Atomi Financial Group Inc. Lowers Stock Position in Rio Tinto Group (NYSE:RIO)

Atomi Financial Group Inc. decreased its position in Rio Tinto Group (NYSE:RIO) by 18.8% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 12,041 shares of the mining company’s stock after selling 2,788 shares during the period. Atomi Financial Group Inc.’s holdings in Rio Tinto Group were worth $857,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. GHP Investment Advisors Inc. purchased a new position in Rio Tinto Group during the second quarter worth approximately $26,000. Northwest Investment Counselors LLC purchased a new position in shares of Rio Tinto Group during the 1st quarter valued at approximately $26,000. Geneos Wealth Management Inc. lifted its position 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 valued at $26,000 after buying an additional 148 shares in the last quarter. Centerpoint Advisors LLC grew its stake in Rio Tinto Group by 110.0% in the 2nd 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 period. Finally, Nisa Investment Advisors LLC purchased a new stake in Rio Tinto Group in the 2nd quarter worth $36,000. Institutional investors and hedge funds own 19.33% of the company’s stock.

Rio Tinto Group Price Performance

RIO opened at $66.35 on Thursday. Rio Tinto Group has a one year low of $59.35 and a one year high of $75.09. The company has a current ratio of 1.70, a quick ratio of 1.16 and a debt-to-equity ratio of 0.23. The business’s 50 day moving average price is $64.18 and its 200 day moving average price is $66.21.

Rio Tinto Group Cuts Dividend

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

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. StockNews.com upgraded Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a report on Friday, September 6th. Berenberg Bank raised Rio Tinto Group from a “hold” rating to a “buy” rating in a research note on Wednesday, October 2nd. HSBC raised Rio Tinto Group from a “hold” rating to a “buy” rating in a research note on Tuesday, July 23rd. Royal Bank of Canada raised shares of Rio Tinto Group to a “hold” rating in a report on Wednesday, July 31st. Finally, Hsbc Global Res raised shares of Rio Tinto Group to a “strong-buy” rating in a research note on Tuesday, July 23rd. Three equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, Rio Tinto Group has an average 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.