Assetmark Inc. Has $3.75 Million Stake in Rio Tinto Group (NYSE:RIO)

Assetmark Inc. boosted its holdings in shares of Rio Tinto Group (NYSE:RIO) by 0.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 63,782 shares of the mining company’s stock after purchasing an additional 372 shares during the period. Assetmark Inc.’s holdings in Rio Tinto Group were worth $3,751,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Thurston Springer Miller Herd & Titak Inc. increased its holdings in Rio Tinto Group by 63.9% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 500 shares of the mining company’s stock valued at $29,000 after purchasing an additional 195 shares in the last quarter. Golden State Wealth Management LLC acquired a new stake in Rio Tinto Group during the 4th quarter valued at $47,000. Nisa Investment Advisors LLC increased its holdings in Rio Tinto Group by 49.1% during the 3rd quarter. Nisa Investment Advisors LLC now owns 820 shares of the mining company’s stock valued at $58,000 after purchasing an additional 270 shares in the last quarter. HHM Wealth Advisors LLC acquired a new stake in Rio Tinto Group during the 4th quarter valued at $50,000. Finally, Newbridge Financial Services Group Inc. acquired a new stake in Rio Tinto Group during the 4th quarter valued at $59,000. 19.33% of the stock is owned by institutional investors and hedge funds.

Rio Tinto Group Stock Down 2.5 %

NYSE:RIO opened at $62.33 on Friday. Rio Tinto Group has a 12-month low of $57.85 and a 12-month high of $74.24. The company has a quick ratio of 1.16, a current ratio of 1.63 and a debt-to-equity ratio of 0.23. The firm has a market capitalization of $78.10 billion, a P/E ratio of 9.66, a P/E/G ratio of 0.42 and a beta of 0.60. The stock’s fifty day simple moving average is $61.12 and its 200-day simple moving average is $62.90.

Rio Tinto Group Increases Dividend

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

Analysts Set New Price Targets

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

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.