Creative Planning Purchases 3,413 Shares of Rio Tinto Group (NYSE:RIO)

Creative Planning grew its position in Rio Tinto Group (NYSE:RIO) by 4.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 80,160 shares of the mining company’s stock after purchasing an additional 3,413 shares during the period. Creative Planning’s holdings in Rio Tinto Group were worth $5,705,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the business. Bank of Montreal Can lifted its stake in shares of Rio Tinto Group by 237.0% during the 2nd quarter. Bank of Montreal Can now owns 2,472,471 shares of the mining company’s stock valued at $164,493,000 after buying an additional 1,738,752 shares in the last quarter. Earnest Partners LLC grew its stake in shares of Rio Tinto Group by 1.4% in the first quarter. Earnest Partners LLC now owns 1,395,961 shares of the mining company’s stock worth $88,979,000 after purchasing an additional 19,334 shares during the last quarter. National Bank of Canada FI increased its position in Rio Tinto Group by 296.2% during 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 purchasing an additional 764,635 shares during the period. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH raised its position in shares of Rio Tinto Group by 22.7% in the 1st quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 978,859 shares of the mining company’s stock worth $62,392,000 after acquiring an additional 180,874 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in Rio Tinto Group by 78.3% during the second quarter. Dimensional Fund Advisors LP now owns 858,050 shares of the mining company’s stock worth $56,565,000 after acquiring an additional 376,778 shares in the last quarter. Institutional investors own 19.33% of the company’s stock.

Rio Tinto Group Trading Down 1.5 %

Shares of RIO opened at $64.49 on Thursday. The stock’s 50-day moving average price is $64.77 and its 200-day moving average price is $66.37. 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 52 week low of $59.35 and a 52 week high of $75.09.

Rio Tinto Group Cuts Dividend

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

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on RIO. Berenberg Bank upgraded shares of Rio Tinto Group from a “hold” rating to a “buy” rating in a report on Wednesday, October 2nd. Hsbc Global Res upgraded shares of Rio Tinto Group to a “strong-buy” rating in a report on Tuesday, July 23rd. Macquarie reaffirmed a “neutral” rating on shares of Rio Tinto Group in a research note on Wednesday, October 16th. HSBC upgraded shares of Rio Tinto Group from a “hold” rating to a “buy” rating in a report on Tuesday, July 23rd. Finally, StockNews.com upgraded Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a research note on Friday, September 6th. Four investment analysts have rated the stock with a hold rating, five have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy”.

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.