Rio Tinto Group (NYSE:RIO) Shares Bought by Apollon Wealth Management LLC

Apollon Wealth Management LLC lifted its position in shares of Rio Tinto Group (NYSE:RIO) by 13.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,258 shares of the mining company’s stock after purchasing an additional 1,786 shares during the quarter. Apollon Wealth Management LLC’s holdings in Rio Tinto Group were worth $1,136,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Wellington Management Group LLP grew its position in Rio Tinto Group by 41.0% during the third quarter. Wellington Management Group LLP now owns 23,193,773 shares of the mining company’s stock valued at $1,476,052,000 after buying an additional 6,748,799 shares during the period. Fisher Asset Management LLC increased its stake in shares of Rio Tinto Group by 3.1% in the 4th quarter. Fisher Asset Management LLC now owns 16,045,541 shares of the mining company’s stock valued at $1,194,751,000 after purchasing an additional 475,329 shares in the last quarter. Morgan Stanley raised its holdings in Rio Tinto Group by 2.7% in the 3rd quarter. Morgan Stanley now owns 4,464,344 shares of the mining company’s stock worth $284,111,000 after purchasing an additional 118,706 shares during the period. Acadian Asset Management LLC boosted its position in Rio Tinto Group by 5.9% during the third quarter. Acadian Asset Management LLC now owns 2,903,093 shares of the mining company’s stock worth $184,721,000 after purchasing an additional 161,532 shares in the last quarter. Finally, Northern Trust Corp grew its holdings in Rio Tinto Group by 0.9% in the third quarter. Northern Trust Corp now owns 1,893,222 shares of the mining company’s stock valued at $120,485,000 after purchasing an additional 17,401 shares during the period. 19.33% of the stock is owned by hedge funds and other institutional investors.

Rio Tinto Group Trading Down 1.5 %

NYSE RIO opened at $69.02 on Thursday. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.69 and a quick ratio of 1.17. The firm has a 50 day simple moving average of $65.26 and a 200-day simple moving average of $67.64. Rio Tinto Group has a one year low of $58.27 and a one 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. Shareholders of record on Friday, March 8th were given a $2.58 dividend. This represents a yield of 6.6%. The ex-dividend date was Thursday, March 7th. This is a boost from Rio Tinto Group’s previous semi-annual dividend of $1.77.

Analysts Set New Price Targets

A number of research firms recently issued reports on RIO. The Goldman Sachs Group initiated coverage on shares of Rio Tinto Group in a research note on Friday, January 12th. They issued a “buy” rating on the stock. Liberum Capital reiterated a “hold” rating on shares of Rio Tinto Group in a research report on Tuesday, March 5th. Finally, 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. Two equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $72.00.

About Rio Tinto Group

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.