Cambridge Trust Co. Has $7.66 Million Position in Rio Tinto Group (NYSE:RIO)

Cambridge Trust Co. reduced its holdings in shares of Rio Tinto Group (NYSE:RIO) by 62.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 102,838 shares of the mining company’s stock after selling 174,725 shares during the period. Cambridge Trust Co.’s holdings in Rio Tinto Group were worth $7,657,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. AdvisorNet Financial Inc grew its holdings in Rio Tinto Group by 785.7% during the 4th quarter. AdvisorNet Financial Inc now owns 372 shares of the mining company’s stock worth $28,000 after acquiring an additional 330 shares during the period. Householder Group Estate & Retirement Specialist LLC acquired a new stake in Rio Tinto Group during the 3rd quarter worth about $27,000. First Manhattan Co. grew its holdings in Rio Tinto Group by 555.4% during the 4th quarter. First Manhattan Co. now owns 426 shares of the mining company’s stock worth $30,000 after acquiring an additional 361 shares during the period. SouthState Corp acquired a new stake in shares of Rio Tinto Group in the 3rd quarter valued at about $32,000. Finally, Financial Management Professionals Inc. grew its stake in shares of 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 buying an additional 441 shares during the period. 19.33% of the stock is currently owned by institutional investors and hedge funds.

Rio Tinto Group Stock Down 0.6 %

NYSE RIO traded down $0.43 during trading hours on Thursday, hitting $66.35. The company’s stock had a trading volume of 2,442,375 shares, compared to its average volume of 2,955,258. Rio Tinto Group has a 52 week low of $58.27 and a 52 week high of $75.09. 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 company’s 50-day simple moving average is $64.92 and its two-hundred day simple moving average is $67.02.

Rio Tinto Group Increases Dividend

The firm also recently declared a semi-annual dividend, which will be paid on Thursday, April 18th. Investors of record on Friday, March 8th will be given a $2.58 dividend. This is a boost from Rio Tinto Group’s previous semi-annual dividend of $1.77. The ex-dividend date of this dividend is Thursday, March 7th. This represents a yield of 6.6%.

Analysts Set New Price Targets

RIO has been the subject of several research reports. Liberum Capital restated a “hold” rating on shares of Rio Tinto Group in a research note on Tuesday, March 5th. StockNews.com upgraded Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a research note on Thursday. Finally, The Goldman Sachs Group initiated coverage on Rio Tinto Group in a research note on Friday, January 12th. They issued a “buy” rating for the company. Two investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently 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.