RWA Wealth Partners LLC Makes New Investment in Rio Tinto Group (NYSE:RIO)

RWA Wealth Partners LLC bought a new stake in Rio Tinto Group (NYSE:RIO) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 44,733 shares of the mining company’s stock, valued at approximately $3,331,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Arkadios Wealth Advisors purchased a new position in Rio Tinto Group in the third quarter valued at about $219,000. SG Americas Securities LLC grew its holdings in Rio Tinto Group by 44.9% in the 3rd quarter. SG Americas Securities LLC now owns 16,243 shares of the mining company’s stock valued at $1,034,000 after buying an additional 5,034 shares in the last quarter. BTC Capital Management Inc. grew its holdings in shares of Rio Tinto Group by 16.1% during the 3rd quarter. BTC Capital Management Inc. now owns 22,291 shares of the mining company’s stock worth $1,419,000 after purchasing an additional 3,086 shares during the period. Royal Fund Management LLC grew its holdings in shares of Rio Tinto Group by 2.3% during the 3rd quarter. Royal Fund Management LLC now owns 11,850 shares of the mining company’s stock worth $754,000 after purchasing an additional 265 shares during the period. Finally, Riverview Trust Co acquired a new position in Rio Tinto Group during the 3rd quarter worth about $110,000. 19.33% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

RIO has been the topic of several analyst reports. The Goldman Sachs Group began coverage on Rio Tinto Group in a research note on Friday, January 12th. They issued a “buy” rating on the stock. Liberum Capital reiterated a “hold” rating on shares of Rio Tinto Group in a research note on Tuesday, March 5th. Finally, StockNews.com raised Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a report on Thursday, April 18th. Two research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $72.00.

Rio Tinto Group Price Performance

Rio Tinto Group stock opened at $65.72 on Tuesday. Rio Tinto Group has a one year low of $58.27 and a one year high of $75.09. The firm has a 50-day moving average of $64.86 and a 200-day moving average of $67.18. 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 declared a semi-annual dividend, which was paid on Thursday, April 18th. Shareholders of record on Friday, March 8th were issued a $2.58 dividend. This is a boost from Rio Tinto Group’s previous semi-annual dividend of $1.77. This represents a yield of 6.6%. The ex-dividend date was 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.