Eaton Vance Management Reduces Position in Rio Tinto Group (NYSE:RIO)


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Eaton Vance Management reduced its stake in Rio Tinto Group (NYSE:RIO) by 49.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 536,669 shares of the mining company’s stock after selling 519,160 shares during the quarter. Eaton Vance Management’s holdings in Rio Tinto Group were worth $40,368,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in RIO. Fisher Asset Management LLC grew its stake in shares of Rio Tinto Group by 3.2% in the 4th quarter. Fisher Asset Management LLC now owns 12,165,772 shares of the mining company’s stock valued at $915,109,000 after purchasing an additional 371,849 shares during the last quarter. Lazard Asset Management LLC grew its stake in shares of Rio Tinto Group by 6,978.9% in the 4th quarter. Lazard Asset Management LLC now owns 205,853 shares of the mining company’s stock valued at $15,483,000 after purchasing an additional 202,945 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Rio Tinto Group by 6.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,141,974 shares of the mining company’s stock valued at $236,339,000 after purchasing an additional 201,765 shares during the last quarter. Voloridge Investment Management LLC purchased a new position in shares of Rio Tinto Group in the 3rd quarter valued at approximately $10,452,000. Finally, Morgan Stanley grew its stake in shares of Rio Tinto Group by 21.3% in the 4th quarter. Morgan Stanley now owns 905,780 shares of the mining company’s stock valued at $68,133,000 after purchasing an additional 159,192 shares during the last quarter. Institutional investors own 7.53% of the company’s stock.

RIO has been the subject of several recent analyst reports. Credit Suisse Group raised Rio Tinto Group from a “neutral” rating to an “outperform” rating in a report on Tuesday, February 2nd. Deutsche Bank Aktiengesellschaft cut Rio Tinto Group from a “buy” rating to a “hold” rating in a report on Wednesday, January 13th. UBS Group reissued a “neutral” rating on shares of Rio Tinto Group in a report on Thursday, February 18th. Morgan Stanley reissued an “equal weight” rating on shares of Rio Tinto Group in a report on Wednesday, March 24th. Finally, JPMorgan Chase & Co. reissued an “overweight” rating on shares of Rio Tinto Group in a report on Friday, March 5th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and eight have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $70.00.

Shares of RIO stock opened at $80.02 on Thursday. Rio Tinto Group has a 1 year low of $44.11 and a 1 year high of $92.85. The stock has a market cap of $99.87 billion, a PE ratio of 12.64 and a beta of 0.67. The stock has a fifty day moving average price of $82.33 and a 200 day moving average price of $73.12. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.23 and a current ratio of 1.61.

The business also recently declared a semi-annual dividend, which will be paid on Thursday, April 15th. Stockholders of record on Friday, March 5th will be issued a $0.93 dividend. The ex-dividend date is Thursday, March 4th. This represents a dividend yield of 4.4%. Rio Tinto Group’s dividend payout ratio (DPR) is 97.63%.

Rio Tinto Group Profile

Rio Tinto Group engages in exploring, mining, and processing mineral resources worldwide. The company offers aluminum, silver, molybdenum, copper, diamonds, gold, borates, titanium dioxide, salt, iron ore, and uranium. It is also involved in the alumina production; primary aluminum smelting; bauxite mining; alumina refining; and ilmenite, rutile, and zircon mining, as well as provision of gypsum.

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Institutional Ownership by Quarter for Rio Tinto Group (NYSE:RIO)

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