Mercer Global Advisors Inc. ADV Has $5.56 Million Position in Rio Tinto Group (NYSE:RIO)

Mercer Global Advisors Inc. ADV boosted its stake in shares of Rio Tinto Group (NYSE:RIO) by 6.8% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 84,390 shares of the mining company’s stock after buying an additional 5,364 shares during the quarter. Mercer Global Advisors Inc. ADV’s holdings in Rio Tinto Group were worth $5,564,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of RIO. Russell Investments Group Ltd. lifted its stake in shares of Rio Tinto Group by 0.4% in the 1st quarter. Russell Investments Group Ltd. now owns 39,964 shares of the mining company’s stock valued at $2,547,000 after purchasing an additional 147 shares during the period. Geneos Wealth Management Inc. lifted its stake in shares of Rio Tinto Group by 55.4% in the 1st quarter. Geneos Wealth Management Inc. now owns 415 shares of the mining company’s stock valued at $26,000 after purchasing an additional 148 shares during the period. EverSource Wealth Advisors LLC lifted its stake in shares of Rio Tinto Group by 8.5% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,922 shares of the mining company’s stock valued at $143,000 after purchasing an additional 150 shares during the period. Optas LLC lifted its stake in shares of Rio Tinto Group by 4.2% in the 1st quarter. Optas LLC now owns 3,833 shares of the mining company’s stock valued at $244,000 after purchasing an additional 154 shares during the period. Finally, Eagle Bluffs Wealth Management LLC lifted its stake in shares of Rio Tinto Group by 1.1% in the 2nd quarter. Eagle Bluffs Wealth Management LLC now owns 14,997 shares of the mining company’s stock valued at $989,000 after purchasing an additional 163 shares during the period. 19.33% of the stock is owned by institutional investors and hedge funds.

Rio Tinto Group Stock Down 2.5 %

Shares of RIO opened at $63.57 on Friday. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.70 and a quick ratio of 1.16. The stock has a 50 day moving average price of $63.10 and a two-hundred day moving average price of $65.67. Rio Tinto Group has a 52 week low of $59.35 and a 52 week high of $75.09.

Rio Tinto Group Cuts Dividend

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

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. HSBC raised Rio Tinto Group from a “hold” rating to a “buy” rating in a research note on Tuesday, July 23rd. StockNews.com raised Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a research report on Friday, September 6th. Royal Bank of Canada raised Rio Tinto Group to a “hold” rating in a research report on Wednesday, July 31st. Hsbc Global Res raised Rio Tinto Group to a “strong-buy” rating in a research report on Tuesday, July 23rd. Finally, Berenberg Bank lowered Rio Tinto Group from a “buy” rating to a “hold” rating in a research report on Thursday, June 27th. Five analysts have rated the stock with a hold rating, four have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, Rio Tinto Group presently has an average rating of “Moderate Buy”.

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.