Community Bank & Trust Waco Texas Makes New $512,000 Investment in Rio Tinto Group (NYSE:RIO)

Community Bank & Trust Waco Texas acquired a new stake in shares of Rio Tinto Group (NYSE:RIO) in the fourth quarter, Holdings Channel.com reports. The firm acquired 6,873 shares of the mining company’s stock, valued at approximately $512,000.

Several other large investors have also recently made changes to their positions in RIO. AdvisorNet Financial Inc lifted its stake in shares of Rio Tinto Group by 785.7% in the fourth quarter. AdvisorNet Financial Inc now owns 372 shares of the mining company’s stock worth $28,000 after buying an additional 330 shares in the last quarter. SouthState Corp acquired a new stake in Rio Tinto Group in the 3rd quarter valued at approximately $32,000. Financial Management Professionals Inc. lifted its position in shares of Rio Tinto Group by 250.6% during the fourth quarter. Financial Management Professionals Inc. now owns 617 shares of the mining company’s stock worth $46,000 after purchasing an additional 441 shares in the last quarter. Bruce G. Allen Investments LLC purchased a new position in Rio Tinto Group in the fourth quarter valued at $47,000. Finally, NBC Securities Inc. purchased a new stake in shares of Rio Tinto Group during the third quarter worth approximately $59,000. 19.33% of the stock is currently owned by institutional investors and hedge funds.

Rio Tinto Group Price Performance

NYSE RIO traded up $1.10 on Wednesday, hitting $67.74. 1,744,582 shares of the company were exchanged, compared to its average volume of 2,960,863. The company has a quick ratio of 1.17, a current ratio of 1.69 and a debt-to-equity ratio of 0.23. The stock has a fifty day moving average of $64.86 and a 200-day moving average of $67.21. Rio Tinto Group has a 12 month low of $58.27 and a 12 month high of $75.09.

Rio Tinto Group Increases Dividend

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

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. StockNews.com upgraded shares of Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a report on Thursday, April 18th. The Goldman Sachs Group started coverage on Rio Tinto Group in a research note on Friday, January 12th. They set a “buy” rating for the company. Finally, Liberum Capital reissued a “hold” rating on shares of Rio Tinto Group in a research note 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’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $72.00.

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.