Recurrent Investment Advisors LLC Cuts Stake in Rio Tinto Group (NYSE:RIO)

Recurrent Investment Advisors LLC trimmed its position in shares of Rio Tinto Group (NYSE:RIO) by 6.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 14,704 shares of the mining company’s stock after selling 1,012 shares during the quarter. Recurrent Investment Advisors LLC’s holdings in Rio Tinto Group were worth $865,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in RIO. Deutsche Bank AG raised its stake in shares of Rio Tinto Group by 143,872.8% during the 4th quarter. Deutsche Bank AG now owns 1,264,081 shares of the mining company’s stock worth $74,341,000 after buying an additional 1,263,203 shares in the last quarter. Dynamo Internacional Gestao DE Recursos LTDA. raised its position in Rio Tinto Group by 119.2% in the fourth quarter. Dynamo Internacional Gestao DE Recursos LTDA. now owns 129,804 shares of the mining company’s stock worth $2,423,000 after acquiring an additional 807,610 shares in the last quarter. Paloma Partners Management Co purchased a new position in Rio Tinto Group in the fourth quarter worth $40,032,000. Palliser Capital UK Ltd lifted its holdings in Rio Tinto Group by 213.8% in the fourth quarter. Palliser Capital UK Ltd now owns 989,417 shares of the mining company’s stock valued at $58,188,000 after acquiring an additional 674,117 shares during the period. Finally, Raymond James Financial Inc. purchased a new position in shares of Rio Tinto Group in the 4th quarter valued at about $29,606,000. 19.33% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Clarkson Capital upgraded shares of Rio Tinto Group to a “strong-buy” rating in a research report on Friday, February 28th. Barclays restated an “overweight” rating on shares of Rio Tinto Group in a report on Wednesday, April 16th. DZ Bank upgraded Rio Tinto Group from a “hold” rating to a “strong-buy” rating in a research report on Thursday, March 27th. Morgan Stanley cut shares of Rio Tinto Group from an “overweight” rating to an “equal weight” rating in a research report on Wednesday, April 9th. Finally, StockNews.com downgraded Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a research report on Monday, April 28th. Four equities research analysts have rated the stock with a hold rating, six have issued a buy rating and three have issued a strong buy rating to the company. According to MarketBeat.com, Rio Tinto Group currently has an average rating of “Moderate Buy” and a consensus target price of $73.00.

Rio Tinto Group Price Performance

Shares of NYSE:RIO opened at $62.04 on Thursday. The company has a quick ratio of 1.16, a current ratio of 1.63 and a debt-to-equity ratio of 0.23. The company has a market cap of $77.80 billion, a P/E ratio of 9.62, a P/E/G ratio of 0.42 and a beta of 0.73. The business has a fifty day simple moving average of $59.68 and a 200-day simple moving average of $61.09. Rio Tinto Group has a 52 week low of $51.67 and a 52 week high of $74.24.

Rio Tinto Group Increases Dividend

The business also recently declared a semi-annual dividend, which was paid on Thursday, April 17th. Investors of record on Friday, March 7th were given a dividend of $2.23 per share. This is a positive change from Rio Tinto Group’s previous semi-annual dividend of $1.77. The ex-dividend date was Friday, March 7th. This represents a yield of 7%. Rio Tinto Group’s dividend payout ratio is 69.15%.

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.