Rio Tinto Group (NYSE:RIO) Shares Sold by LSV Asset Management

LSV Asset Management decreased its position in Rio Tinto Group (NYSE:RIO) by 12.0% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 52,700 shares of the mining company’s stock after selling 7,200 shares during the period. LSV Asset Management’s holdings in Rio Tinto Group were worth $3,924,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Brown Advisory Inc. raised its position in Rio Tinto Group by 59.5% during the third quarter. Brown Advisory Inc. now owns 10,539 shares of the mining company’s stock worth $671,000 after acquiring an additional 3,930 shares during the last quarter. Park Avenue Securities LLC lifted its stake in Rio Tinto Group by 11.5% in the 3rd quarter. Park Avenue Securities LLC now owns 13,670 shares of the mining company’s stock valued at $870,000 after buying an additional 1,405 shares in the last quarter. Whittier Trust Co. grew its holdings in Rio Tinto Group by 13.8% during the 3rd quarter. Whittier Trust Co. now owns 16,316 shares of the mining company’s stock valued at $1,038,000 after buying an additional 1,977 shares during the last quarter. TD Asset Management Inc increased its position in Rio Tinto Group by 2.4% during the third quarter. TD Asset Management Inc now owns 786,791 shares of the mining company’s stock worth $50,071,000 after buying an additional 18,505 shares in the last quarter. Finally, Patten & Patten Inc. TN raised its holdings in shares of Rio Tinto Group by 5.0% in the third quarter. Patten & Patten Inc. TN now owns 4,138 shares of the mining company’s stock worth $263,000 after acquiring an additional 198 shares during the last quarter. Hedge funds and other institutional investors own 19.33% of the company’s stock.

Rio Tinto Group Stock Performance

Rio Tinto Group stock opened at $69.02 on Thursday. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.69 and a quick ratio of 1.17. The firm has a fifty day moving average of $65.26 and a 200-day moving average of $67.64. Rio Tinto Group has a 52-week low of $58.27 and a 52-week 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. Shareholders of record on Friday, March 8th were given a $2.58 dividend. The ex-dividend date was Thursday, March 7th. This is a positive change from Rio Tinto Group’s previous semi-annual dividend of $1.77. This represents a yield of 6.6%.

Analyst Ratings Changes

A number of research firms recently commented on RIO. StockNews.com upgraded Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a research report on Monday, April 29th. The Goldman Sachs Group started coverage on shares of Rio Tinto Group in a research report on Friday, January 12th. They issued a “buy” rating on the stock. Finally, Liberum Capital reaffirmed a “hold” rating on shares of Rio Tinto Group in a research report on Tuesday, March 5th. Two analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Rio Tinto Group has a consensus 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.