Y Intercept Hong Kong Ltd Acquires 13,669 Shares of Rio Tinto Group (NYSE:RIO)

Y Intercept Hong Kong Ltd grew its holdings in Rio Tinto Group (NYSE:RIO) by 197.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 20,590 shares of the mining company’s stock after acquiring an additional 13,669 shares during the period. Y Intercept Hong Kong Ltd’s holdings in Rio Tinto Group were worth $1,211,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Jeppson Wealth Management LLC raised its holdings in Rio Tinto Group by 47.5% in the 4th quarter. Jeppson Wealth Management LLC now owns 20,093 shares of the mining company’s stock worth $1,182,000 after purchasing an additional 6,473 shares during the period. Philip James Wealth Mangement LLC purchased a new stake in Rio Tinto Group in the third quarter worth about $1,345,000. Fisher Asset Management LLC raised its stake in shares of Rio Tinto Group by 2.9% in the third quarter. Fisher Asset Management LLC now owns 17,528,095 shares of the mining company’s stock worth $1,247,475,000 after buying an additional 485,731 shares during the period. Northwest Bancshares Inc. purchased a new position in shares of Rio Tinto Group during the 3rd quarter valued at about $1,440,000. Finally, Barclays PLC grew its stake in shares of Rio Tinto Group by 225.6% during the 3rd quarter. Barclays PLC now owns 335,637 shares of the mining company’s stock valued at $23,888,000 after acquiring an additional 232,539 shares during the period. Hedge funds and other institutional investors own 19.33% of the company’s stock.

Rio Tinto Group Stock Down 0.9 %

Shares of RIO opened at $61.56 on Thursday. The business’s 50 day moving average is $60.69 and its 200 day moving average is $62.92. The company has a current ratio of 1.63, a quick ratio of 1.16 and a debt-to-equity ratio of 0.23. Rio Tinto Group has a 12-month low of $57.85 and a 12-month high of $74.24. The company has a market capitalization of $77.14 billion, a PE ratio of 9.54, a price-to-earnings-growth ratio of 0.42 and a beta of 0.65.

Rio Tinto Group Increases Dividend

The business also recently disclosed a semi-annual dividend, which will be paid on Thursday, April 17th. Stockholders of record on Friday, March 7th will be given a dividend of $2.23 per share. The ex-dividend date is Friday, March 7th. This represents a dividend yield of 7%. This is a boost from Rio Tinto Group’s previous semi-annual dividend of $1.77. Rio Tinto Group’s dividend payout ratio (DPR) is presently 69.15%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. StockNews.com cut shares of Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a research note on Saturday, February 22nd. Jefferies Financial Group reduced their price objective on shares of Rio Tinto Group from $83.00 to $73.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Four research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $73.00.

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.