Rio Tinto Group (NYSE:RIO) Shares Purchased by Foresight Global Investors Inc.

Foresight Global Investors Inc. increased its stake in Rio Tinto Group (NYSE:RIO) by 15.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,670 shares of the mining company’s stock after acquiring an additional 2,725 shares during the period. Rio Tinto Group makes up approximately 0.9% of Foresight Global Investors Inc.’s investment portfolio, making the stock its 13th biggest position. Foresight Global Investors Inc.’s holdings in Rio Tinto Group were worth $1,539,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. AdvisorNet Financial Inc increased its stake in Rio Tinto Group by 785.7% in the 4th quarter. AdvisorNet Financial Inc now owns 372 shares of the mining company’s stock worth $28,000 after purchasing an additional 330 shares in the last quarter. SouthState Corp purchased a new stake in shares of Rio Tinto Group in the 3rd quarter valued at approximately $32,000. Parkside Financial Bank & Trust boosted its stake in Rio Tinto Group by 39.3% in the 4th quarter. Parkside Financial Bank & Trust now owns 553 shares of the mining company’s stock worth $41,000 after purchasing an additional 156 shares during the period. Financial Management Professionals Inc. grew its position in Rio Tinto Group by 250.6% during the 4th quarter. Financial Management Professionals Inc. now owns 617 shares of the mining company’s stock worth $46,000 after purchasing an additional 441 shares in the last quarter. Finally, Bruce G. Allen Investments LLC acquired a new stake in Rio Tinto Group during the 4th quarter valued at $47,000. Institutional investors own 19.33% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the stock. The Goldman Sachs Group initiated coverage on Rio Tinto Group in a research report on Friday, January 12th. They set a “buy” rating for the company. 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 assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Rio Tinto Group has a consensus rating of “Moderate Buy” and a consensus target price of $72.00.

Rio Tinto Group Stock Performance

Shares of NYSE RIO traded up $0.97 during midday trading on Thursday, hitting $69.99. The stock had a trading volume of 2,213,763 shares, compared to its average volume of 2,923,841. The company has a quick ratio of 1.17, a current ratio of 1.69 and a debt-to-equity ratio of 0.23. Rio Tinto Group has a fifty-two week low of $58.27 and a fifty-two week high of $75.09. The company’s 50-day simple moving average is $65.36 and its 200 day simple moving average is $67.65.

Rio Tinto Group Increases Dividend

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

Rio Tinto Group Company 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.