Rio Tinto Group (NYSE:RIO) Shares Sold by Aviso Financial Inc.

Aviso Financial Inc. reduced its stake in shares of Rio Tinto Group (NYSE:RIO) by 0.9% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 19,020 shares of the mining company’s stock after selling 170 shares during the period. Aviso Financial Inc.’s holdings in Rio Tinto Group were worth $1,119,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently added to or reduced their stakes in the company. Rakuten Securities Inc. grew its stake in Rio Tinto Group by 74.8% during the 4th quarter. Rakuten Securities Inc. now owns 493 shares of the mining company’s stock worth $29,000 after buying an additional 211 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. grew its stake in Rio Tinto Group by 63.9% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 500 shares of the mining company’s stock worth $29,000 after buying an additional 195 shares during the last quarter. Golden State Wealth Management LLC bought a new position in Rio Tinto Group during the 4th quarter worth $47,000. HHM Wealth Advisors LLC bought a new position in Rio Tinto Group during the 4th quarter worth $50,000. Finally, Newbridge Financial Services Group Inc. bought a new position in Rio Tinto Group during the 4th quarter worth $59,000. 19.33% of the stock is currently owned by institutional investors.

Rio Tinto Group Trading Up 3.1 %

NYSE:RIO opened at $63.08 on Friday. Rio Tinto Group has a 1 year low of $57.85 and a 1 year high of $74.24. The stock has a market cap of $79.04 billion, a price-to-earnings ratio of 9.78, a PEG ratio of 0.42 and a beta of 0.60. The business has a fifty day moving average of $61.43 and a 200-day moving average of $62.85. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.16 and a current ratio of 1.63.

Rio Tinto Group Increases Dividend

The company also recently disclosed a semi-annual dividend, which will be paid on Thursday, April 17th. Stockholders of record on Friday, March 7th will be issued a $2.23 dividend. This is a positive change from Rio Tinto Group’s previous semi-annual dividend of $1.77. The ex-dividend date of this dividend is Friday, March 7th. This represents a dividend yield of 7%. Rio Tinto Group’s dividend payout ratio is 69.15%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on RIO shares. StockNews.com downgraded Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a research note on Saturday, February 22nd. Clarkson Capital raised Rio Tinto Group to a “strong-buy” rating in a research note on Friday, February 28th. Finally, Jefferies Financial Group decreased their price target on 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. Three analysts have rated the stock with a hold rating, four have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Rio Tinto Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $73.00.

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.