Rio Tinto Group (NYSE:RIO) Holdings Increased by Avidian Wealth Solutions LLC

Avidian Wealth Solutions LLC grew its stake in shares of Rio Tinto Group (NYSE:RIO) by 10.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,923 shares of the mining company’s stock after buying an additional 544 shares during the quarter. Avidian Wealth Solutions LLC’s holdings in Rio Tinto Group were worth $441,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in RIO. Wellington Management Group LLP raised its holdings in shares of Rio Tinto Group by 41.0% in the 3rd quarter. Wellington Management Group LLP now owns 23,193,773 shares of the mining company’s stock worth $1,476,052,000 after purchasing an additional 6,748,799 shares in the last quarter. Fisher Asset Management LLC increased its position in shares of Rio Tinto Group by 3.1% in the fourth quarter. Fisher Asset Management LLC now owns 16,045,541 shares of the mining company’s stock worth $1,194,751,000 after acquiring an additional 475,329 shares in the last quarter. Van ECK Associates Corp increased its position in shares of Rio Tinto Group by 191.3% in the fourth quarter. Van ECK Associates Corp now owns 715,829 shares of the mining company’s stock worth $53,301,000 after acquiring an additional 470,073 shares in the last quarter. Qube Research & Technologies Ltd increased its position in shares of Rio Tinto Group by 160.2% in the third quarter. Qube Research & Technologies Ltd now owns 581,714 shares of the mining company’s stock worth $37,020,000 after acquiring an additional 358,121 shares in the last quarter. Finally, Envestnet Asset Management Inc. increased its position in shares of Rio Tinto Group by 33.5% in the third quarter. Envestnet Asset Management Inc. now owns 965,384 shares of the mining company’s stock worth $61,437,000 after acquiring an additional 242,313 shares in the last quarter. 19.33% of the stock is currently owned by institutional investors.

Rio Tinto Group Stock Up 1.4 %

RIO traded up $0.98 on Monday, reaching $69.92. 1,103,501 shares of the company traded hands, compared to its average volume of 2,944,797. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.17 and a current ratio of 1.69. The stock’s 50 day moving average price is $65.05 and its 200-day moving average price is $67.52. Rio Tinto Group has a 52-week low of $58.27 and a 52-week high of $75.09.

Rio Tinto Group Increases Dividend

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

Analysts Set New Price Targets

Several research firms have recently weighed in on RIO. The Goldman Sachs Group began coverage on shares of Rio Tinto Group in a research report on Friday, January 12th. They issued a “buy” rating on the stock. StockNews.com raised shares of Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a research report on Monday, April 29th. Finally, Liberum Capital reaffirmed a “hold” rating on shares of Rio Tinto Group in a research report on Tuesday, March 5th. Two analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price 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.