ExodusPoint Capital Management LP Invests $6.88 Million in Rio Tinto Group (NYSE:RIO)

ExodusPoint Capital Management LP bought a new stake in shares of Rio Tinto Group (NYSE:RIO) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 116,992 shares of the mining company’s stock, valued at approximately $6,880,000.

Several other institutional investors also recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Rio Tinto Group by 26.0% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,084 shares of the mining company’s stock worth $77,000 after purchasing an additional 224 shares in the last quarter. Hilltop Holdings Inc. raised its stake in Rio Tinto Group by 11.2% in the third quarter. Hilltop Holdings Inc. now owns 4,146 shares of the mining company’s stock valued at $295,000 after buying an additional 416 shares during the last quarter. IHT Wealth Management LLC acquired a new stake in Rio Tinto Group in the third quarter worth about $232,000. Insigneo Advisory Services LLC grew its stake in shares of Rio Tinto Group by 103.7% during the third quarter. Insigneo Advisory Services LLC now owns 11,582 shares of the mining company’s stock worth $824,000 after acquiring an additional 5,896 shares during the last quarter. Finally, EP Wealth Advisors LLC raised its position in shares of Rio Tinto Group by 26.7% in the 3rd quarter. EP Wealth Advisors LLC now owns 6,641 shares of the mining company’s stock valued at $473,000 after purchasing an additional 1,401 shares during the last quarter. 19.33% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

RIO has been the topic of several research analyst reports. DZ Bank raised shares of Rio Tinto Group from a “hold” rating to a “strong-buy” rating in a research report on Thursday, March 27th. JPMorgan Chase & Co. initiated coverage on Rio Tinto Group in a research report on Tuesday, March 18th. They issued an “overweight” rating on the stock. Jefferies Financial Group reduced their target price on 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. StockNews.com upgraded Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a research note on Friday. Finally, Clarkson Capital upgraded Rio Tinto Group to a “strong-buy” rating in a research note on Friday, February 28th. Three analysts have rated the stock with a hold rating, four have assigned a buy rating and four have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Rio Tinto Group presently has an average rating of “Buy” and a consensus price target of $73.00.

Rio Tinto Group Stock Down 6.5 %

Shares of RIO opened at $54.66 on Friday. The company has a market capitalization of $68.54 billion, a price-to-earnings ratio of 8.47, a PEG ratio of 0.42 and a beta of 0.66. Rio Tinto Group has a 52 week low of $53.96 and a 52 week high of $74.24. The stock’s 50-day moving average price is $61.82 and its 200-day moving average price is $62.81. The company has a quick ratio of 1.16, a current ratio of 1.63 and a debt-to-equity ratio of 0.23.

Rio Tinto Group Increases Dividend

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

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.