Lester Murray Antman dba SimplyRich Takes Position in Rio Tinto Group (NYSE:RIO)

Lester Murray Antman dba SimplyRich purchased a new stake in shares of Rio Tinto Group (NYSE:RIO) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 4,330 shares of the mining company’s stock, valued at approximately $322,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Bank of New York Mellon Corp increased its position in shares of Rio Tinto Group by 23.9% in the first quarter. Bank of New York Mellon Corp now owns 61,529 shares of the mining company’s stock worth $4,947,000 after purchasing an additional 11,879 shares during the last quarter. Cetera Advisor Networks LLC increased its position in shares of Rio Tinto Group by 33.8% in the first quarter. Cetera Advisor Networks LLC now owns 6,549 shares of the mining company’s stock worth $527,000 after purchasing an additional 1,654 shares during the last quarter. BlackRock Inc. increased its position in shares of Rio Tinto Group by 19.4% in the first quarter. BlackRock Inc. now owns 1,539,846 shares of the mining company’s stock worth $123,803,000 after purchasing an additional 250,480 shares during the last quarter. Vontobel Holding Ltd. purchased a new stake in Rio Tinto Group in the first quarter worth approximately $499,000. Finally, Cetera Investment Advisers boosted its stake in Rio Tinto Group by 141.7% in the first quarter. Cetera Investment Advisers now owns 13,466 shares of the mining company’s stock worth $1,083,000 after buying an additional 7,894 shares in the last quarter. 19.33% of the stock is currently owned by institutional investors.

Rio Tinto Group Stock Performance

RIO stock traded up $1.18 on Tuesday, reaching $67.26. The company’s stock had a trading volume of 3,579,104 shares, compared to its average volume of 2,919,220. Rio Tinto Group has a 52 week low of $58.27 and a 52 week high of $75.09. The firm has a fifty day moving average of $65.26 and a two-hundred day moving average of $66.88. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.17 and a current ratio of 1.69.

Rio Tinto Group Increases Dividend

The firm also recently declared a semi-annual dividend, which will be paid on Thursday, April 18th. Stockholders of record on Friday, March 8th will be given a $2.58 dividend. This is an increase from Rio Tinto Group’s previous semi-annual dividend of $1.77. This represents a dividend yield of 6.6%. The ex-dividend date of this dividend is Thursday, March 7th.

Analyst Ratings Changes

RIO has been the subject of several analyst reports. The Goldman Sachs Group started coverage on Rio Tinto Group in a report on Friday, January 12th. They set a “buy” rating for the company. StockNews.com raised Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, March 27th. Finally, Liberum Capital reiterated a “hold” rating on shares of Rio Tinto Group in a report on Tuesday, March 5th. Two analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $72.00.

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.