DRW Securities LLC Grows Position in Rio Tinto Group (NYSE:RIO)

DRW Securities LLC increased its position in Rio Tinto Group (NYSE:RIO) by 249.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 15,254 shares of the mining company’s stock after purchasing an additional 10,890 shares during the period. DRW Securities LLC’s holdings in Rio Tinto Group were worth $1,006,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in RIO. Northwest Investment Counselors LLC purchased a new stake in shares of Rio Tinto Group in the 1st quarter worth about $26,000. Geneos Wealth Management Inc. grew 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. GHP Investment Advisors Inc. purchased a new stake in Rio Tinto Group in the second quarter worth about $26,000. YHB Investment Advisors Inc. purchased a new position in shares of Rio Tinto Group during the first quarter valued at approximately $29,000. Finally, LifeSteps Financial Inc. bought a new stake in shares of Rio Tinto Group in the 1st quarter worth approximately $33,000. Institutional investors own 19.33% of the company’s stock.

Analyst Ratings Changes

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

Rio Tinto Group Stock Performance

RIO opened at $63.57 on Monday. The company’s 50-day simple moving average is $63.10 and its two-hundred day simple moving average is $65.67. Rio Tinto Group has a 52-week low of $59.35 and a 52-week high of $75.09. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.16 and a current ratio of 1.70.

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 issued a $1.77 dividend. This represents a yield of 6.8%. The ex-dividend date is Friday, August 16th.

About Rio Tinto Group

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.