RWA Wealth Partners LLC Invests $3.33 Million in Rio Tinto Group (NYSE:RIO)

RWA Wealth Partners LLC acquired a new position in Rio Tinto Group (NYSE:RIO) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 44,733 shares of the mining company’s stock, valued at approximately $3,331,000.

Several other institutional investors have also bought and sold shares of the stock. Signaturefd LLC lifted its holdings in Rio Tinto Group by 6.5% in the fourth quarter. Signaturefd LLC now owns 23,940 shares of the mining company’s stock worth $1,783,000 after purchasing an additional 1,466 shares during the period. Lindbrook Capital LLC lifted its holdings in Rio Tinto Group by 16.9% in the fourth quarter. Lindbrook Capital LLC now owns 2,664 shares of the mining company’s stock worth $198,000 after purchasing an additional 385 shares during the period. abrdn plc lifted its holdings in Rio Tinto Group by 8.8% in the fourth quarter. abrdn plc now owns 215,100 shares of the mining company’s stock worth $16,016,000 after purchasing an additional 17,400 shares during the period. Hunter Associates Investment Management LLC lifted its holdings in Rio Tinto Group by 5.3% in the fourth quarter. Hunter Associates Investment Management LLC now owns 7,900 shares of the mining company’s stock worth $588,000 after purchasing an additional 400 shares during the period. Finally, J.W. Cole Advisors Inc. lifted its holdings in Rio Tinto Group by 27.9% in the fourth quarter. J.W. Cole Advisors Inc. now owns 4,731 shares of the mining company’s stock worth $352,000 after purchasing an additional 1,031 shares during the period. Institutional investors and hedge funds own 19.33% of the company’s stock.

Rio Tinto Group Stock Down 2.2 %

RIO stock opened at $65.72 on Tuesday. 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 one year low of $58.27 and a one year high of $75.09. The firm has a 50-day moving average of $64.86 and a two-hundred day moving average of $67.18.

Rio Tinto Group Increases Dividend

The company also recently disclosed a semi-annual dividend, which was paid on Thursday, April 18th. Shareholders of record on Friday, March 8th were paid a dividend of $2.58 per share. The ex-dividend date of this dividend was 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%.

Wall Street Analyst Weigh In

RIO has been the subject of several research analyst reports. The Goldman Sachs Group initiated coverage on shares of Rio Tinto Group in a report on Friday, January 12th. They issued a “buy” rating for the company. StockNews.com raised shares of Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a report on Thursday, April 18th. Finally, Liberum Capital reissued a “hold” rating on shares of Rio Tinto Group in a report on Tuesday, March 5th. Two investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $72.00.

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.