Guggenheim Capital LLC Lowers Position in Rio Tinto Group (NYSE:RIO)

Guggenheim Capital LLC lessened its stake in Rio Tinto Group (NYSE:RIO) by 2.0% during the fourth quarter, Holdings Channel reports. The firm owned 30,215 shares of the mining company’s stock after selling 611 shares during the period. Guggenheim Capital LLC’s holdings in Rio Tinto Group were worth $1,777,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Thurston Springer Miller Herd & Titak Inc. grew its position in Rio Tinto Group by 63.9% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 500 shares of the mining company’s stock valued at $29,000 after acquiring an additional 195 shares during the period. Rakuten Securities Inc. lifted 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 purchasing an additional 211 shares in the last quarter. Mechanics Financial Corp acquired a new stake in Rio Tinto Group during the 4th quarter worth approximately $29,000. Golden State Wealth Management LLC purchased a new position in shares of Rio Tinto Group in the 4th quarter valued at $47,000. Finally, HHM Wealth Advisors LLC purchased a new position in Rio Tinto Group in the fourth quarter valued at about $50,000. 19.33% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. DZ Bank raised shares of Rio Tinto Group from a “hold” rating to a “strong-buy” rating in a research report on Thursday, March 27th. JPMorgan Chase & Co. started coverage on shares of Rio Tinto Group in a research report on Tuesday, March 18th. They issued an “overweight” rating for the company. StockNews.com upgraded Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a research note on Sunday. Jefferies Financial Group dropped their price objective on Rio Tinto Group from $83.00 to $73.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Finally, Morgan Stanley downgraded shares of Rio Tinto Group from an “overweight” rating to an “equal weight” rating in a research report on Wednesday, April 9th. Four analysts have rated the stock with a hold rating, five have assigned a buy rating and four have given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $73.00.

Rio Tinto Group Stock Up 1.7 %

RIO stock opened at $58.15 on Monday. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.63 and a quick ratio of 1.16. The firm has a fifty day moving average price of $60.55 and a two-hundred day moving average price of $61.79. The firm has a market cap of $72.91 billion, a price-to-earnings ratio of 9.02, a PEG ratio of 0.42 and a beta of 0.66. Rio Tinto Group has a 1-year low of $51.67 and a 1-year high of $74.24.

Rio Tinto Group Increases Dividend

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