Rio Tinto Group (NYSE:RIO) Shares Bought by Vontobel Holding Ltd.

Vontobel Holding Ltd. increased its stake in Rio Tinto Group (NYSE:RIO) by 64.0% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 8,910 shares of the mining company’s stock after acquiring an additional 3,476 shares during the quarter. Vontobel Holding Ltd.’s holdings in Rio Tinto Group were worth $634,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Northwest Investment Counselors LLC purchased a new position in Rio Tinto Group in the 1st quarter worth about $26,000. Geneos Wealth Management Inc. raised 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 valued at $26,000 after acquiring an additional 148 shares during the period. GHP Investment Advisors Inc. purchased a new stake in shares of Rio Tinto Group in the 2nd quarter valued at approximately $26,000. Sound Income Strategies LLC grew its position in Rio Tinto Group by 70.9% during the 3rd quarter. Sound Income Strategies LLC now owns 417 shares of the mining company’s stock worth $30,000 after purchasing an additional 173 shares in the last quarter. Finally, Centerpoint Advisors LLC raised its stake in Rio Tinto Group by 110.0% during the 2nd quarter. Centerpoint Advisors LLC now owns 525 shares of the mining company’s stock valued at $35,000 after purchasing an additional 275 shares during the period. 19.33% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently commented on RIO shares. StockNews.com raised Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a research report on Friday, September 6th. Berenberg Bank upgraded Rio Tinto Group from a “hold” rating to a “buy” rating in a report on Wednesday, October 2nd. Macquarie restated a “neutral” rating on shares of Rio Tinto Group in a report on Wednesday, October 16th. HSBC upgraded shares of Rio Tinto Group from a “hold” rating to a “buy” rating in a research note on Tuesday, July 23rd. Finally, Hsbc Global Res raised shares of Rio Tinto Group to a “strong-buy” rating in a research note on Tuesday, July 23rd. Four investment analysts have rated the stock with a hold rating, five have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy”.

Rio Tinto Group Stock Down 0.6 %

RIO stock opened at $64.95 on Tuesday. The firm has a 50 day moving average of $64.70 and a two-hundred day moving average of $66.37. Rio Tinto Group has a 12 month low of $59.35 and a 12 month 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 firm also recently disclosed a semi-annual dividend, which was paid on Thursday, September 26th. Investors of record on Friday, August 16th were issued a $1.77 dividend. This represents a yield of 6.8%. The ex-dividend date of this dividend was 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.