WealthTrust Axiom LLC Lowers Stock Position in Rio Tinto Group (NYSE:RIO)

WealthTrust Axiom LLC cut its position in shares of Rio Tinto Group (NYSE:RIO) by 3.8% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 12,186 shares of the mining company’s stock after selling 477 shares during the quarter. WealthTrust Axiom LLC’s holdings in Rio Tinto Group were worth $907,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in RIO. SG Americas Securities LLC raised its position in Rio Tinto Group by 44.9% during the third quarter. SG Americas Securities LLC now owns 16,243 shares of the mining company’s stock worth $1,034,000 after acquiring an additional 5,034 shares during the period. Simplicity Solutions LLC raised its position in shares of Rio Tinto Group by 6.2% in the third quarter. Simplicity Solutions LLC now owns 5,017 shares of the mining company’s stock valued at $319,000 after buying an additional 294 shares during the last quarter. Valeo Financial Advisors LLC raised its position in shares of Rio Tinto Group by 96.8% in the third quarter. Valeo Financial Advisors LLC now owns 8,087 shares of the mining company’s stock valued at $515,000 after buying an additional 3,978 shares during the last quarter. Commonwealth Equity Services LLC raised its position in shares of Rio Tinto Group by 0.7% in the third quarter. Commonwealth Equity Services LLC now owns 197,915 shares of the mining company’s stock valued at $12,595,000 after buying an additional 1,374 shares during the last quarter. Finally, Sweet Financial Partners LLC raised its position in shares of Rio Tinto Group by 27.6% in the third quarter. Sweet Financial Partners LLC now owns 11,862 shares of the mining company’s stock valued at $755,000 after buying an additional 2,563 shares during the last quarter. 19.33% of the stock is owned by hedge funds and other institutional investors.

Rio Tinto Group Trading Down 1.5 %

RIO stock traded down $1.05 during mid-day trading on Tuesday, hitting $67.96. 2,287,284 shares of the company were exchanged, compared to its average volume of 2,968,030. 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 firm has a market capitalization of $85.12 billion, a P/E ratio of 9.54, a PEG ratio of 3.12 and a beta of 0.70. The business has a fifty day simple moving average of $64.86 and a 200-day simple moving average of $67.38. 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 business also recently announced a semi-annual dividend, which was paid on Thursday, April 18th. Shareholders of record on Friday, March 8th were paid a dividend of $2.58 per share. This represents a yield of 6.6%. 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. Rio Tinto Group’s dividend payout ratio (DPR) is 72.23%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on RIO shares. Liberum Capital reiterated a “hold” rating on shares of Rio Tinto Group in a research report on Tuesday, March 5th. 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 for the company. Finally, StockNews.com upgraded shares of Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a research report on Monday. Two equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus 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.