Rio Tinto Group (NYSE:RIO) Shares Purchased by Apollon Wealth Management LLC

Apollon Wealth Management LLC grew its stake in shares of Rio Tinto Group (NYSE:RIO) by 13.3% in the 4th quarter, Holdings Channel.com reports. The fund owned 15,258 shares of the mining company’s stock after purchasing an additional 1,786 shares during the quarter. Apollon Wealth Management LLC’s holdings in Rio Tinto Group were worth $1,136,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Wellington Management Group LLP lifted its position in shares of Rio Tinto Group by 41.0% during 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 last quarter. Fisher Asset Management LLC grew its position in shares of Rio Tinto Group by 3.1% in the 4th quarter. Fisher Asset Management LLC now owns 16,045,541 shares of the mining company’s stock worth $1,194,751,000 after acquiring an additional 475,329 shares in the last quarter. Van ECK Associates Corp increased its holdings in shares of Rio Tinto Group by 191.3% in the 4th quarter. Van ECK Associates Corp now owns 715,829 shares of the mining company’s stock valued at $53,301,000 after acquiring an additional 470,073 shares during the last quarter. Qube Research & Technologies Ltd raised its position 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 valued at $37,020,000 after acquiring an additional 358,121 shares in the last quarter. Finally, Envestnet Asset Management Inc. lifted its stake in Rio Tinto Group by 33.5% during the third quarter. Envestnet Asset Management Inc. now owns 965,384 shares of the mining company’s stock worth $61,437,000 after purchasing an additional 242,313 shares during the last quarter. Institutional investors own 19.33% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. The Goldman Sachs Group started coverage on shares of Rio Tinto Group in a research note on Friday, January 12th. They set a “buy” rating for the company. Liberum Capital reiterated a “hold” rating on shares of Rio Tinto Group in a research note on Tuesday, March 5th. Finally, StockNews.com upgraded Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a research note on Monday, April 29th. Two analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $72.00.

Rio Tinto Group Trading Down 1.5 %

Rio Tinto Group stock opened at $69.02 on Thursday. The company has a 50-day simple moving average of $65.26 and a 200-day simple moving average of $67.64. 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. Shareholders of record on Friday, March 8th were paid a $2.58 dividend. The ex-dividend date was Thursday, March 7th. This represents a dividend yield of 6.6%. This is a positive change from Rio Tinto Group’s previous semi-annual dividend of $1.77.

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.