Saturna Capital CORP Acquires 8,800 Shares of Rio Tinto Group (NYSE:RIO)

Saturna Capital CORP increased its holdings in Rio Tinto Group (NYSE:RIO) by 18.7% in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 55,835 shares of the mining company’s stock after buying an additional 8,800 shares during the quarter. Saturna Capital CORP’s holdings in Rio Tinto Group were worth $4,684,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. MV Capital Management Inc. bought a new stake in Rio Tinto Group in the 2nd quarter worth about $25,000. First National Bank of South Miami increased its holdings in Rio Tinto Group by 409.7% in the 1st quarter. First National Bank of South Miami now owns 367 shares of the mining company’s stock worth $28,000 after buying an additional 295 shares in the last quarter. Stonebridge Capital Advisors LLC bought a new stake in Rio Tinto Group in the 1st quarter worth about $33,000. Credit Agricole S A bought a new stake in Rio Tinto Group in the 1st quarter worth about $39,000. Finally, Twin Lakes Capital Management LLC bought a new stake in Rio Tinto Group in the 1st quarter worth about $39,000. Institutional investors own 8.01% of the company’s stock.

Shares of RIO stock traded down $0.39 during trading hours on Tuesday, reaching $65.68. 230,596 shares of the company traded hands, compared to its average volume of 2,517,729. Rio Tinto Group has a 12-month low of $55.39 and a 12-month high of $95.97. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.13 and a quick ratio of 1.77. The company has a market cap of $81.95 billion, a P/E ratio of 8.58, a P/E/G ratio of 1.45 and a beta of 0.59. The firm has a 50-day moving average price of $79.00 and a 200 day moving average price of $82.37.

The business also recently disclosed a special dividend, which will be paid on Thursday, September 23rd. Stockholders of record on Friday, August 13th will be given a dividend of $1.85 per share. This is a boost from Rio Tinto Group’s previous special dividend of $1.20. This represents a dividend yield of 6.9%. The ex-dividend date is Thursday, August 12th. Rio Tinto Group’s payout ratio is presently 97.66%.

Several research firms recently commented on RIO. Jefferies Financial Group reiterated a “buy” rating and issued a $112.00 price objective on shares of Rio Tinto Group in a report on Monday, August 2nd. Morgan Stanley restated an “equal weight” rating on shares of Rio Tinto Group in a research note on Friday. Zacks Investment Research downgraded Rio Tinto Group from a “hold” rating to a “strong sell” rating in a research note on Thursday, September 9th. Berenberg Bank restated a “hold” rating on shares of Rio Tinto Group in a research note on Thursday, July 8th. Finally, The Goldman Sachs Group upgraded Rio Tinto Group from a “neutral” rating to a “buy” rating and set a $144.40 price target for the company in a research note on Friday, July 16th. Four equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, Rio Tinto Group presently has a consensus rating of “Hold” and an average target price of $108.60.

About Rio Tinto Group

Rio Tinto Plc engages in the exploration, mining, and processing of mineral resources. It operates through the following business segments: Iron Ore, Aluminium, Copper and Diamonds, Energy and Minerals, and Other Operations. The Iron Ore segment supplies global seaborne iron ore trade. The Aluminium segment produces bauxite, alumina and primary aluminum.

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

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