West Family Investments Inc. Grows Position in Rio Tinto Group (NYSE:RIO)

West Family Investments Inc. raised its position in Rio Tinto Group (NYSE:RIO) by 11.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,729 shares of the mining company’s stock after purchasing an additional 388 shares during the quarter. West Family Investments Inc.’s holdings in Rio Tinto Group were worth $278,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. AdvisorNet Financial Inc raised its holdings in shares of Rio Tinto Group by 785.7% during the 4th quarter. AdvisorNet Financial Inc now owns 372 shares of the mining company’s stock valued at $28,000 after buying an additional 330 shares during the period. SouthState Corp acquired a new stake in Rio Tinto Group during the 3rd quarter valued at approximately $32,000. Parkside Financial Bank & Trust grew its stake in Rio Tinto Group by 39.3% during the 4th quarter. Parkside Financial Bank & Trust now owns 553 shares of the mining company’s stock valued at $41,000 after purchasing an additional 156 shares in the last quarter. Financial Management Professionals Inc. grew its stake 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 valued at $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 approximately $47,000. 19.33% of the stock is currently owned by hedge funds and other institutional investors.

Rio Tinto Group Stock Performance

Shares of RIO traded up $0.38 during mid-day trading on Thursday, hitting $67.88. The stock had a trading volume of 1,064,639 shares, compared to its average volume of 2,948,620. The company’s fifty day simple moving average is $64.94 and its two-hundred day simple moving average is $67.42. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.69 and a quick ratio of 1.17. Rio Tinto Group has a fifty-two week low of $58.27 and a fifty-two week high of $75.09.

Rio Tinto Group Increases Dividend

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

Analysts Set New Price Targets

A number of brokerages have weighed in on RIO. The Goldman Sachs Group began coverage on Rio Tinto Group in a research note on Friday, January 12th. They set a “buy” rating for the company. Liberum Capital restated a “hold” rating on shares of Rio Tinto Group in a research note on Tuesday, March 5th. Finally, StockNews.com upgraded Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a research note on Monday. Two equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $72.00.

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.