Rakuten Securities Inc. Makes New Investment in Rio Tinto Group (NYSE:RIO)

Rakuten Securities Inc. acquired a new position in Rio Tinto Group (NYSE:RIO) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 2,663 shares of the mining company’s stock, valued at approximately $198,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Wellington Management Group LLP lifted its position in shares of Rio Tinto Group by 41.0% during the 3rd quarter. Wellington Management Group LLP now owns 23,193,773 shares of the mining company’s stock valued at $1,476,052,000 after buying an additional 6,748,799 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its position in shares of Rio Tinto Group by 58.9% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 12,899,694 shares of the mining company’s stock valued at $1,037,135,000 after buying an additional 4,783,488 shares during the last quarter. Capital World Investors lifted its position in shares of Rio Tinto Group by 4.2% during the 1st quarter. Capital World Investors now owns 8,484,992 shares of the mining company’s stock valued at $682,195,000 after buying an additional 344,145 shares during the last quarter. Morgan Stanley lifted its position in shares of Rio Tinto Group by 2.7% during the 3rd quarter. Morgan Stanley now owns 4,464,344 shares of the mining company’s stock valued at $284,111,000 after buying an additional 118,706 shares during the last quarter. Finally, Cowa LLC purchased a new position in shares of Rio Tinto Group during the 1st quarter valued at $26,000. Hedge funds and other institutional investors own 19.33% of the company’s stock.

Rio Tinto Group Trading Down 1.6 %

NYSE RIO traded down $1.08 during trading on Wednesday, reaching $65.69. The company’s stock had a trading volume of 3,176,963 shares, compared to its average volume of 3,029,462. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.69 and a quick ratio of 1.17. The firm has a fifty day moving average of $64.95 and a 200 day moving average of $67.02. Rio Tinto Group has a one year low of $58.27 and a one year high of $75.09.

Rio Tinto Group Increases Dividend

The firm also recently announced a semi-annual dividend, which will be paid on Thursday, April 18th. Shareholders of record on Friday, March 8th will be paid 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 of this dividend is Thursday, March 7th.

Analyst Ratings Changes

A number of research analysts have recently commented on RIO shares. StockNews.com cut Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, April 10th. The Goldman Sachs Group started coverage on Rio Tinto Group in a research note 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 investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $72.00.

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.