Community Bank & Trust Waco Texas Purchases New Shares in Rio Tinto Group (NYSE:RIO)

Community Bank & Trust Waco Texas acquired a new position in Rio Tinto Group (NYSE:RIO) during the fourth quarter, according to the company in its most recent filing with the SEC. The fund acquired 6,873 shares of the mining company’s stock, valued at approximately $512,000.

Several other large investors also recently modified their holdings of RIO. AdvisorNet Financial Inc grew its holdings in Rio Tinto Group by 785.7% during the 4th quarter. AdvisorNet Financial Inc now owns 372 shares of the mining company’s stock worth $28,000 after acquiring an additional 330 shares in the last quarter. SouthState Corp bought a new position in Rio Tinto Group during the 3rd quarter worth approximately $32,000. Financial Management Professionals Inc. raised its holdings in shares of Rio Tinto Group by 250.6% during the fourth quarter. Financial Management Professionals Inc. now owns 617 shares of the mining company’s stock worth $46,000 after purchasing an additional 441 shares during the period. Bruce G. Allen Investments LLC bought a new position in Rio Tinto Group in the fourth quarter worth about $47,000. Finally, NBC Securities Inc. bought a new position in Rio Tinto Group in the 3rd quarter worth about $59,000. 19.33% of the stock is currently owned by institutional investors and hedge funds.

Rio Tinto Group Stock Up 1.7 %

Shares of RIO traded up $1.10 during trading hours on Wednesday, hitting $67.74. 1,744,582 shares of the stock traded hands, compared to its average volume of 2,960,863. The business has a fifty day moving average of $64.86 and a 200-day moving average of $67.21. The company has a current ratio of 1.69, a quick ratio of 1.17 and a debt-to-equity ratio of 0.23. 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 firm also recently disclosed a semi-annual dividend, which was paid on Thursday, April 18th. Investors 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. This represents a yield of 6.6%. The ex-dividend date was Thursday, March 7th.

Analyst Upgrades and Downgrades

RIO has been the subject of a number of analyst reports. StockNews.com upgraded shares of Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a research note on Thursday, April 18th. 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 reiterated a “hold” rating on shares of Rio Tinto Group in a research note on Tuesday, March 5th. Two equities research 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 stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $72.00.

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.