2,797 Shares in Rio Tinto Group (NYSE:RIO) Purchased by Planned Solutions Inc.

Planned Solutions Inc. purchased a new stake in Rio Tinto Group (NYSE:RIO) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 2,797 shares of the mining company’s stock, valued at approximately $208,000.

A number of other large investors have also added to or reduced their stakes in RIO. Householder Group Estate & Retirement Specialist LLC bought a new position in Rio Tinto Group during the 3rd quarter worth $27,000. First Manhattan Co. increased its position in Rio Tinto Group by 555.4% during the 4th quarter. First Manhattan Co. now owns 426 shares of the mining company’s stock worth $30,000 after buying an additional 361 shares during the period. SouthState Corp bought a new position in Rio Tinto Group during the 3rd quarter worth $32,000. Financial Management Professionals Inc. increased its position in Rio Tinto Group by 250.6% during the 4th quarter. Financial Management Professionals Inc. now owns 617 shares of the mining company’s stock worth $46,000 after buying an additional 441 shares during the period. Finally, Bruce G. Allen Investments LLC bought a new position in shares of Rio Tinto Group in the fourth quarter worth $47,000. Institutional investors own 19.33% of the company’s stock.

Analysts Set New Price Targets

RIO has been the subject of a number of analyst reports. BNP Paribas raised Rio Tinto Group from a “neutral” rating to an “outperform” rating in a research note on Tuesday, December 5th. StockNews.com raised Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a research note on Wednesday. The Goldman Sachs Group began coverage on Rio Tinto Group in a research report on Friday, January 12th. They issued a “buy” rating on the stock. Finally, Liberum Capital reiterated a “hold” rating on shares of Rio Tinto Group in a research 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 issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $72.00.

Rio Tinto Group Price Performance

NYSE:RIO opened at $63.46 on Thursday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.17 and a current ratio of 1.69. The stock’s 50-day moving average is $66.19 and its 200-day moving average is $66.91. Rio Tinto Group has a 1-year low of $58.27 and a 1-year high of $75.09.

Rio Tinto Group Increases Dividend

The company also recently declared a semi-annual dividend, which will be paid on Thursday, April 18th. Stockholders of record on Friday, March 8th will be issued a dividend of $2.58 per share. This is a boost from Rio Tinto Group’s previous semi-annual dividend of $1.77. This represents a dividend yield of 6.6%. The ex-dividend date is Thursday, March 7th.

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.