Mount Yale Investment Advisors LLC Has $663,000 Stock Holdings in Rio Tinto Group (NYSE:RIO)

Mount Yale Investment Advisors LLC grew its holdings in shares of Rio Tinto Group (NYSE:RIO) by 33.7% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,051 shares of the mining company’s stock after buying an additional 2,536 shares during the quarter. Mount Yale Investment Advisors LLC’s holdings in Rio Tinto Group were worth $663,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in RIO. Wellington Management Group LLP boosted its stake in Rio Tinto Group by 7.1% during the 4th quarter. Wellington Management Group LLP now owns 24,838,524 shares of the mining company’s stock valued at $1,849,476,000 after purchasing an additional 1,644,751 shares during the last quarter. Fisher Asset Management LLC boosted its position in shares of Rio Tinto Group by 2.9% during the fourth quarter. Fisher Asset Management LLC now owns 16,019,748 shares of the mining company’s stock valued at $1,192,830,000 after buying an additional 449,536 shares during the last quarter. Earnest Partners LLC grew its holdings in Rio Tinto Group by 1.4% during the first quarter. Earnest Partners LLC now owns 1,395,961 shares of the mining company’s stock worth $88,979,000 after buying an additional 19,334 shares in the last quarter. National Bank of Canada FI raised its position in Rio Tinto Group by 296.2% in the 1st quarter. National Bank of Canada FI now owns 1,022,765 shares of the mining company’s stock valued at $71,382,000 after buying an additional 764,635 shares during the last quarter. Finally, MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH lifted its stake in Rio Tinto Group by 22.7% during the 1st quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 978,859 shares of the mining company’s stock valued at $62,392,000 after acquiring an additional 180,874 shares in the last quarter. 19.33% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts have recently issued reports on RIO shares. StockNews.com upgraded shares of Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a research note 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. Royal Bank of Canada upgraded Rio Tinto Group to a “hold” rating in a research note 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 report on Thursday, June 27th. Five investment analysts have rated the stock with a hold rating, four have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, Rio Tinto Group has a consensus rating of “Moderate Buy”.

Rio Tinto Group Price Performance

Rio Tinto Group stock opened at $64.57 on Tuesday. The firm has a 50 day moving average price of $63.04 and a 200-day moving average price of $65.68. 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 has a twelve month low of $59.35 and a twelve month high of $75.09.

Rio Tinto Group Cuts Dividend

The company 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 is Friday, August 16th.

Rio Tinto Group 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.