Rio Tinto Group (NYSE:RIO) Shares Purchased by Fisher Asset Management LLC

Fisher Asset Management LLC lifted its position in shares of Rio Tinto Group (NYSE:RIO) by 3.1% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 16,045,541 shares of the mining company’s stock after buying an additional 475,329 shares during the quarter. Fisher Asset Management LLC’s holdings in Rio Tinto Group were worth $1,194,751,000 at the end of the most recent quarter.

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

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Liberum Capital reaffirmed a “hold” rating on shares of Rio Tinto Group in a report on Tuesday, March 5th. The Goldman Sachs Group assumed coverage on Rio Tinto Group in a research note on Friday, January 12th. They issued a “buy” rating for the company. Finally, StockNews.com upgraded shares of Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a research note on Monday. Two analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Rio Tinto Group has a consensus rating of “Moderate Buy” and an average target price of $72.00.

Rio Tinto Group Price Performance

NYSE RIO traded up $0.49 on Thursday, hitting $67.99. 833,905 shares of the stock traded hands, compared to its average volume of 2,946,460. 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 business’s fifty day moving average is $64.94 and its two-hundred day moving average is $67.42. 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 firm also recently disclosed a semi-annual dividend, which was paid on Thursday, April 18th. Investors of record on Friday, March 8th were paid a $2.58 dividend. This represents a yield of 6.6%. This is a positive change from Rio Tinto Group’s previous semi-annual dividend of $1.77. The ex-dividend date was Thursday, March 7th.

Rio Tinto Group Company 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.