Sapient Capital LLC Purchases New Position in Rio Tinto Group (NYSE:RIO)

Sapient Capital LLC acquired a new position in shares of Rio Tinto Group (NYSE:RIO) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,981 shares of the mining company’s stock, valued at approximately $222,000.

A number of other institutional investors also recently modified their holdings of the company. AdvisorNet Financial Inc increased its stake in shares of Rio Tinto Group by 785.7% in the fourth quarter. AdvisorNet Financial Inc now owns 372 shares of the mining company’s stock valued at $28,000 after buying an additional 330 shares in the last quarter. SouthState Corp acquired a new position in shares of Rio Tinto Group during the third quarter worth approximately $32,000. Parkside Financial Bank & Trust grew its stake in shares of Rio Tinto Group by 39.3% during the fourth quarter. Parkside Financial Bank & Trust now owns 553 shares of the mining company’s stock valued at $41,000 after purchasing an additional 156 shares during the last quarter. Financial Management Professionals Inc. increased its holdings in shares of Rio Tinto Group by 250.6% in the fourth quarter. Financial Management Professionals Inc. now owns 617 shares of the mining company’s stock valued at $46,000 after purchasing an additional 441 shares in the last quarter. Finally, Bruce G. Allen Investments LLC bought a new position in Rio Tinto Group in the 4th quarter worth approximately $47,000. Institutional investors own 19.33% of the company’s stock.

Rio Tinto Group Stock Up 0.3 %

Rio Tinto Group stock opened at $70.02 on Wednesday. The business has a 50-day moving average of $65.26 and a 200-day moving average of $67.64. 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 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 declared a semi-annual dividend, which was paid on Thursday, April 18th. Stockholders of record on Friday, March 8th were given a $2.58 dividend. This represents a dividend yield of 6.6%. This is an increase from Rio Tinto Group’s previous semi-annual dividend of $1.77. The ex-dividend date was Thursday, March 7th.

Wall Street Analysts Forecast Growth

RIO has been the subject of several research reports. StockNews.com raised Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a research note on Monday, April 29th. The Goldman Sachs Group initiated 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 report on Tuesday, March 5th. Two investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus 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.