Rio Tinto Group (NYSE:RIO) Stake Increased by U.S. Capital Wealth Advisors LLC

U.S. Capital Wealth Advisors LLC grew its holdings in Rio Tinto Group (NYSE:RIO) by 0.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 47,778 shares of the mining company’s stock after purchasing an additional 421 shares during the period. U.S. Capital Wealth Advisors LLC’s holdings in Rio Tinto Group were worth $3,558,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of RIO. AdvisorNet Financial Inc increased 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 acquiring an additional 330 shares during the last quarter. SouthState Corp acquired a new position in shares of Rio Tinto Group in the third quarter worth $32,000. Parkside Financial Bank & Trust increased its stake in shares of Rio Tinto Group by 39.3% in the fourth quarter. Parkside Financial Bank & Trust now owns 553 shares of the mining company’s stock worth $41,000 after acquiring an additional 156 shares during the last quarter. Financial Management Professionals Inc. increased its stake in shares of Rio Tinto Group by 250.6% in the fourth quarter. Financial Management Professionals Inc. now owns 617 shares of the mining company’s stock worth $46,000 after acquiring an additional 441 shares during the last quarter. Finally, Bruce G. Allen Investments LLC acquired a new position in shares of Rio Tinto Group in the fourth quarter worth $47,000. Hedge funds and other institutional investors own 19.33% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the stock. StockNews.com raised shares of Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a research note on Monday, April 29th. The Goldman Sachs Group started coverage on shares of Rio Tinto Group in a research report on Friday, January 12th. They set a “buy” rating on the stock. Finally, Liberum Capital restated 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, eight have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $72.00.

Rio Tinto Group Stock Performance

Shares of Rio Tinto Group stock traded up $0.66 on Friday, hitting $68.94. 3,193,760 shares of the company’s stock traded hands, compared to its average volume of 3,270,538. The firm’s 50-day moving average price is $65.05 and its two-hundred day moving average price is $67.46. Rio Tinto Group has a one year low of $58.27 and a one year high of $75.09. 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 company also recently declared a semi-annual dividend, which was paid on Thursday, April 18th. Stockholders of record on Friday, March 8th were issued a $2.58 dividend. This is a positive change from Rio Tinto Group’s previous semi-annual dividend of $1.77. The ex-dividend date was Thursday, March 7th. This represents a dividend yield of 6.6%.

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.