Frank Rimerman Advisors LLC Purchases 11,371 Shares of Rio Tinto Group (NYSE:RIO)

Frank Rimerman Advisors LLC boosted its holdings in shares of Rio Tinto Group (NYSE:RIO) by 1,522.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 12,118 shares of the mining company’s stock after acquiring an additional 11,371 shares during the period. Frank Rimerman Advisors LLC’s holdings in Rio Tinto Group were worth $799,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Wellington Management Group LLP grew its position in shares of Rio Tinto Group by 7.1% in the 4th quarter. Wellington Management Group LLP now owns 24,838,524 shares of the mining company’s stock valued at $1,849,476,000 after purchasing an additional 1,644,751 shares during the period. Fisher Asset Management LLC boosted its holdings in shares of Rio Tinto Group by 2.9% in the fourth quarter. Fisher Asset Management LLC now owns 16,019,748 shares of the mining company’s stock valued at $1,192,830,000 after buying an additional 449,536 shares during the period. Earnest Partners LLC increased its position in shares of Rio Tinto Group by 1.4% during the first quarter. Earnest Partners LLC now owns 1,395,961 shares of the mining company’s stock worth $88,979,000 after acquiring an additional 19,334 shares in the last quarter. National Bank of Canada FI raised its holdings in shares of Rio Tinto Group by 296.2% during the first quarter. National Bank of Canada FI now owns 1,022,765 shares of the mining company’s stock worth $71,382,000 after acquiring an additional 764,635 shares during the period. Finally, MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH lifted its position in Rio Tinto Group by 22.7% in the 1st quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 978,859 shares of the mining company’s stock valued at $62,392,000 after acquiring an additional 180,874 shares in the last quarter. 19.33% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have issued reports on RIO shares. StockNews.com raised Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a research note on Friday, September 6th. Royal Bank of Canada raised Rio Tinto Group to a “hold” rating in a research report on Wednesday, July 31st. HSBC raised Rio Tinto Group from a “hold” rating to a “buy” rating in a research report on Tuesday, July 23rd. Hsbc Global Res upgraded shares of Rio Tinto Group to a “strong-buy” rating in a report on Tuesday, July 23rd. Finally, Berenberg Bank cut shares of Rio Tinto Group from a “buy” rating to a “hold” rating in a report on Thursday, June 27th. 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 currently has a consensus rating of “Moderate Buy”.

Rio Tinto Group Stock Performance

Shares of Rio Tinto Group stock opened at $64.57 on Tuesday. 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 has a 12-month low of $59.35 and a 12-month high of $75.09. The business’s 50 day moving average is $63.04 and its 200-day moving average is $65.68.

Rio Tinto Group Cuts Dividend

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

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.