Rio Tinto Group (NYSE:RIO) Shares Acquired by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC lifted its stake in shares of Rio Tinto Group (NYSE:RIO) by 258.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 45,723 shares of the mining company’s stock after buying an additional 32,965 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Rio Tinto Group were worth $3,254,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in RIO. Bank of Montreal Can lifted its position in Rio Tinto Group by 237.0% during the second quarter. Bank of Montreal Can now owns 2,472,471 shares of the mining company’s stock valued at $164,493,000 after purchasing an additional 1,738,752 shares during the period. Earnest Partners LLC lifted its position 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 valued at $88,979,000 after purchasing an additional 19,334 shares during the period. National Bank of Canada FI lifted its position in Rio Tinto Group by 296.2% during the first 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 lifted its position in Rio Tinto Group by 9.8% during the third quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 932,151 shares of the mining company’s stock valued at $66,341,000 after purchasing an additional 83,569 shares during the period. Finally, Dimensional Fund Advisors LP lifted its position 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 valued at $56,565,000 after purchasing an additional 376,778 shares during the period. 19.33% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on RIO. HSBC raised shares of Rio Tinto Group from a “hold” rating to a “buy” rating in a research note on Tuesday, July 23rd. StockNews.com raised shares of Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a research note on Friday, September 6th. Royal Bank of Canada raised shares of Rio Tinto Group to a “hold” rating in a research note on Wednesday, July 31st. Hsbc Global Res raised shares of Rio Tinto Group to a “strong-buy” rating in a research note on Tuesday, July 23rd. Finally, Macquarie reissued a “neutral” rating on shares of Rio Tinto Group in a research note on Wednesday, October 16th. Four 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. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy”.

Rio Tinto Group Trading Up 0.6 %

RIO stock opened at $66.58 on Wednesday. The company has a current ratio of 1.70, a quick ratio of 1.16 and a debt-to-equity ratio of 0.23. Rio Tinto Group has a 12 month low of $59.35 and a 12 month high of $75.09. The firm has a 50-day moving average of $65.05 and a two-hundred day moving average of $66.35.

Rio Tinto Group Cuts Dividend

The company also recently declared a semi-annual dividend, which was paid on Thursday, September 26th. Stockholders of record on Friday, August 16th were issued a dividend of $1.77 per share. The ex-dividend date of this dividend was Friday, August 16th. This represents a dividend yield of 6.8%.

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.