Noesis Capital Mangement Corp Takes $223,000 Position in Rio Tinto Group (NYSE:RIO)

Noesis Capital Mangement Corp purchased a new position in shares of Rio Tinto Group (NYSE:RIO) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 3,000 shares of the mining company’s stock, valued at approximately $223,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Schechter Investment Advisors LLC lifted its holdings in shares of Rio Tinto Group by 10.9% in the 3rd quarter. Schechter Investment Advisors LLC now owns 8,732 shares of the mining company’s stock worth $556,000 after purchasing an additional 858 shares in the last quarter. International Assets Investment Management LLC bought a new position in shares of Rio Tinto Group in the fourth quarter valued at $7,954,000. Sei Investments Co. grew its holdings in shares of Rio Tinto Group by 18.3% during the third quarter. Sei Investments Co. now owns 721,662 shares of the mining company’s stock valued at $45,926,000 after buying an additional 111,623 shares during the last quarter. Morgan Stanley increased its position in shares of Rio Tinto Group by 2.7% during the third quarter. Morgan Stanley now owns 4,464,344 shares of the mining company’s stock worth $284,111,000 after acquiring an additional 118,706 shares in the last quarter. Finally, Kingswood Wealth Advisors LLC raised its holdings in shares of Rio Tinto Group by 88.2% in the 4th quarter. Kingswood Wealth Advisors LLC now owns 8,221 shares of the mining company’s stock worth $612,000 after acquiring an additional 3,852 shares during the last quarter. Institutional investors own 19.33% of the company’s stock.

Rio Tinto Group Stock Performance

Shares of Rio Tinto Group stock traded up $0.66 during trading hours on Friday, hitting $68.94. 3,193,760 shares of the company’s stock traded hands, compared to its average volume of 3,270,538. Rio Tinto Group has a 12-month low of $58.27 and a 12-month high of $75.09. The company has a current ratio of 1.69, a quick ratio of 1.17 and a debt-to-equity ratio of 0.23. The company has a fifty day simple moving average of $65.05 and a 200-day simple moving average of $67.46.

Rio Tinto Group Increases Dividend

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

Analyst Ratings Changes

A number of analysts have commented on RIO shares. Liberum Capital reissued a “hold” rating on shares of Rio Tinto Group in a report on Tuesday, March 5th. The Goldman Sachs Group assumed coverage on Rio Tinto Group in a research report on Friday, January 12th. They issued a “buy” rating for the company. Finally, StockNews.com raised shares of Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a report on Monday, April 29th. Two investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $72.00.

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.