Fisher Asset Management LLC Raises Stake in Rio Tinto Group (NYSE:RIO)

Fisher Asset Management LLC increased its holdings in Rio Tinto Group (NYSE:RIO) by 3.1% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 16,045,541 shares of the mining company’s stock after purchasing an additional 475,329 shares during the period. Fisher Asset Management LLC owned approximately 1.28% of Rio Tinto Group worth $1,194,751,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the business. Schechter Investment Advisors LLC increased its position in Rio Tinto Group by 10.9% during the third quarter. Schechter Investment Advisors LLC now owns 8,732 shares of the mining company’s stock valued at $556,000 after acquiring an additional 858 shares during the last quarter. International Assets Investment Management LLC bought a new position in shares of Rio Tinto Group in the fourth quarter worth about $7,954,000. Sei Investments Co. grew its position in shares of Rio Tinto Group by 18.3% during the third quarter. Sei Investments Co. now owns 721,662 shares of the mining company’s stock worth $45,926,000 after purchasing an additional 111,623 shares in the last quarter. Morgan Stanley raised its stake in 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 purchasing an additional 118,706 shares during the period. Finally, Kingswood Wealth Advisors LLC lifted its holdings in Rio Tinto Group by 88.2% in the 4th quarter. Kingswood Wealth Advisors LLC now owns 8,221 shares of the mining company’s stock worth $612,000 after purchasing an additional 3,852 shares in the last quarter. Hedge funds and other institutional investors own 19.33% of the company’s stock.

Rio Tinto Group Stock Performance

Shares of NYSE:RIO traded up $0.49 on Thursday, hitting $67.99. 833,905 shares of the company’s stock were exchanged, compared to its average volume of 2,946,460. The business’s 50 day simple moving average is $64.94 and its two-hundred day simple moving average is $67.42. The company has a quick ratio of 1.17, a current ratio of 1.69 and a debt-to-equity ratio of 0.23. Rio Tinto Group has a 12 month low of $58.27 and a 12 month high of $75.09.

Rio Tinto Group Increases Dividend

The company also recently declared 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. The ex-dividend date of this dividend was Thursday, March 7th. This represents a dividend yield of 6.6%.

Analyst Ratings Changes

RIO has been the topic of several recent analyst reports. 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. Liberum Capital reaffirmed a “hold” rating on shares of Rio Tinto Group in a research note on Tuesday, March 5th. Finally, StockNews.com upgraded shares of Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a research report on Monday. Two investment 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 company’s stock. Based on data from MarketBeat, Rio Tinto Group currently has a consensus 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.