Whittier Trust Co. reduced its stake in Rio Tinto Group (NYSE:RIO – Get Rating) by 11.9% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 14,956 shares of the mining company’s stock after selling 2,011 shares during the quarter. Whittier Trust Co.’s holdings in Rio Tinto Group were worth $1,065,000 at the end of the most recent reporting period.
Several other large investors have also recently added to or reduced their stakes in RIO. Arrowstreet Capital Limited Partnership increased its stake in Rio Tinto Group by 58.9% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 12,899,694 shares of the mining company’s stock worth $1,037,135,000 after buying an additional 4,783,488 shares during the period. Cowa LLC purchased a new stake in Rio Tinto Group during the 1st quarter worth approximately $26,000. Pendal Group Ltd purchased a new stake in Rio Tinto Group during the 4th quarter worth approximately $183,849,000. SPX Gestao de Recursos Ltda purchased a new stake in shares of Rio Tinto Group in the 3rd quarter valued at approximately $81,527,000. Finally, Wellington Management Group LLP increased its position in shares of Rio Tinto Group by 26.9% in the 1st quarter. Wellington Management Group LLP now owns 5,475,787 shares of the mining company’s stock valued at $440,253,000 after purchasing an additional 1,161,737 shares during the last quarter. 10.43% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
A number of equities research analysts have commented on the stock. BNP Paribas downgraded shares of Rio Tinto Group from an “outperform” rating to a “neutral” rating in a research report on Monday, February 13th. CLSA raised shares of Rio Tinto Group from an “underperform” rating to an “outperform” rating in a research report on Monday, March 13th. The Goldman Sachs Group raised shares of Rio Tinto Group from a “buy” rating to a “conviction-buy” rating in a research report on Thursday, March 2nd. StockNews.com raised shares of Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a research report on Monday, March 27th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Rio Tinto Group from GBX 5,310 ($65.95) to GBX 5,380 ($66.82) in a research report on Wednesday, January 18th. Three analysts have rated the stock with a sell rating, five have assigned a hold rating, four have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, Rio Tinto Group has a consensus rating of “Hold” and a consensus price target of $5,790.00.
Rio Tinto Group Trading Down 0.1 %
Rio Tinto Group Cuts Dividend
The firm also recently declared a semi-annual dividend, which will be paid on Thursday, April 20th. Investors of record on Friday, March 10th will be paid a dividend of $2.25 per share. This represents a yield of 9.8%. The ex-dividend date is Thursday, March 9th.
Rio Tinto Group Company Profile
Rio Tinto Plc engages in the exploration, mining, and processing of mineral resources. It operates through the following business segments: Iron Ore, Aluminium, Copper and Diamonds, Energy and Minerals, and Other Operations. The Iron Ore segment supplies global seaborne iron ore trade. The Aluminium segment produces bauxite, alumina and primary aluminum.
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