27,990 Shares in Rio Tinto Group (NYSE:RIO) Bought by Sanctuary Advisors LLC

Sanctuary Advisors LLC acquired a new stake in Rio Tinto Group (NYSE:RIO) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 27,990 shares of the mining company’s stock, valued at approximately $1,910,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Northwest Investment Counselors LLC acquired a new stake in Rio Tinto Group during the 1st quarter worth approximately $26,000. Geneos Wealth Management Inc. lifted its holdings in shares of Rio Tinto Group by 55.4% during 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. acquired a new position in Rio Tinto Group in the 2nd quarter valued at $26,000. YHB Investment Advisors Inc. purchased a new position in Rio Tinto Group during the 1st quarter worth $29,000. Finally, Centerpoint Advisors LLC lifted its stake in shares of Rio Tinto Group by 110.0% in the 2nd quarter. Centerpoint Advisors LLC now owns 525 shares of the mining company’s stock worth $35,000 after acquiring an additional 275 shares during the period. 19.33% of the stock is owned by hedge funds and other institutional investors.

Rio Tinto Group Stock Performance

RIO opened at $66.66 on Wednesday. The stock’s 50 day simple moving average is $64.12 and its 200 day simple moving average is $66.18. The stock has a market cap of $83.50 billion, a P/E ratio of 9.52, a P/E/G ratio of 0.42 and a beta of 0.66. Rio Tinto Group has a 1-year low of $59.35 and a 1-year high of $75.09. 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 Cuts Dividend

The company also recently declared a semi-annual dividend, which was paid on Thursday, September 26th. Stockholders of record on Friday, August 16th were given a $1.77 dividend. This represents a dividend yield of 6.8%. The ex-dividend date was Friday, August 16th. Rio Tinto Group’s dividend payout ratio is currently 50.43%.

Analyst Ratings Changes

Several research analysts recently issued reports on RIO shares. Berenberg Bank raised shares of Rio Tinto Group from a “hold” rating to a “buy” rating in a report on Wednesday, October 2nd. 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. Hsbc Global Res raised Rio Tinto Group to a “strong-buy” rating in a report on Tuesday, July 23rd. Finally, HSBC raised shares of Rio Tinto Group from a “hold” rating to a “buy” rating in a research note on Tuesday, July 23rd. Three equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Rio Tinto Group has a consensus rating of “Moderate Buy”.

Rio Tinto Group 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.