J.W. Cole Advisors Inc. Raises Position in Rio Tinto Group (NYSE:RIO)

J.W. Cole Advisors Inc. grew its holdings in shares of Rio Tinto Group (NYSE:RIO) by 19.8% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 5,559 shares of the mining company’s stock after purchasing an additional 920 shares during the period. J.W. Cole Advisors Inc.’s holdings in Rio Tinto Group were worth $367,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in RIO. Northwest Investment Counselors LLC purchased a new position in Rio Tinto Group in the 1st quarter worth approximately $26,000. Geneos Wealth Management Inc. grew its position in Rio Tinto Group by 55.4% in the 1st 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. bought a new stake in Rio Tinto Group in the 2nd quarter worth approximately $26,000. YHB Investment Advisors Inc. bought a new stake in Rio Tinto Group in the 1st quarter worth approximately $29,000. Finally, LifeSteps Financial Inc. bought a new stake in Rio Tinto Group in the 1st quarter worth approximately $33,000. 19.33% of the stock is currently owned by hedge funds and other institutional investors.

Rio Tinto Group Trading Down 0.0 %

RIO opened at $62.91 on Thursday. 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 has a fifty-two week low of $59.35 and a fifty-two week high of $75.09. The firm’s fifty day moving average is $63.26 and its 200 day moving average is $65.67.

Rio Tinto Group Cuts Dividend

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

Analyst Ratings Changes

A number of research firms have commented on RIO. Hsbc Global Res raised shares of Rio Tinto Group to a “strong-buy” rating in a research report on Tuesday, July 23rd. Royal Bank of Canada raised shares of Rio Tinto Group to a “hold” rating in a research report on Wednesday, July 31st. 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 research report on Tuesday, July 23rd. Finally, Berenberg Bank downgraded shares of Rio Tinto Group from a “buy” rating to a “hold” rating in a research report on Thursday, June 27th. Five investment analysts have rated the stock with a hold rating, four have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy”.

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.