5 Dividend Stocks to Buy According to Billionaire Steve Cohen

1. Rio Tinto Group (NYSE:RIO)

Stake Value of Point72 Asset Management: $3,819,000

Percentage of Point72 Asset Management’s 13F Portfolio: 0.01

Number of Hedge Fund Holders: 20

Dividend Yield as of December 12: 11.73%

Rio Tinto Group (NYSE:RIO) is involved in the exploration, mining, and processing of mineral resources worldwide. The company offers aluminum, copper, diamonds, gold, borates, titanium dioxide, salt, iron ore, and uranium. This November, the company announced its plans on expanding its smelter site in Canada, which will maximize low-carbon aluminum production.

By the end of the third quarter of 2021, 20 hedge funds had stakes in Rio Tinto Group (NYSE:RIO) that exceeded $1.33 billion. Mr. Cohen’s stake in the company was valued at $3.81 million, which covers 0.01% of Point72 Asset Management’s 13F portfolio.

On December 9th, Morgan Stanley analyst Alain Gabriel upgraded Rio Tinto Group (NYSE:RIO) to Overweight from Equal Weight.

You can also take a look at 10 Best Oil Stocks to Buy Amid Post-COVID Demand Boom and Price Volatility and 15 Best Energy Stocks to Buy Now.

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