Natixis Advisors L.P. Grows Position in Rio Tinto Group (NYSE:RIO)

Natixis Advisors L.P. grew its position in shares of Rio Tinto Group (NYSE:RIO) by 0.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 667,962 shares of the mining company’s stock after purchasing an additional 771 shares during the quarter. Natixis Advisors L.P.’s holdings in Rio Tinto Group were worth $49,736,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in RIO. Wellington Management Group LLP raised its position in shares of Rio Tinto Group by 41.0% in the third quarter. Wellington Management Group LLP now owns 23,193,773 shares of the mining company’s stock worth $1,476,052,000 after acquiring an additional 6,748,799 shares during the period. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH acquired a new stake in Rio Tinto Group in the third quarter valued at approximately $42,346,000. Fisher Asset Management LLC grew its holdings in Rio Tinto Group by 3.1% in the fourth quarter. Fisher Asset Management LLC now owns 16,045,541 shares of the mining company’s stock valued at $1,194,751,000 after purchasing an additional 475,329 shares during the period. Van ECK Associates Corp raised its stake in shares of Rio Tinto Group by 191.3% during the 4th quarter. Van ECK Associates Corp now owns 715,829 shares of the mining company’s stock worth $53,301,000 after buying an additional 470,073 shares during the period. Finally, Qube Research & Technologies Ltd raised its stake in shares of Rio Tinto Group by 160.2% during the 3rd quarter. Qube Research & Technologies Ltd now owns 581,714 shares of the mining company’s stock worth $37,020,000 after buying an additional 358,121 shares during the period. Institutional investors and hedge funds own 19.33% of the company’s stock.

Rio Tinto Group Stock Up 1.0 %

Rio Tinto Group stock traded up $0.66 during trading on Friday, hitting $68.94. The company had a trading volume of 3,193,760 shares, compared to its average volume of 3,270,538. The company has a quick ratio of 1.17, a current ratio of 1.69 and a debt-to-equity ratio of 0.23. Rio Tinto Group has a 1-year low of $58.27 and a 1-year high of $75.09. The company’s 50 day simple moving average is $64.99 and its 200-day simple moving average is $67.43.

Rio Tinto Group Increases Dividend

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

Wall Street Analyst Weigh In

Several research firms recently issued reports on RIO. StockNews.com upgraded Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a report on Monday, April 29th. Liberum Capital reaffirmed a “hold” rating on shares of Rio Tinto Group in a research note on Tuesday, March 5th. Finally, The Goldman Sachs Group assumed coverage on Rio Tinto Group in a research report on Friday, January 12th. They set a “buy” rating for the company. Two equities research 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 stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $72.00.

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.