Foresight Global Investors Inc. Increases Holdings in Rio Tinto Group (NYSE:RIO)

Foresight Global Investors Inc. increased its stake in shares of Rio Tinto Group (NYSE:RIO) by 15.2% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 20,670 shares of the mining company’s stock after purchasing an additional 2,725 shares during the period. Rio Tinto Group accounts for 0.9% of Foresight Global Investors Inc.’s investment portfolio, making the stock its 13th largest position. Foresight Global Investors Inc.’s holdings in Rio Tinto Group were worth $1,539,000 as of its most recent filing with the SEC.

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

Rio Tinto Group Trading Up 1.4 %

Shares of NYSE:RIO traded up $0.97 on Thursday, reaching $69.99. 2,213,763 shares of the company traded hands, compared to its average volume of 2,923,841. The business’s 50-day simple moving average is $65.36 and its 200 day simple moving average is $67.65. 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 52 week low of $58.27 and a 52 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 given a dividend of $2.58 per share. This represents a yield of 6.6%. This is a positive change from Rio Tinto Group’s previous semi-annual dividend of $1.77. The ex-dividend date was Thursday, March 7th.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on RIO. Liberum Capital reissued a “hold” rating on shares of Rio Tinto Group in a research note on Tuesday, March 5th. The Goldman Sachs Group assumed coverage on Rio Tinto Group in a report on Friday, January 12th. They set a “buy” rating on the stock. Finally, StockNews.com upgraded Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a research report on Monday, April 29th. Two analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Rio Tinto Group presently has an average rating of “Moderate Buy” and a consensus 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.