Rakuten Securities Inc. Invests $198,000 in Rio Tinto Group (NYSE:RIO)

Rakuten Securities Inc. bought a new position in Rio Tinto Group (NYSE:RIO) in the 4th quarter, Holdings Channel.com reports. The firm bought 2,663 shares of the mining company’s stock, valued at approximately $198,000.

Other hedge funds also recently made changes to their positions in the company. Dana Investment Advisors Inc. lifted its stake in shares of Rio Tinto Group by 0.5% in the third quarter. Dana Investment Advisors Inc. now owns 29,483 shares of the mining company’s stock valued at $1,876,000 after purchasing an additional 150 shares during the period. Ambassador Advisors LLC increased its holdings in Rio Tinto Group by 3.6% during the 4th quarter. Ambassador Advisors LLC now owns 4,398 shares of the mining company’s stock valued at $313,000 after acquiring an additional 153 shares in the last quarter. Pinnacle Wealth Planning Services Inc. increased its holdings in Rio Tinto Group by 1.8% during the 3rd quarter. Pinnacle Wealth Planning Services Inc. now owns 9,674 shares of the mining company’s stock valued at $616,000 after acquiring an additional 172 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC increased its holdings in Rio Tinto Group by 2.4% during the 3rd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 7,428 shares of the mining company’s stock valued at $473,000 after acquiring an additional 172 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC increased its holdings in Rio Tinto Group by 1.3% during the 1st quarter. Steward Partners Investment Advisory LLC now owns 13,815 shares of the mining company’s stock valued at $948,000 after acquiring an additional 174 shares in the last quarter. Institutional investors and hedge funds own 19.33% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have weighed in on the stock. StockNews.com downgraded shares of Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a report on Wednesday, April 10th. The Goldman Sachs Group started coverage on shares of Rio Tinto Group in a report on Friday, January 12th. They set a “buy” rating for the company. Finally, Liberum Capital reiterated a “hold” rating on shares of Rio Tinto Group in a report on Tuesday, March 5th. Two investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $72.00.

Rio Tinto Group Trading Down 1.6 %

Shares of NYSE RIO traded down $1.08 during midday trading on Wednesday, reaching $65.69. 3,176,963 shares of the stock were exchanged, compared to its average volume of 3,029,462. Rio Tinto Group has a 52-week low of $58.27 and a 52-week high of $75.09. The stock has a 50 day moving average price of $64.95 and a 200-day moving average price of $67.02. 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 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 represents a yield of 6.6%. This is an increase from Rio Tinto Group’s previous semi-annual dividend of $1.77. The ex-dividend date of this dividend 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.