Bleakley Financial Group LLC Makes New $221,000 Investment in Rio Tinto Group (NYSE:RIO)

Bleakley Financial Group LLC bought a new stake in Rio Tinto Group (NYSE:RIO) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 3,110 shares of the mining company’s stock, valued at approximately $221,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in RIO. GHP Investment Advisors Inc. bought a new stake in Rio Tinto Group during the second quarter worth $26,000. Geneos Wealth Management Inc. lifted its position in shares of 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 buying an additional 148 shares during the last quarter. Sound Income Strategies LLC boosted its stake in Rio Tinto Group by 70.9% in the third quarter. Sound Income Strategies LLC now owns 417 shares of the mining company’s stock valued at $30,000 after buying an additional 173 shares in the last quarter. Centerpoint Advisors LLC grew its position in Rio Tinto Group by 110.0% in the second quarter. Centerpoint Advisors LLC now owns 525 shares of the mining company’s stock valued at $35,000 after acquiring an additional 275 shares during the last quarter. Finally, Nisa Investment Advisors LLC acquired a new position in Rio Tinto Group during the second quarter worth about $36,000. Institutional investors own 19.33% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on RIO. 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 upgraded shares of Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a report on Friday, September 6th. HSBC upgraded Rio Tinto Group from a “hold” rating to a “buy” rating in a research report on Tuesday, July 23rd. Hsbc Global Res raised Rio Tinto Group to a “strong-buy” rating in a research note on Tuesday, July 23rd. Finally, Royal Bank of Canada upgraded Rio Tinto Group to a “hold” rating in a report on Wednesday, July 31st. Four analysts have rated the stock with a hold rating, five have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy”.

Rio Tinto Group Trading Down 1.5 %

NYSE RIO opened at $64.49 on Thursday. Rio Tinto Group has a 12 month low of $59.35 and a 12 month high of $75.09. The company has a current ratio of 1.70, a quick ratio of 1.16 and a debt-to-equity ratio of 0.23. The business’s 50-day moving average price is $64.77 and its two-hundred day moving average price is $66.37.

Rio Tinto Group Cuts Dividend

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