Potentia Wealth Invests $656,000 in Rio Tinto Group (NYSE:RIO)

Potentia Wealth bought a new stake in Rio Tinto Group (NYSE:RIO) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 11,154 shares of the mining company’s stock, valued at approximately $656,000.

Several other institutional investors also recently added to or reduced their stakes in RIO. Dorsey & Whitney Trust CO LLC raised its position in shares of Rio Tinto Group by 2.0% during the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 8,113 shares of the mining company’s stock valued at $477,000 after buying an additional 160 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. raised its holdings in Rio Tinto Group by 63.9% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 500 shares of the mining company’s stock valued at $29,000 after acquiring an additional 195 shares in the last quarter. Cohen Investment Advisors LLC raised its holdings in Rio Tinto Group by 3.8% in the 4th quarter. Cohen Investment Advisors LLC now owns 5,352 shares of the mining company’s stock valued at $315,000 after acquiring an additional 198 shares in the last quarter. Mount Yale Investment Advisors LLC grew its holdings in shares of Rio Tinto Group by 2.0% during the 4th quarter. Mount Yale Investment Advisors LLC now owns 10,191 shares of the mining company’s stock worth $599,000 after purchasing an additional 200 shares in the last quarter. Finally, GAMMA Investing LLC increased its position in shares of Rio Tinto Group by 12.2% during the fourth quarter. GAMMA Investing LLC now owns 1,861 shares of the mining company’s stock valued at $109,000 after purchasing an additional 203 shares during the period. 19.33% of the stock is owned by institutional investors.

Rio Tinto Group Stock Performance

NYSE RIO opened at $62.25 on Tuesday. Rio Tinto Group has a 1-year low of $57.85 and a 1-year high of $74.24. The company has a 50 day moving average of $61.96 and a 200-day moving average of $62.90. The company has a current ratio of 1.63, a quick ratio of 1.16 and a debt-to-equity ratio of 0.23. The firm has a market cap of $78.00 billion, a price-to-earnings ratio of 9.65, a PEG ratio of 0.42 and a beta of 0.60.

Rio Tinto Group Increases Dividend

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

Analyst Ratings Changes

RIO has been the topic of a number of recent research reports. StockNews.com downgraded shares of Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a research note on Saturday, February 22nd. JPMorgan Chase & Co. initiated coverage on shares of Rio Tinto Group in a research note on Tuesday, March 18th. They issued an “overweight” rating on the stock. Jefferies Financial Group cut their price target on shares of Rio Tinto Group from $83.00 to $73.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Finally, Clarkson Capital upgraded Rio Tinto Group to a “strong-buy” rating in a research note on Friday, February 28th. Three research analysts have rated the stock with a hold rating, five have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, Rio Tinto Group has a consensus rating of “Moderate Buy” and an average target price of $73.00.

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.