Shares of Rio Tinto Group (NYSE:RIO – Get Free Report) have been assigned an average rating of “Moderate Buy” from the ten analysts that are covering the stock, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $72.00.
A number of equities analysts 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 research report on Thursday. 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 started coverage on shares of Rio Tinto Group in a research report on Friday, January 12th. They issued a “buy” rating for the company.
Check Out Our Latest Stock Analysis on Rio Tinto Group
Rio Tinto Group Trading Up 1.7 %
Rio Tinto Group Increases Dividend
The company also recently disclosed 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. The ex-dividend date is Thursday, March 7th. This represents a yield of 6.6%. This is an increase from Rio Tinto Group’s previous semi-annual dividend of $1.77.
Hedge Funds Weigh In On Rio Tinto Group
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Wellington Management Group LLP lifted its position in 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 purchasing an additional 6,748,799 shares during the period. Arrowstreet Capital Limited Partnership increased its stake in shares of Rio Tinto Group by 58.9% in the first quarter. Arrowstreet Capital Limited Partnership now owns 12,899,694 shares of the mining company’s stock valued at $1,037,135,000 after buying an additional 4,783,488 shares in the last quarter. Cowa LLC acquired a new stake in shares of Rio Tinto Group in the first quarter valued at $26,000. Goldman Sachs Group Inc. increased its position in Rio Tinto Group by 56.2% in the fourth quarter. Goldman Sachs Group Inc. now owns 5,707,717 shares of the mining company’s stock worth $424,997,000 after purchasing an additional 2,053,147 shares during the period. Finally, SPX Gestao de Recursos Ltda increased its position in Rio Tinto Group by 560.8% in the fourth quarter. SPX Gestao de Recursos Ltda now owns 791,933 shares of the mining company’s stock worth $58,967,000 after purchasing an additional 672,095 shares during the period. Institutional investors and hedge funds own 19.33% of the company’s stock.
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.
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