Core Wealth Partners LLC Boosts Position in Rio Tinto Group (NYSE:RIO)

Core Wealth Partners LLC boosted its position in shares of Rio Tinto Group (NYSE:RIO) by 14.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,000 shares of the mining company’s stock after acquiring an additional 1,000 shares during the period. Core Wealth Partners LLC’s holdings in Rio Tinto Group were worth $470,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of RIO. Thurston Springer Miller Herd & Titak Inc. raised its holdings in Rio Tinto Group by 63.9% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 500 shares of the mining company’s stock worth $29,000 after purchasing an additional 195 shares in the last quarter. Rakuten Securities Inc. increased its holdings in Rio Tinto Group by 74.8% in the 4th quarter. Rakuten Securities Inc. now owns 493 shares of the mining company’s stock worth $29,000 after buying an additional 211 shares in the last quarter. Golden State Wealth Management LLC bought a new stake in Rio Tinto Group in the 4th quarter worth about $47,000. HHM Wealth Advisors LLC purchased a new position in Rio Tinto Group in the 4th quarter worth about $50,000. Finally, FSC Wealth Advisors LLC lifted its stake in Rio Tinto Group by 150.0% during the 4th quarter. FSC Wealth Advisors LLC now owns 1,000 shares of the mining company’s stock valued at $59,000 after acquiring an additional 600 shares during the period. Institutional investors own 19.33% of the company’s stock.

Wall Street Analysts Forecast Growth

RIO has been the topic of a number of research analyst reports. Jefferies Financial Group lowered their price objective on shares of Rio Tinto Group from $83.00 to $73.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Clarkson Capital upgraded Rio Tinto Group to a “strong-buy” rating in a research note on Friday, February 28th. JPMorgan Chase & Co. began coverage on Rio Tinto Group in a research report on Tuesday, March 18th. They set an “overweight” rating for the company. Finally, StockNews.com downgraded Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a research note on Saturday, February 22nd. Three research analysts have rated the stock with a hold rating, five have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $73.00.

Rio Tinto Group Stock Performance

NYSE RIO opened at $62.86 on Wednesday. The business has a 50 day simple moving average of $62.01 and a two-hundred day simple moving average of $62.92. Rio Tinto Group has a 1-year low of $57.85 and a 1-year high of $74.24. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.63 and a quick ratio of 1.16. The stock has a market capitalization of $78.77 billion, a PE ratio of 9.75, a P/E/G ratio of 0.42 and a beta of 0.60.

Rio Tinto Group Increases Dividend

The business also recently announced a semi-annual dividend, which will be paid on Thursday, April 17th. Stockholders of record on Friday, March 7th will be issued a $2.23 dividend. This is a boost from Rio Tinto Group’s previous semi-annual dividend of $1.77. The ex-dividend date is Friday, March 7th. This represents a dividend yield of 7%. Rio Tinto Group’s payout ratio is 69.15%.

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.