Rio Tinto Group (NYSE:RIO) Shares Purchased by Vise Technologies Inc.

Vise Technologies Inc. boosted its position in Rio Tinto Group (NYSE:RIO) by 4.9% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 14,606 shares of the mining company’s stock after purchasing an additional 679 shares during the quarter. Vise Technologies Inc.’s holdings in Rio Tinto Group were worth $859,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Fisher Asset Management LLC raised its stake in Rio Tinto Group by 0.4% in the 4th quarter. Fisher Asset Management LLC now owns 17,604,463 shares of the mining company’s stock valued at $1,035,319,000 after purchasing an additional 76,368 shares during the last quarter. Franklin Resources Inc. increased its stake in shares of Rio Tinto Group by 1.4% in the 4th quarter. Franklin Resources Inc. now owns 5,115,476 shares of the mining company’s stock worth $300,841,000 after acquiring an additional 70,131 shares during the last quarter. FMR LLC increased its stake in shares of Rio Tinto Group by 24.6% in the 4th quarter. FMR LLC now owns 1,721,690 shares of the mining company’s stock worth $101,253,000 after acquiring an additional 339,924 shares during the last quarter. Northern Trust Corp increased its stake in shares of Rio Tinto Group by 18.9% in the 4th quarter. Northern Trust Corp now owns 1,603,037 shares of the mining company’s stock worth $94,275,000 after acquiring an additional 255,151 shares during the last quarter. Finally, Deutsche Bank AG increased its stake in shares of Rio Tinto Group by 143,872.8% in the 4th quarter. Deutsche Bank AG now owns 1,264,081 shares of the mining company’s stock worth $74,341,000 after acquiring an additional 1,263,203 shares during the last quarter. 19.33% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

RIO has been the subject of a number of recent research reports. JPMorgan Chase & Co. initiated coverage on Rio Tinto Group in a research note on Tuesday, March 18th. They issued an “overweight” rating for the company. Morgan Stanley downgraded Rio Tinto Group from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, April 9th. Barclays reaffirmed an “overweight” rating on shares of Rio Tinto Group in a research note on Wednesday, April 16th. DZ Bank raised Rio Tinto Group from a “hold” rating to a “strong-buy” rating in a research note on Thursday, March 27th. Finally, Wall Street Zen downgraded Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a research note on Monday, April 28th. Three analysts have rated the stock with a hold rating, six have given a buy rating and three have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Rio Tinto Group has an average rating of “Buy” and an average price target of $73.00.

Rio Tinto Group Stock Performance

NYSE RIO opened at $61.57 on Friday. The stock has a market cap of $77.20 billion, a PE ratio of 9.54, a P/E/G ratio of 0.42 and a beta of 0.73. The company has a current ratio of 1.63, a quick ratio of 1.16 and a debt-to-equity ratio of 0.23. Rio Tinto Group has a twelve month low of $51.67 and a twelve month high of $72.08. The stock has a fifty day simple moving average of $59.64 and a 200-day simple moving average of $60.89.

Rio Tinto Group Increases Dividend

The firm also recently declared a semi-annual dividend, which was paid on Thursday, April 17th. Stockholders of record on Friday, March 7th were issued a dividend of $2.23 per share. The ex-dividend date of this dividend was Friday, March 7th. This is a boost 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%.

About Rio Tinto Group

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.