Horizon Kinetics Asset Management LLC Has $1.43 Million Position in Rio Tinto Group (NYSE:RIO)

Horizon Kinetics Asset Management LLC increased its stake in shares of Rio Tinto Group (NYSE:RIO) by 49.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,366 shares of the mining company’s stock after buying an additional 8,100 shares during the quarter. Horizon Kinetics Asset Management LLC’s holdings in Rio Tinto Group were worth $1,433,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Rakuten Securities Inc. boosted its holdings 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. Thurston Springer Miller Herd & Titak Inc. boosted its holdings in shares of 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 purchasing an additional 195 shares in the last quarter. Golden State Wealth Management LLC acquired a new stake in shares of Rio Tinto Group in the 4th quarter valued at $47,000. HHM Wealth Advisors LLC acquired a new stake in shares of Rio Tinto Group in the 4th quarter valued at $50,000. Finally, Newbridge Financial Services Group Inc. acquired a new stake in shares of Rio Tinto Group in the 4th quarter valued at $59,000. Institutional investors and hedge funds own 19.33% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on RIO. Clarkson Capital raised Rio Tinto Group to a “strong-buy” rating in a report on Friday, February 28th. Jefferies Financial Group dropped their price target on Rio Tinto Group from $83.00 to $73.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Finally, StockNews.com cut Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a research note on Saturday, February 22nd. Three research analysts have rated the stock with a hold rating, four have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $73.00.

Rio Tinto Group Stock Up 0.6 %

Shares of RIO opened at $63.44 on Tuesday. Rio Tinto Group has a 52 week low of $57.85 and a 52 week high of $74.24. The stock has a market capitalization of $79.49 billion, a price-to-earnings ratio of 9.84, a PEG ratio of 0.42 and a beta of 0.60. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.16 and a current ratio of 1.63. The stock has a fifty day moving average of $61.53 and a 200-day moving average of $62.84.

Rio Tinto Group Increases Dividend

The business also recently announced a semi-annual dividend, which will be paid on Thursday, April 17th. Investors of record on Friday, March 7th will be given a dividend of $2.23 per share. This is a positive change 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 is Friday, March 7th. Rio Tinto Group’s dividend payout ratio (DPR) 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.