Uncommon Cents Investing LLC Has $4.18 Million Stock Position in Rio Tinto Group (NYSE:RIO)

Uncommon Cents Investing LLC increased its position in Rio Tinto Group (NYSE:RIO) by 0.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 56,090 shares of the mining company’s stock after purchasing an additional 175 shares during the quarter. Rio Tinto Group makes up 1.4% of Uncommon Cents Investing LLC’s portfolio, making the stock its 17th biggest position. Uncommon Cents Investing LLC’s holdings in Rio Tinto Group were worth $4,176,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in RIO. Cowa LLC acquired a new stake in Rio Tinto Group in the first quarter worth about $26,000. Householder Group Estate & Retirement Specialist LLC bought a new position in Rio Tinto Group during the third quarter worth about $27,000. First Manhattan Co. boosted its holdings in Rio Tinto Group by 555.4% during the fourth quarter. First Manhattan Co. now owns 426 shares of the mining company’s stock worth $30,000 after buying an additional 361 shares during the last quarter. SouthState Corp bought a new position in Rio Tinto Group during the third quarter worth about $32,000. Finally, Financial Management Professionals Inc. boosted its holdings in 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 buying an additional 441 shares during the last quarter. 19.33% of the stock is currently owned by institutional investors and hedge funds.

Rio Tinto Group Stock Performance

NYSE:RIO opened at $63.74 on Friday. Rio Tinto Group has a twelve month low of $58.27 and a twelve month high of $75.09. The stock’s 50 day moving average price is $66.10 and its two-hundred day moving average price is $66.89. 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 Increases Dividend

The firm also recently declared a semi-annual dividend, which will be paid on Thursday, April 18th. Investors of record on Friday, March 8th will be paid a $2.58 dividend. This represents a yield of 6.6%. The ex-dividend date is Thursday, March 7th. This is a boost from Rio Tinto Group’s previous semi-annual dividend of $1.77.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on RIO shares. Liberum Capital restated a “hold” rating on shares of Rio Tinto Group in a report on Tuesday, March 5th. StockNews.com upgraded Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a report on Wednesday. BNP Paribas upgraded Rio Tinto Group from a “neutral” rating to an “outperform” rating in a report on Tuesday, December 5th. Finally, The Goldman Sachs Group began coverage on Rio Tinto Group in a report on Friday, January 12th. They set a “buy” rating on the stock. Two equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, 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.