2,869 Shares in Rio Tinto Group (NYSE:RIO) Bought by RMR Wealth Builders

RMR Wealth Builders bought a new stake in Rio Tinto Group (NYSE:RIO) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 2,869 shares of the mining company’s stock, valued at approximately $214,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. AdvisorNet Financial Inc grew its position 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 acquiring an additional 330 shares during the last quarter. SouthState Corp bought a new position in Rio Tinto Group in the third quarter valued at about $32,000. Parkside Financial Bank & Trust grew its position in Rio Tinto Group by 39.3% in the fourth quarter. Parkside Financial Bank & Trust now owns 553 shares of the mining company’s stock valued at $41,000 after acquiring an additional 156 shares during the last quarter. Financial Management Professionals Inc. grew its position 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 acquiring an additional 441 shares during the last quarter. Finally, Bruce G. Allen Investments LLC bought a new position in Rio Tinto Group in the fourth quarter valued at about $47,000. Institutional investors own 19.33% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on RIO. The Goldman Sachs Group began coverage on Rio Tinto Group in a research report on Friday, January 12th. They issued a “buy” rating on the stock. StockNews.com upgraded Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a report on Monday, April 29th. Finally, Liberum Capital restated a “hold” rating on shares of Rio Tinto Group in a 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, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $72.00.

Rio Tinto Group Stock Down 1.5 %

RIO stock traded down $1.02 during trading on Wednesday, hitting $69.02. The company had a trading volume of 1,787,171 shares, compared to its average volume of 2,931,491. The business has a 50-day moving average of $65.26 and a 200-day moving average of $67.64. Rio Tinto Group has a one year low of $58.27 and a one year high of $75.09. 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 business also recently announced a semi-annual dividend, which was paid on Thursday, April 18th. Investors of record on Friday, March 8th were issued 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%.

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.