Rio Tinto Group (NYSE:RIO) Position Boosted by Rhumbline Advisers

Rhumbline Advisers increased its position in Rio Tinto Group (NYSE:RIO) by 4.2% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 23,872 shares of the mining company’s stock after purchasing an additional 962 shares during the period. Rhumbline Advisers’ holdings in Rio Tinto Group were worth $1,574,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Russell Investments Group Ltd. grew its position in shares of Rio Tinto Group by 0.4% in the 1st quarter. Russell Investments Group Ltd. now owns 39,964 shares of the mining company’s stock worth $2,547,000 after acquiring an additional 147 shares in the last quarter. Geneos Wealth Management Inc. boosted its holdings in Rio Tinto Group by 55.4% in the first quarter. Geneos Wealth Management Inc. now owns 415 shares of the mining company’s stock worth $26,000 after purchasing an additional 148 shares during the period. EverSource Wealth Advisors LLC boosted its holdings in Rio Tinto Group by 8.5% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,922 shares of the mining company’s stock worth $143,000 after purchasing an additional 150 shares during the period. Optas LLC increased its stake in Rio Tinto Group by 4.2% during the first quarter. Optas LLC now owns 3,833 shares of the mining company’s stock valued at $244,000 after purchasing an additional 154 shares during the last quarter. Finally, Eagle Bluffs Wealth Management LLC raised its holdings in shares of Rio Tinto Group by 1.1% during the second quarter. Eagle Bluffs Wealth Management LLC now owns 14,997 shares of the mining company’s stock worth $989,000 after purchasing an additional 163 shares during the period. 19.33% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. HSBC raised shares of Rio Tinto Group from a “hold” rating to a “buy” rating in a research report on Tuesday, July 23rd. Berenberg Bank cut Rio Tinto Group from a “buy” rating to a “hold” rating in a research report on Thursday, June 27th. Royal Bank of Canada upgraded Rio Tinto Group to a “hold” rating in a research report on Wednesday, July 31st. Hsbc Global Res upgraded Rio Tinto Group to a “strong-buy” rating in a research note on Tuesday, July 23rd. Finally, StockNews.com upgraded Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a research note on Friday, September 6th. Five research analysts have rated the stock with a hold rating, four have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy”.

Rio Tinto Group Trading Down 2.5 %

Shares of RIO stock opened at $63.58 on Friday. Rio Tinto Group has a 1 year low of $59.35 and a 1 year high of $75.09. The stock has a fifty day moving average of $63.10 and a two-hundred day moving average of $65.66. The company has a current ratio of 1.70, a quick ratio of 1.16 and a debt-to-equity ratio of 0.23.

Rio Tinto Group Cuts Dividend

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

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.