Keel Point LLC Makes New Investment in Rio Tinto Group (NYSE:RIO)

Keel Point LLC purchased a new stake in Rio Tinto Group (NYSE:RIO) during the fourth quarter, according to its most recent filing with the SEC. The firm purchased 3,362 shares of the mining company’s stock, valued at approximately $250,000.

Several other large investors have also recently made changes to their positions in the stock. AdvisorNet Financial Inc grew its stake in Rio Tinto Group by 785.7% in the fourth quarter. AdvisorNet Financial Inc now owns 372 shares of the mining company’s stock valued at $28,000 after purchasing an additional 330 shares during the last quarter. Householder Group Estate & Retirement Specialist LLC purchased a new position in shares of Rio Tinto Group in the 3rd quarter worth approximately $27,000. First Manhattan Co. raised its stake in shares of Rio Tinto Group by 555.4% during the 4th quarter. First Manhattan Co. now owns 426 shares of the mining company’s stock worth $30,000 after acquiring an additional 361 shares in the last quarter. SouthState Corp purchased a new stake in Rio Tinto Group during the third quarter valued at approximately $32,000. Finally, Financial Management Professionals Inc. lifted its position in Rio Tinto Group by 250.6% during the fourth quarter. Financial Management Professionals Inc. now owns 617 shares of the mining company’s stock valued at $46,000 after acquiring an additional 441 shares during the last quarter. 19.33% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on RIO. The Goldman Sachs Group started coverage on Rio Tinto Group in a report on Friday, January 12th. They set a “buy” rating for the company. StockNews.com lowered Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, April 10th. Finally, Liberum Capital reiterated a “hold” rating on shares of Rio Tinto Group in a research note on Tuesday, March 5th. Two equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, Rio Tinto Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $72.00.

Rio Tinto Group Trading Down 1.6 %

NYSE RIO opened at $65.70 on Wednesday. The company has a quick ratio of 1.17, a current ratio of 1.69 and a debt-to-equity ratio of 0.23. Rio Tinto Group has a 12-month low of $58.27 and a 12-month high of $75.09. The company has a fifty day simple moving average of $64.95 and a two-hundred day simple moving average of $67.02.

Rio Tinto Group Increases Dividend

The firm also recently declared a semi-annual dividend, which will be paid on Thursday, April 18th. Shareholders of record on Friday, March 8th will be given a dividend of $2.58 per share. The ex-dividend date is Thursday, March 7th. This is a positive change from Rio Tinto Group’s previous semi-annual dividend of $1.77. This represents a yield of 6.6%.

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.