American Century Companies Inc. grew its holdings in shares of Rio Tinto Group (NYSE:RIO – Free Report) by 1.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 213,832 shares of the mining company’s stock after purchasing an additional 3,385 shares during the period. American Century Companies Inc.’s holdings in Rio Tinto Group were worth $14,669,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Bank of New York Mellon Corp increased its stake in Rio Tinto Group by 23.9% during the 1st quarter. Bank of New York Mellon Corp now owns 61,529 shares of the mining company’s stock worth $4,947,000 after buying an additional 11,879 shares during the period. Cetera Advisor Networks LLC increased its position in shares of Rio Tinto Group by 33.8% during the first quarter. Cetera Advisor Networks LLC now owns 6,549 shares of the mining company’s stock worth $527,000 after acquiring an additional 1,654 shares during the period. BlackRock Inc. raised its stake in shares of Rio Tinto Group by 19.4% in the first quarter. BlackRock Inc. now owns 1,539,846 shares of the mining company’s stock valued at $123,803,000 after acquiring an additional 250,480 shares in the last quarter. Vontobel Holding Ltd. purchased a new position in Rio Tinto Group in the first quarter valued at $499,000. Finally, Cetera Investment Advisers grew its stake in Rio Tinto Group by 141.7% during the 1st quarter. Cetera Investment Advisers now owns 13,466 shares of the mining company’s stock worth $1,083,000 after purchasing an additional 7,894 shares in the last quarter. 10.03% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
A number of research firms have issued reports on RIO. Sanford C. Bernstein raised Rio Tinto Group from a “market perform” rating to an “outperform” rating in a research report on Friday, May 5th. Liberum Capital upgraded shares of Rio Tinto Group from a “sell” rating to a “hold” rating in a research note on Thursday, July 6th. StockNews.com started coverage on shares of Rio Tinto Group in a report on Thursday, August 17th. They issued a “buy” rating on the stock. JPMorgan Chase & Co. raised shares of Rio Tinto Group from an “underweight” rating to a “neutral” rating in a research report on Monday, May 15th. Finally, Citigroup raised Rio Tinto Group from a “neutral” rating to a “buy” rating in a report on Thursday, June 8th. One analyst has rated the stock with a sell rating, four have issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $72.00.
Rio Tinto Group Stock Up 2.2 %
Shares of NYSE:RIO opened at $63.86 on Friday. Rio Tinto Group has a 12 month low of $50.92 and a 12 month high of $80.51. The company has a current ratio of 1.99, a quick ratio of 1.37 and a debt-to-equity ratio of 0.25. The company’s fifty day moving average price is $63.88 and its 200 day moving average price is $65.44.
Rio Tinto Group Increases Dividend
The company also recently announced a semi-annual dividend, which will be paid on Thursday, September 21st. Stockholders of record on Friday, August 11th will be issued a $1.77 dividend. This is an increase from Rio Tinto Group’s previous semi-annual dividend of $1.10. This represents a dividend yield of 6%. The ex-dividend date is Thursday, August 10th.
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. It offers aluminum, copper, iron ore, diamonds, gold, borates, titanium dioxide, salt, silver, molybdenum, and lithium. The company also owns and operates open pit and underground mines, refineries, smelters, and concentrator facilities, as well as power stations, research, and service facilities.
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