Centaurus Financial Inc. increased its holdings in shares of Rio Tinto Group (NYSE:RIO) by 181.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,303 shares of the mining company’s stock after buying an additional 2,774 shares during the quarter. Centaurus Financial Inc.’s holdings in Rio Tinto Group were worth $361,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds have also modified their holdings of the company. NFJ Investment Group LLC purchased a new position in shares of Rio Tinto Group during the first quarter valued at $1,407,000. Wexford Capital LP acquired a new stake in Rio Tinto Group during the first quarter valued at $2,330,000. Moors & Cabot Inc. boosted its position in Rio Tinto Group by 84.6% during the first quarter. Moors & Cabot Inc. now owns 21,392 shares of the mining company’s stock valued at $1,663,000 after purchasing an additional 9,801 shares during the last quarter. Geode Capital Management LLC boosted its position in Rio Tinto Group by 5.0% during the first quarter. Geode Capital Management LLC now owns 29,733 shares of the mining company’s stock valued at $2,308,000 after purchasing an additional 1,407 shares during the last quarter. Finally, Aptus Capital Advisors LLC boosted its position in Rio Tinto Group by 9.8% during the second quarter. Aptus Capital Advisors LLC now owns 13,281 shares of the mining company’s stock valued at $1,114,000 after purchasing an additional 1,188 shares during the last quarter. Institutional investors and hedge funds own 8.01% of the company’s stock.
A number of analysts have weighed in on RIO shares. Berenberg Bank reaffirmed a “hold” rating on shares of Rio Tinto Group in a research report on Thursday, July 8th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating on shares of Rio Tinto Group in a research report on Tuesday, June 29th. Royal Bank of Canada reaffirmed a “sector perform” rating on shares of Rio Tinto Group in a research report on Wednesday, August 11th. Barclays reaffirmed an “equal weight” rating on shares of Rio Tinto Group in a research report on Tuesday. Finally, CLSA lowered Rio Tinto Group from an “underperform” rating to a “sell” rating in a research note on Thursday, July 29th. Four research analysts have rated the stock with a sell rating, six have given a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $116.13.
The firm also recently announced a special dividend, which will be paid on Thursday, September 23rd. Stockholders of record on Friday, August 13th will be issued a $1.85 dividend. This is an increase from Rio Tinto Group’s previous special dividend of $1.20. This represents a dividend yield of 6.9%. The ex-dividend date is Thursday, August 12th. Rio Tinto Group’s payout ratio is presently 97.66%.
About Rio Tinto Group
Rio Tinto Plc engages in the exploration, mining, and processing of mineral resources. It operates through the following business segments: Iron Ore, Aluminium, Copper and Diamonds, Energy and Minerals, and Other Operations. The Iron Ore segment supplies global seaborne iron ore trade. The Aluminium segment produces bauxite, alumina and primary aluminum.
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