Dimensional Fund Advisors LP Raises Stake in Rio Tinto Group (NYSE:RIO)

Dimensional Fund Advisors LP boosted its holdings in Rio Tinto Group (NYSE:RIO – Free Report) by 78.3% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 858,050 shares of the mining company’s stock after acquiring an additional 376,778 shares during the quarter. Dimensional Fund Advisors LP’s holdings in Rio Tinto Group were worth $56,565,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the business. Wellington Management Group LLP boosted its holdings in shares of Rio Tinto Group by 7.1% in the 4th quarter. Wellington Management Group LLP now owns 24,838,524 shares of the mining company’s stock, valued at $1,849,476,000 after purchased an additional 1,644,751 shares in the last quarter. Fisher Asset Management LLC raised its stake in Rio Tinto Group by 2.9% during the 4th quarter. Fisher Asset Management LLC now owns 16,019,748 shares of the mining company’s stock worth $1,192,830,000 after bought an additional 449,536 shares in the last quarter. Earnest Partners LLC raised its stake in Rio Tinto Group by 1.4% in the first quarter. Earnest Partners LLC now owns 1,395,961 shares of the mining company’s stock worth $88,979,000 after purchasing an additional 19,334 shares in the last quarter. National Bank of Canada FI raised its stake in Rio Tinto Group by 296.2% in the first quarter. National Bank of Canada FI now owns 1,022,765 shares of the mining company’s stock worth $71,382,000 after purchasing an additional 764,635 shares in the last quarter. Finally, MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH raised its stake in Rio Tinto Group by 22.7% in the first quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 978,859 shares of the mining company’s stock worth $62,392,000 after buying an additional 180,874 shares in the last quarter. Hedge funds and other institutional investors own 19.33% of the company’s shares.

Rio Tinto Group stocks rose 0.7%

NYSE RIO opened at $71.23 on Friday. Rio Tinto Group has a 1 year low of $59.35 and a 1 year high of $75.09. The company has a 50-day moving average price of $63.38 and a 200-day moving average price of $65.85. The company has a quick ratio of 1.16, a current ratio of 1.70, and a debt-to-equity ratio of 0.23.

Rio Tinto Group cuts dividends

The company also recently disclosed a semiannual dividend, which was paid on Thursday, September 26th. Investors of record on Friday, August 16th were paid a $1.77 dividend. This represents a yield of 6.8%. The ex-dividend date of this dividend was Friday, August 16.

Analysts on Wall Street are forecasting an increase

RIO has been the subject of a number of research reports. Berenberg Bank downgraded Rio Tinto Group from a “buy” rating to a “hold” rating in a research note on Thursday, June 27th. Hsbc Global Res raised Rio Tinto Group to a “strong-buy” rating in a research report on Tuesday, July 23rd. Royal Bank of Canada raised Rio Tinto Group to a “hold” rating in a research report on Wednesday, July 31st. HSBC raised Rio Tinto Group from a “hold” rating to a “buy” rating in a research report on Tuesday, July 23rd. Finally, StockNews.com raised Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a research report on Friday, September 6th. Five analysts have rated the stock with a hold rating, four have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy”.

Check out the latest stock analysis on Rio Tinto Group

Rio Tinto Group Company Profile

(Free Report)

Rio Tinto Group is engaged in the exploration, exploitation and processing of mineral resources around the world. The company operates through iron ore, aluminum, copper and minerals segments. The Iron Ore segment engages in the mining of iron ore and the production of salt and gypsum in Western Australia. The Aluminum Segment is involved in the exploitation of bauxite; alumina refining; and aluminum smelting.

See Also

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