Capital Wealth Planning LLC Raises Position in Rio Tinto Group (NYSE:RIO)

Capital Wealth Planning LLC lifted its stake in Rio Tinto Group (NYSE:RIO) by 8.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 22,961 shares of the mining company’s stock after buying an additional 1,856 shares during the period. Capital Wealth Planning LLC’s holdings in Rio Tinto Group were worth $1,350,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Thurston Springer Miller Herd & Titak Inc. boosted its position in shares of Rio Tinto Group by 63.9% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 500 shares of the mining company’s stock worth $29,000 after buying an additional 195 shares during the period. Golden State Wealth Management LLC purchased a new position in Rio Tinto Group in the fourth quarter valued at about $47,000. HHM Wealth Advisors LLC purchased a new position in Rio Tinto Group in the fourth quarter valued at about $50,000. Hara Capital LLC purchased a new position in Rio Tinto Group in the third quarter valued at about $53,000. Finally, Nisa Investment Advisors LLC boosted its holdings in Rio Tinto Group by 49.1% in the third quarter. Nisa Investment Advisors LLC now owns 820 shares of the mining company’s stock valued at $58,000 after purchasing an additional 270 shares during the last quarter. Hedge funds and other institutional investors own 19.33% of the company’s stock.

Rio Tinto Group Trading Down 0.3 %

NYSE:RIO opened at $60.51 on Friday. The company has a quick ratio of 1.16, a current ratio of 1.63 and a debt-to-equity ratio of 0.23. The business’s 50 day moving average is $60.77 and its two-hundred day moving average is $62.88. Rio Tinto Group has a 52 week low of $57.85 and a 52 week high of $74.24. The company has a market cap of $75.82 billion, a PE ratio of 9.38, a P/E/G ratio of 0.42 and a beta of 0.65.

Rio Tinto Group Increases Dividend

The company also recently announced a semi-annual dividend, which will be paid on Thursday, April 17th. Shareholders of record on Friday, March 7th will be issued a dividend of $2.23 per share. This represents a yield of 7%. The ex-dividend date of this dividend is Friday, March 7th. This is an increase from Rio Tinto Group’s previous semi-annual dividend of $1.77. Rio Tinto Group’s dividend payout ratio (DPR) is currently 69.15%.

Analysts Set New Price Targets

A number of research analysts recently commented on RIO shares. StockNews.com downgraded Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a report on Saturday, February 22nd. Jefferies Financial Group reduced their price target on Rio Tinto Group from $83.00 to $73.00 and set a “buy” rating for the company in a report on Monday, January 6th. Four investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price 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.