Greenline Partners LLC Purchases 1,516 Shares of Rio Tinto Group (NYSE:RIO)

Greenline Partners LLC boosted its stake in shares of Rio Tinto Group (NYSE:RIO) by 1.1% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 134,924 shares of the mining company’s stock after acquiring an additional 1,516 shares during the period. Rio Tinto Group accounts for about 1.4% of Greenline Partners LLC’s portfolio, making the stock its 19th biggest position. Greenline Partners LLC’s holdings in Rio Tinto Group were worth $8,960,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in RIO. Northwest Investment Counselors LLC bought a new position in Rio Tinto Group during the 1st quarter worth $26,000. Geneos Wealth Management Inc. increased its stake in Rio Tinto Group by 55.4% during the 1st quarter. Geneos Wealth Management Inc. now owns 415 shares of the mining company’s stock worth $26,000 after acquiring an additional 148 shares during the period. GHP Investment Advisors Inc. bought a new position in Rio Tinto Group during the 2nd quarter worth $26,000. YHB Investment Advisors Inc. bought a new position in Rio Tinto Group during the 1st quarter worth $29,000. Finally, LifeSteps Financial Inc. bought a new position in Rio Tinto Group during the 1st quarter worth $33,000. Institutional investors own 19.33% of the company’s stock.

Rio Tinto Group Stock Performance

NYSE RIO opened at $63.57 on Friday. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.70 and a quick ratio of 1.16. Rio Tinto Group has a twelve month low of $59.35 and a twelve month high of $75.09. The business’s fifty day moving average is $63.10 and its 200 day moving average is $65.67.

Rio Tinto Group Cuts Dividend

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

Analyst Upgrades and Downgrades

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