Rio Tinto Group (NYSE:RIO) Sees Strong Trading Volume

Shares of Rio Tinto Group (NYSE:RIOGet Free Report) saw strong trading volume on Wednesday . 2,446,783 shares were traded during trading, a decline of 13% from the previous session’s volume of 2,816,434 shares.The stock last traded at $64.00 and had previously closed at $65.09.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. The Goldman Sachs Group started coverage on shares of Rio Tinto Group in a research report on Friday, January 12th. They set a “buy” rating on the stock. StockNews.com raised shares of Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a report on Wednesday, March 27th. Liberum Capital reissued a “hold” rating on shares of Rio Tinto Group in a report on Tuesday, March 5th. Finally, BNP Paribas raised shares of Rio Tinto Group from a “neutral” rating to an “outperform” rating in a report on Tuesday, December 5th. Two investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $72.00.

View Our Latest Stock Analysis on RIO

Rio Tinto Group Trading Down 0.8 %

The stock has a fifty day moving average price of $65.75 and a two-hundred day moving average price of $66.90. The company has a current ratio of 1.69, a quick ratio of 1.17 and a debt-to-equity ratio of 0.23.

Rio Tinto Group Increases Dividend

The firm also recently disclosed a semi-annual dividend, which will be paid on Thursday, April 18th. Investors of record on Friday, March 8th will be paid a $2.58 dividend. This represents a dividend yield of 6.6%. The ex-dividend date of this dividend is Thursday, March 7th. This is a positive change from Rio Tinto Group’s previous semi-annual dividend of $1.77.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of RIO. Bank of New York Mellon Corp increased its holdings in shares of 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 purchasing an additional 11,879 shares during the period. Cetera Advisor Networks LLC increased its stake in Rio Tinto Group by 33.8% in the first quarter. Cetera Advisor Networks LLC now owns 6,549 shares of the mining company’s stock valued at $527,000 after acquiring an additional 1,654 shares during the period. BlackRock Inc. increased its stake in 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 during the period. Vontobel Holding Ltd. bought a new stake in Rio Tinto Group in the first quarter valued at about $499,000. Finally, Cetera Investment Advisers increased its stake in Rio Tinto Group by 141.7% in the first quarter. Cetera Investment Advisers now owns 13,466 shares of the mining company’s stock valued at $1,083,000 after acquiring an additional 7,894 shares during the period. Institutional investors own 19.33% of the company’s stock.

About Rio Tinto Group

(Get Free Report)

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.

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