PFG Investments LLC Has $244,000 Stock Position in Rio Tinto Group (NYSE:RIO)

PFG Investments LLC trimmed its position in Rio Tinto Group (NYSE:RIO) by 24.4% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,701 shares of the mining company’s stock after selling 1,194 shares during the quarter. PFG Investments LLC’s holdings in Rio Tinto Group were worth $244,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the company. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund acquired a new stake in shares of Rio Tinto Group in the second quarter worth $48,129,000. Caprock Group LLC raised its stake in Rio Tinto Group by 438.1% during the 2nd quarter. Caprock Group LLC now owns 23,500 shares of the mining company’s stock valued at $1,549,000 after purchasing an additional 19,133 shares during the last quarter. Anchor Capital Advisors LLC acquired a new position in Rio Tinto Group during the 2nd quarter valued at $2,530,000. Gallacher Capital Management LLC raised its stake in Rio Tinto Group by 11.2% during the 2nd quarter. Gallacher Capital Management LLC now owns 5,254 shares of the mining company’s stock valued at $346,000 after purchasing an additional 531 shares during the last quarter. Finally, Cullen Frost Bankers Inc. increased its holdings in Rio Tinto Group by 66.0% in the 2nd quarter. Cullen Frost Bankers Inc. now owns 956 shares of the mining company’s stock valued at $63,000 after buying an additional 380 shares during the period. 19.33% of the stock is currently owned by institutional investors and hedge funds.

Rio Tinto Group Trading Up 1.0 %

RIO opened at $62.54 on Friday. The firm’s 50-day simple moving average is $63.51 and its 200-day simple moving average is $65.70. 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 has a twelve month low of $59.35 and a twelve month high of $75.09.

Rio Tinto Group Cuts Dividend

The company also recently announced a semi-annual dividend, which will be paid on Thursday, September 26th. Stockholders of record on Friday, August 16th will be issued a $1.77 dividend. This represents a dividend yield of 6.8%. The ex-dividend date of this dividend is Friday, August 16th.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on RIO. Citigroup lowered shares of Rio Tinto Group from a “buy” rating to a “neutral” rating in a report on Monday, May 20th. StockNews.com raised shares of Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a report on Friday, September 6th. Royal Bank of Canada raised shares of Rio Tinto Group to a “hold” rating in a report on Wednesday, July 31st. Berenberg Bank lowered shares of Rio Tinto Group from a “buy” rating to a “hold” rating in a report on Thursday, June 27th. Finally, Hsbc Global Res raised shares of Rio Tinto Group to a “strong-buy” rating in a report on Tuesday, July 23rd. Five research analysts have rated the stock with a hold rating, four have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy”.

Rio Tinto Group Company Profile

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.