National Bank of Canada FI Grows Stock Holdings in Rio Tinto Group (NYSE:RIO)

National Bank of Canada FI grew its holdings in Rio Tinto Group (NYSE:RIO) by 1.8% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 116,463 shares of the mining company’s stock after acquiring an additional 2,070 shares during the period. National Bank of Canada FI’s holdings in Rio Tinto Group were worth $6,849,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the business. Rakuten Securities Inc. lifted its holdings in shares of Rio Tinto Group by 74.8% in the 4th quarter. Rakuten Securities Inc. now owns 493 shares of the mining company’s stock valued at $29,000 after acquiring an additional 211 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. lifted its stake in shares of Rio Tinto Group by 63.9% in the 4th 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 last quarter. Mechanics Financial Corp purchased a new position in shares of Rio Tinto Group in the 4th quarter worth approximately $29,000. Golden State Wealth Management LLC bought a new position in shares of Rio Tinto Group during the 4th quarter valued at approximately $47,000. Finally, HHM Wealth Advisors LLC purchased a new stake in Rio Tinto Group during the 4th quarter valued at $50,000. 19.33% of the stock is currently owned by institutional investors.

Rio Tinto Group Stock Down 6.5 %

Rio Tinto Group stock opened at $54.66 on Monday. Rio Tinto Group has a fifty-two week low of $52.56 and a fifty-two week high of $74.24. The company has a market cap of $68.54 billion, a PE ratio of 8.47, a PEG ratio of 0.42 and a beta of 0.66. 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 business’s 50-day simple moving average is $61.82 and its two-hundred day simple moving average is $62.81.

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 issued a $2.23 dividend. This represents a dividend yield of 7%. The ex-dividend date is Friday, March 7th. This is a boost from Rio Tinto Group’s previous semi-annual dividend of $1.77. Rio Tinto Group’s payout ratio is 69.15%.

Wall Street Analysts Forecast Growth

Several research firms have commented on RIO. JPMorgan Chase & Co. assumed coverage on shares of Rio Tinto Group in a research note on Tuesday, March 18th. They set an “overweight” rating for the company. StockNews.com upgraded shares of Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a report on Friday. Clarkson Capital raised shares of Rio Tinto Group to a “strong-buy” rating in a research note on Friday, February 28th. Jefferies Financial Group cut their target price on Rio Tinto Group from $83.00 to $73.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Finally, DZ Bank raised Rio Tinto Group from a “hold” rating to a “strong-buy” rating in a research note on Thursday, March 27th. Three investment analysts have rated the stock with a hold rating, four have issued a buy rating and four have given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $73.00.

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.