Posted by admin on Aug 15th, 2022 
Commerce Bank grew its stake in Rio Tinto Group (NYSE:RIO – Get Rating) by 20.1% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 11,901 shares of the mining company’s stock after buying an additional 1,993 shares during the quarter. Commerce Bank’s holdings in Rio Tinto Group were worth $957,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also modified their holdings of the stock. Renaissance Technologies LLC lifted its holdings in Rio Tinto Group by 460.7% in the fourth quarter. Renaissance Technologies LLC now owns 1,322,100 shares of the mining company’s stock valued at $88,501,000 after acquiring an additional 1,086,300 shares during the period. SG Americas Securities LLC acquired a new position in shares of Rio Tinto Group in the 4th quarter valued at $57,722,000. Cullen Capital Management LLC boosted its holdings in Rio Tinto Group by 172.3% during the first quarter. Cullen Capital Management LLC now owns 1,181,237 shares of the mining company’s stock worth $94,971,000 after buying an additional 747,485 shares in the last quarter. Capital World Investors increased its holdings in Rio Tinto Group by 8.1% in the fourth quarter. Capital World Investors now owns 8,140,847 shares of the mining company’s stock valued at $544,945,000 after buying an additional 609,709 shares in the last quarter. Finally, Marshall Wace LLP increased its holdings in Rio Tinto Group by 7,897.3% in the fourth quarter. Marshall Wace LLP now owns 598,440 shares of the mining company’s stock valued at $40,061,000 after buying an additional 590,957 shares in the last quarter. Institutional investors and hedge funds own 10.84% of the company’s stock.
Shares of RIO opened at $60.20 on Monday. Rio Tinto Group has a 52-week low of $53.83 and a 52-week high of $84.69. The company has a quick ratio of 1.34, a current ratio of 1.79 and a debt-to-equity ratio of 0.21. The stock has a fifty day simple moving average of $62.12 and a two-hundred day simple moving average of $70.61.
The company also recently disclosed a semi-annual dividend, which will be paid on Thursday, September 22nd. Investors of record on Friday, August 12th will be given a dividend of $2.67 per share. This represents a yield of 11.4%. The ex-dividend date of this dividend is Thursday, August 11th.
A number of analysts have recently commented on the company. StockNews.com cut Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a research report on Thursday, May 12th. Citigroup upgraded shares of Rio Tinto Group from a “neutral” rating to a “buy” rating in a research report on Wednesday, April 20th. Jefferies Financial Group raised shares of Rio Tinto Group from a “hold” rating to a “buy” rating in a research note on Tuesday, June 7th. Morgan Stanley lowered shares of Rio Tinto Group from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, June 22nd. Finally, Berenberg Bank boosted their price objective on Rio Tinto Group from GBX 4,100 ($49.54) to GBX 4,300 ($51.96) in a research note on Friday, July 29th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $4,086.67.
(Get Rating)
Rio Tinto Group engages in exploring, mining, and processing mineral resources worldwide. The company offers aluminum, copper, diamonds, gold, borates, titanium dioxide, salt, iron ore, and lithium. It also owns and operates open pit and underground mines, mills, refineries, smelters, power stations, and research and service facilities.
Want to see what other hedge funds are holding RIO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Rio Tinto Group (NYSE:RIO – Get Rating).
Receive News & Ratings for Rio Tinto Group Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Rio Tinto Group and related companies with MarketBeat.com’s FREE daily email newsletter.
Commerce Bank Sells 1,551 Shares of Fifth Third Bancorp (NASDAQ:FITB)
Commerce Bank Raises Holdings in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC)
