Rio Tinto Group (NYSE:RIO) Shares Acquired by Hunter Associates Investment Management LLC

Hunter Associates Investment Management LLC increased its stake in Rio Tinto Group (NYSE:RIO) by 5.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,900 shares of the mining company’s stock after acquiring an additional 400 shares during the period. Hunter Associates Investment Management LLC’s holdings in Rio Tinto Group were worth $588,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of RIO. Cowa LLC acquired a new stake in shares of Rio Tinto Group in the first quarter valued at $26,000. AdvisorNet Financial Inc raised its stake in 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. First Manhattan Co. raised its stake in Rio Tinto Group by 555.4% in the fourth quarter. First Manhattan Co. now owns 426 shares of the mining company’s stock valued at $30,000 after buying an additional 361 shares in the last quarter. SouthState Corp acquired a new stake in Rio Tinto Group in the third quarter valued at $32,000. Finally, Financial Management Professionals Inc. raised its stake in 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 buying an additional 441 shares in the last quarter. 19.33% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

RIO has been the topic of a number of analyst reports. Liberum Capital restated a “hold” rating on shares of Rio Tinto Group in a research note on Tuesday, March 5th. The Goldman Sachs Group initiated coverage on Rio Tinto Group in a research note on Friday, January 12th. They issued a “buy” rating on the stock. Finally, StockNews.com upgraded Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a research note on Thursday. Two investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $72.00.

Rio Tinto Group Stock Performance

Shares of NYSE RIO traded up $0.29 during midday trading on Friday, reaching $66.97. 2,774,494 shares of the company were exchanged, compared to its average volume of 3,194,483. Rio Tinto Group has a 1 year low of $58.27 and a 1 year high of $75.09. The stock has a fifty day simple moving average of $64.87 and a 200 day simple moving average of $67.05. 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 Increases Dividend

The firm also recently disclosed a semi-annual dividend, which was paid on Thursday, April 18th. Shareholders of record on Friday, March 8th were issued a $2.58 dividend. This represents a yield of 6.6%. The ex-dividend date was Thursday, March 7th. This is a positive change from Rio Tinto Group’s previous semi-annual dividend of $1.77.

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.