Rio Tinto Group (NYSE:RIO) Position Lifted by Eschler Asset Management LLP

Eschler Asset Management LLP boosted its position in shares of Rio Tinto Group (NYSE:RIO) by 156.1% during the fourth quarter, Holdings Channel.com reports. The firm owned 95,475 shares of the mining company’s stock after buying an additional 58,200 shares during the quarter. Rio Tinto Group makes up approximately 13.2% of Eschler Asset Management LLP’s portfolio, making the stock its biggest position. Eschler Asset Management LLP’s holdings in Rio Tinto Group were worth $5,615,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently bought and sold shares of RIO. Thurston Springer Miller Herd & Titak Inc. raised its holdings in Rio Tinto Group by 63.9% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 500 shares of the mining company’s stock valued at $29,000 after buying an additional 195 shares during the period. Rakuten Securities Inc. raised its stake in shares of Rio Tinto Group by 74.8% in the 4th quarter. Rakuten Securities Inc. now owns 493 shares of the mining company’s stock valued at $29,000 after acquiring an additional 211 shares during the period. Mechanics Financial Corp acquired a new position in shares of Rio Tinto Group in the 4th quarter worth approximately $29,000. Golden State Wealth Management LLC purchased a new position in shares of Rio Tinto Group during the 4th quarter worth approximately $47,000. Finally, HHM Wealth Advisors LLC acquired a new stake in Rio Tinto Group in the 4th quarter valued at approximately $50,000. 19.33% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

RIO has been the subject of several research analyst reports. StockNews.com lowered Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a research report on Monday, April 28th. DZ Bank raised Rio Tinto Group from a “hold” rating to a “strong-buy” rating in a research report on Thursday, March 27th. Barclays reissued an “overweight” rating on shares of Rio Tinto Group in a research report on Wednesday, April 16th. JPMorgan Chase & Co. started coverage on shares of Rio Tinto Group in a report on Tuesday, March 18th. They issued an “overweight” rating for the company. Finally, Morgan Stanley lowered shares of Rio Tinto Group from an “overweight” rating to an “equal weight” rating in a report on Wednesday, April 9th. Four investment analysts have rated the stock with a hold rating, six have given a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $73.00.

Rio Tinto Group Stock Down 1.5 %

RIO stock opened at $59.14 on Friday. The company’s 50 day moving average price is $59.81 and its 200 day moving average price is $61.19. The firm has a market capitalization of $74.16 billion, a price-to-earnings ratio of 9.17, a PEG ratio of 0.42 and a beta of 0.73. Rio Tinto Group has a fifty-two week low of $51.67 and a fifty-two week high of $74.24. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.16 and a current ratio of 1.63.

Rio Tinto Group Increases Dividend

The company also recently disclosed a semi-annual dividend, which was paid on Thursday, April 17th. Shareholders of record on Friday, March 7th were given a $2.23 dividend. The ex-dividend date was Friday, March 7th. This is an increase from Rio Tinto Group’s previous semi-annual dividend of $1.77. This represents a dividend yield of 7%. Rio Tinto Group’s dividend payout ratio is currently 69.15%.

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.