Anthracite Investment Company Inc. Makes New Investment in Rio Tinto Group (NYSE:RIO)

Anthracite Investment Company Inc. bought a new position in Rio Tinto Group (NYSE:RIO) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 16,000 shares of the mining company’s stock, valued at approximately $941,000.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Rakuten Securities Inc. lifted its holdings in shares of Rio Tinto Group by 74.8% during the fourth quarter. Rakuten Securities Inc. now owns 493 shares of the mining company’s stock valued at $29,000 after purchasing an additional 211 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. raised its position 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 worth $29,000 after buying an additional 195 shares during the last quarter. Golden State Wealth Management LLC bought a new position in Rio Tinto Group during the 4th quarter valued at about $47,000. HHM Wealth Advisors LLC purchased a new stake in shares of Rio Tinto Group during the 4th quarter valued at about $50,000. Finally, Newbridge Financial Services Group Inc. bought a new stake in shares of Rio Tinto Group in the fourth quarter worth approximately $59,000. Institutional investors own 19.33% of the company’s stock.

Rio Tinto Group Stock Up 1.1 %

RIO opened at $62.86 on Wednesday. Rio Tinto Group has a 1-year low of $57.85 and a 1-year high of $74.24. The firm’s 50 day simple moving average is $62.01 and its two-hundred day simple moving average is $62.92. The company has a market capitalization of $78.77 billion, a PE ratio of 9.75, a PEG ratio of 0.42 and a beta of 0.60. The company has a current ratio of 1.63, a quick ratio of 1.16 and a debt-to-equity ratio of 0.23.

Rio Tinto Group Increases Dividend

The business also recently declared a semi-annual dividend, which will be paid on Thursday, April 17th. Shareholders of record on Friday, March 7th will be given a $2.23 dividend. This is a boost from Rio Tinto Group’s previous semi-annual dividend of $1.77. The ex-dividend date of this dividend is Friday, March 7th. This represents a yield of 7%. Rio Tinto Group’s dividend payout ratio is presently 69.15%.

Wall Street Analyst Weigh In

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