Uncommon Cents Investing LLC Purchases 175 Shares of Rio Tinto Group (NYSE:RIO)

Uncommon Cents Investing LLC lifted its position in Rio Tinto Group (NYSE:RIO) by 0.3% in the 4th quarter, Holdings Channel reports. The fund owned 56,090 shares of the mining company’s stock after acquiring an additional 175 shares during the quarter. Rio Tinto Group accounts for 1.4% of Uncommon Cents Investing LLC’s holdings, making the stock its 17th biggest holding. Uncommon Cents Investing LLC’s holdings in Rio Tinto Group were worth $4,176,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Cowa LLC bought a new position in shares of Rio Tinto Group in the 1st quarter worth approximately $26,000. Householder Group Estate & Retirement Specialist LLC bought a new position in shares of Rio Tinto Group in the 3rd quarter worth approximately $27,000. First Manhattan Co. grew its stake in shares of Rio Tinto Group by 555.4% in the 4th quarter. First Manhattan Co. now owns 426 shares of the mining company’s stock worth $30,000 after buying an additional 361 shares during the last quarter. SouthState Corp purchased a new stake in shares of Rio Tinto Group in the 3rd quarter worth approximately $32,000. Finally, Financial Management Professionals Inc. grew its stake in shares of Rio Tinto Group by 250.6% in the 4th quarter. Financial Management Professionals Inc. now owns 617 shares of the mining company’s stock worth $46,000 after buying an additional 441 shares during the last quarter. Institutional investors own 19.33% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have commented on RIO shares. StockNews.com upgraded Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a research note on Wednesday. The Goldman Sachs Group assumed coverage on Rio Tinto Group in a research note on Friday, January 12th. They set a “buy” rating on the stock. BNP Paribas upgraded Rio Tinto Group from a “neutral” rating to an “outperform” rating in a research note on Tuesday, December 5th. Finally, Liberum Capital restated a “hold” rating on shares of Rio Tinto Group in a research note on Tuesday, March 5th. Two equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $72.00.

Rio Tinto Group Stock Up 0.4 %

RIO stock opened at $63.74 on Friday. Rio Tinto Group has a 1 year low of $58.27 and a 1 year high of $75.09. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.17 and a current ratio of 1.69. The stock’s fifty day moving average price is $66.10 and its 200-day moving average price is $66.89.

Rio Tinto Group Increases Dividend

The business also recently announced a semi-annual dividend, which will be paid on Thursday, April 18th. Investors of record on Friday, March 8th will be issued a $2.58 dividend. This is a boost from Rio Tinto Group’s previous semi-annual dividend of $1.77. This represents a yield of 6.6%. The ex-dividend date is Thursday, March 7th.

About Rio Tinto Group

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.