American Century Companies Inc. Purchases 14,506 Shares of Rio Tinto Group (NYSE:RIO)

American Century Companies Inc. raised its position in Rio Tinto Group (NYSE:RIO) by 6.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 238,110 shares of the mining company’s stock after buying an additional 14,506 shares during the quarter. American Century Companies Inc.’s holdings in Rio Tinto Group were worth $15,699,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Northwest Investment Counselors LLC acquired a new position in Rio Tinto Group during the first quarter valued at approximately $26,000. Geneos Wealth Management Inc. raised its holdings 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 in the last quarter. YHB Investment Advisors Inc. acquired a new stake in Rio Tinto Group in the first quarter valued at about $29,000. LifeSteps Financial Inc. bought a new position in Rio Tinto Group in the first quarter valued at about $33,000. Finally, 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. 19.33% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on RIO shares. Hsbc Global Res upgraded shares of Rio Tinto Group to a “strong-buy” rating in a research note on Tuesday, July 23rd. HSBC raised shares of Rio Tinto Group from a “hold” rating to a “buy” rating in a research note on Tuesday, July 23rd. Berenberg Bank cut Rio Tinto Group from a “buy” rating to a “hold” rating in a research note on Thursday, June 27th. Royal Bank of Canada upgraded Rio Tinto Group to a “hold” rating in a research report on Wednesday, July 31st. Finally, StockNews.com upgraded Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a research report on Friday, September 6th. Five investment analysts have rated the stock with a hold rating, four have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy”.

Rio Tinto Group Price Performance

Shares of NYSE:RIO opened at $63.58 on Friday. Rio Tinto Group has a 12-month low of $59.35 and a 12-month high of $75.09. The business has a fifty day simple moving average of $63.10 and a 200 day simple moving average of $65.66. The company has a quick ratio of 1.16, a current ratio of 1.70 and a debt-to-equity ratio of 0.23.

Rio Tinto Group Cuts Dividend

The business also recently disclosed a semi-annual dividend, which will be paid on Thursday, September 26th. Investors of record on Friday, August 16th will be paid a $1.77 dividend. This represents a dividend 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.