QRG Capital Management Inc. Acquires 6,539 Shares of Rio Tinto Group (NYSE:RIO)

QRG Capital Management Inc. raised its holdings in Rio Tinto Group (NYSE:RIO) by 7.6% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 92,762 shares of the mining company’s stock after acquiring an additional 6,539 shares during the quarter. QRG Capital Management Inc.’s holdings in Rio Tinto Group were worth $5,455,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of RIO. Thurston Springer Miller Herd & Titak Inc. boosted its stake in shares of Rio Tinto Group by 63.9% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 500 shares of the mining company’s stock valued at $29,000 after purchasing an additional 195 shares during the period. Golden State Wealth Management LLC bought a new stake in Rio Tinto Group during the 4th quarter valued at about $47,000. HHM Wealth Advisors LLC purchased a new stake in Rio Tinto Group in the 4th quarter valued at about $50,000. Hara Capital LLC bought a new position in Rio Tinto Group in the 3rd quarter worth about $53,000. Finally, Nisa Investment Advisors LLC increased its position in shares of Rio Tinto Group by 49.1% during the third quarter. Nisa Investment Advisors LLC now owns 820 shares of the mining company’s stock worth $58,000 after acquiring an additional 270 shares during the period. Hedge funds and other institutional investors own 19.33% of the company’s stock.

Wall Street Analyst Weigh In

RIO has been the subject of a number of research reports. Jefferies Financial Group lowered their price target on Rio Tinto Group from $83.00 to $73.00 and set a “buy” rating for the company in a report on Monday, January 6th. StockNews.com cut Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a report on Saturday, February 22nd. Four research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $73.00.

Rio Tinto Group Trading Down 0.3 %

NYSE:RIO opened at $60.51 on Friday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.16 and a current ratio of 1.63. The firm has a 50-day simple moving average of $60.77 and a 200-day simple moving average of $62.89. Rio Tinto Group has a one year low of $57.85 and a one year high of $74.24. The firm has a market cap of $75.82 billion, a P/E ratio of 9.38, a P/E/G ratio of 0.42 and a beta of 0.65.

Rio Tinto Group Increases Dividend

The business also recently announced a semi-annual dividend, which will be paid on Thursday, April 17th. Shareholders of record on Friday, March 7th will be issued a dividend of $2.23 per share. The ex-dividend date of this dividend is Friday, March 7th. This represents a yield of 7%. This is a positive change from Rio Tinto Group’s previous semi-annual dividend of $1.77. Rio Tinto Group’s dividend payout ratio is currently 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.