Ashburton Jersey Ltd Raises Stock Position in Rio Tinto Group (NYSE:RIO)

Ashburton Jersey Ltd increased its holdings in shares of Rio Tinto Group (NYSE:RIO) by 34.9% during the 4th quarter, Holdings Channel reports. The institutional investor owned 4,266 shares of the mining company’s stock after purchasing an additional 1,104 shares during the period. Ashburton Jersey Ltd’s holdings in Rio Tinto Group were worth $318,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Fisher Asset Management LLC boosted its holdings in Rio Tinto Group by 3.1% in the fourth quarter. Fisher Asset Management LLC now owns 16,045,541 shares of the mining company’s stock valued at $1,194,751,000 after purchasing an additional 475,329 shares during the last quarter. First Trust Direct Indexing L.P. raised its holdings in Rio Tinto Group by 68.2% in the 4th quarter. First Trust Direct Indexing L.P. now owns 22,300 shares of the mining company’s stock worth $1,660,000 after purchasing an additional 9,044 shares during the period. Hexagon Capital Partners LLC boosted its position in Rio Tinto Group by 66.8% during the fourth quarter. Hexagon Capital Partners LLC now owns 3,859 shares of the mining company’s stock worth $287,000 after purchasing an additional 1,546 shares in the last quarter. Brighton Jones LLC purchased a new position in Rio Tinto Group during the fourth quarter worth approximately $400,000. Finally, Mission Wealth Management LP grew its holdings in Rio Tinto Group by 27.7% in the fourth quarter. Mission Wealth Management LP now owns 5,595 shares of the mining company’s stock valued at $417,000 after purchasing an additional 1,213 shares during the period. 19.33% of the stock is owned by hedge funds and other institutional investors.

Rio Tinto Group Stock Performance

NYSE:RIO traded up $0.38 on Thursday, reaching $67.88. 895,802 shares of the company’s stock were exchanged, compared to its average volume of 2,948,186. 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. The business has a fifty day moving average of $64.94 and a 200-day moving average of $67.42.

Rio Tinto Group Increases Dividend

The company also recently announced a semi-annual dividend, which was paid on Thursday, April 18th. Investors of record on Friday, March 8th were issued a $2.58 dividend. This is a boost from Rio Tinto Group’s previous semi-annual dividend of $1.77. The ex-dividend date was Thursday, March 7th. This represents a yield of 6.6%.

Wall Street Analyst Weigh In

RIO has been the topic of a number of research analyst reports. StockNews.com raised shares of Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a research note on Monday. Liberum Capital restated a “hold” rating on shares of Rio Tinto Group in a research report on Tuesday, March 5th. Finally, The Goldman Sachs Group began coverage on Rio Tinto Group in a research report on Friday, January 12th. They set 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 company. According to data from MarketBeat, Rio Tinto Group presently has an average rating of “Moderate Buy” and a consensus price target of $72.00.

About Rio Tinto Group

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.