Smartleaf Asset Management LLC Purchases 729 Shares of Rio Tinto Group (NYSE:RIO)

Smartleaf Asset Management LLC boosted its position in shares of Rio Tinto Group (NYSE:RIO) by 14.4% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,789 shares of the mining company’s stock after buying an additional 729 shares during the period. Smartleaf Asset Management LLC’s holdings in Rio Tinto Group were worth $339,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in RIO. Capital Wealth Planning LLC boosted its position in shares of Rio Tinto Group by 8.8% during the 4th quarter. Capital Wealth Planning LLC now owns 22,961 shares of the mining company’s stock worth $1,350,000 after acquiring an additional 1,856 shares in the last quarter. US Bancorp DE lifted its stake in Rio Tinto Group by 1.4% during the fourth quarter. US Bancorp DE now owns 104,609 shares of the mining company’s stock worth $6,152,000 after purchasing an additional 1,397 shares during the last quarter. Fisher Asset Management LLC boosted its holdings in shares of Rio Tinto Group by 0.4% in the 4th quarter. Fisher Asset Management LLC now owns 17,604,463 shares of the mining company’s stock valued at $1,035,319,000 after purchasing an additional 76,368 shares in the last quarter. SVB Wealth LLC acquired a new stake in shares of Rio Tinto Group in the 4th quarter valued at $293,000. Finally, Anchor Capital Advisors LLC increased its stake in shares of Rio Tinto Group by 293.1% in the 4th quarter. Anchor Capital Advisors LLC now owns 153,547 shares of the mining company’s stock valued at $9,030,000 after purchasing an additional 114,483 shares during the last quarter. 19.33% of the stock is currently owned by institutional investors and hedge funds.

Rio Tinto Group Price Performance

Rio Tinto Group stock opened at $62.28 on Wednesday. The stock has a 50-day moving average price of $60.87 and a two-hundred day moving average price of $62.88. Rio Tinto Group has a 12 month low of $57.85 and a 12 month high of $74.24. The company has a market capitalization of $78.04 billion, a PE ratio of 9.66, a P/E/G ratio of 0.42 and a beta of 0.65. The company has a current ratio of 1.63, a quick ratio of 1.16 and a debt-to-equity ratio of 0.23.

Rio Tinto Group Increases Dividend

The firm also recently disclosed a semi-annual dividend, which will be paid on Thursday, April 17th. Investors of record on Friday, March 7th will be issued a $2.23 dividend. This represents a yield of 7%. The ex-dividend date of this dividend is Friday, March 7th. This is a positive change from Rio Tinto Group’s previous semi-annual dividend of $1.77. Rio Tinto Group’s dividend payout ratio (DPR) is 69.15%.

Analysts Set New Price Targets

RIO has been the subject of several recent analyst reports. Clarkson Capital upgraded Rio Tinto Group to a “strong-buy” rating in a research report on Friday, February 28th. Jefferies Financial Group dropped their target price on shares of Rio Tinto Group from $83.00 to $73.00 and set a “buy” rating for the company in a report on Monday, January 6th. Finally, StockNews.com lowered shares of Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a report on Saturday, February 22nd. Four analysts have rated the stock with a hold rating, four have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $73.00.

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.