesday, March 5th. Finally, 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. Two equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $72.00.

Rio Tinto Group Trading Down 1.7 %

Rio Tinto Group stock opened at $67.83 on Wednesday. The business has a 50 day moving average price of $64.90 and a two-hundred day moving average price of $67.42. 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 12 month low of $58.27 and a 12 month high of $75.09.

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 paid a $2.58 dividend. 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.

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.