Legacy Financial Advisors Inc. Buys New Holdings in Rio Tinto Group (NYSE:RIO)

Legacy Financial Advisors Inc. bought a new stake in Rio Tinto Group (NYSE:RIO) during the 4th quarter, HoldingsChannel reports. The institutional investor bought 3,650 shares of the mining company’s stock, valued at approximately $272,000.

Several other hedge funds have also recently added to or reduced their stakes in the company. Sapient Capital LLC acquired a new stake in Rio Tinto Group in the fourth quarter valued at approximately $222,000. U.S. Capital Wealth Advisors LLC raised its holdings in Rio Tinto Group by 0.9% during the fourth quarter. U.S. Capital Wealth Advisors LLC now owns 47,778 shares of the mining company’s stock worth $3,558,000 after purchasing an additional 421 shares in the last quarter. Benjamin F. Edwards & Company Inc. raised its holdings in Rio Tinto Group by 62.0% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 6,611 shares of the mining company’s stock worth $493,000 after purchasing an additional 2,530 shares in the last quarter. Summit Global Investments acquired a new stake in Rio Tinto Group during the fourth quarter worth approximately $5,439,000. Finally, Aveo Capital Partners LLC raised its holdings in Rio Tinto Group by 6.4% during the fourth quarter. Aveo Capital Partners LLC now owns 3,692 shares of the mining company’s stock worth $275,000 after purchasing an additional 223 shares in the last quarter. Institutional investors and hedge funds own 19.33% of the company’s stock.

Rio Tinto Group Trading Up 1.0 %

Shares of RIO traded up $0.66 during mid-day trading on Friday, reaching $68.94. 3,193,760 shares of the company’s stock were exchanged, compared to its average volume of 3,270,538. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.17 and a current ratio of 1.69. The business’s fifty day simple moving average is $65.05 and its 200-day simple moving average is $67.46. Rio Tinto Group has a 52-week low of $58.27 and a 52-week high of $75.09.

Rio Tinto Group Increases Dividend

The company also recently disclosed a semi-annual dividend, which was paid on Thursday, April 18th. Investors of record on Friday, March 8th were given a $2.58 dividend. This represents a yield of 6.6%. This is a positive change from Rio Tinto Group’s previous semi-annual dividend of $1.77. The ex-dividend date of this dividend was Thursday, March 7th.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. The Goldman Sachs Group assumed coverage on shares of Rio Tinto Group in a report on Friday, January 12th. They set a “buy” rating on the stock. StockNews.com upgraded shares of Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a research report on Monday, April 29th. Finally, Liberum Capital restated a “hold” rating on shares of Rio Tinto Group in a research report on Tuesday, March 5th. Two investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Rio Tinto Group currently has an average rating of “Moderate Buy” and an average target price of $72.00.

Rio Tinto Group 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.