JPMorgan Chase & Co. Lowers Holdings in Rio Tinto Group (NYSE:RIO)

JPMorgan Chase & Co. trimmed its position in Rio Tinto Group (NYSE:RIO) by 57.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 463,124 shares of the mining company’s stock after selling 613,801 shares during the period. JPMorgan Chase & Co.’s holdings in Rio Tinto Group were worth $34,836,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of RIO. Marshall Wace LLP purchased a new position in Rio Tinto Group in the 1st quarter valued at $393,000. FMR LLC grew its position in Rio Tinto Group by 0.4% in the 1st quarter. FMR LLC now owns 291,222 shares of the mining company’s stock valued at $17,138,000 after buying an additional 1,027 shares during the last quarter. First Trust Advisors LP grew its position in Rio Tinto Group by 3.5% in the 1st quarter. First Trust Advisors LP now owns 86,103 shares of the mining company’s stock valued at $5,067,000 after buying an additional 2,938 shares during the last quarter. AXA S.A. acquired a new stake in Rio Tinto Group in the third quarter valued at $49,000. Finally, First Allied Advisory Services Inc. acquired a new stake in Rio Tinto Group in the third quarter valued at $299,000. Hedge funds and other institutional investors own 7.53% of the company’s stock.

A number of research firms have commented on RIO. UBS Group reissued a “neutral” rating on shares of Rio Tinto Group in a report on Thursday, February 18th. Berenberg Bank reissued a “hold” rating on shares of Rio Tinto Group in a report on Wednesday. BMO Capital Markets began coverage on Rio Tinto Group in a report on Monday, January 4th. They issued an “outperform” rating for the company. Morgan Stanley reissued an “equal weight” rating on shares of Rio Tinto Group in a report on Wednesday, March 24th. Finally, JPMorgan Chase & Co. reaffirmed an “overweight” rating on shares of Rio Tinto Group in a research note on Friday, March 5th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and eight have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $70.00.

NYSE:RIO opened at $80.02 on Thursday. The company has a market capitalization of $99.87 billion, a PE ratio of 12.64 and a beta of 0.67. The company has a quick ratio of 1.23, a current ratio of 1.61 and a debt-to-equity ratio of 0.31. Rio Tinto Group has a 52-week low of $44.11 and a 52-week high of $92.85. The stock has a fifty day simple moving average of $82.33 and a 200-day simple moving average of $73.12.

The company also recently declared a semi-annual dividend, which will be paid on Thursday, April 15th. Stockholders of record on Friday, March 5th will be paid a dividend of $0.93 per share. This represents a dividend yield of 4.4%. The ex-dividend date of this dividend is Thursday, March 4th. Rio Tinto Group’s dividend payout ratio (DPR) is presently 97.63%.

Rio Tinto Group Profile

Rio Tinto Group engages in exploring, mining, and processing mineral resources worldwide. The company offers aluminum, silver, molybdenum, copper, diamonds, gold, borates, titanium dioxide, salt, iron ore, and uranium. It is also involved in the alumina production; primary aluminum smelting; bauxite mining; alumina refining; and ilmenite, rutile, and zircon mining, as well as provision of gypsum.

See Also: Certificate of Deposit (CD)

Institutional Ownership by Quarter for Rio Tinto Group (NYSE:RIO)

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