AQR Capital Management LLC Buys Shares of 7,852 Rio Tinto Group (NYSE:RIO)

AQR Capital Management LLC acquired a new position in shares of Rio Tinto Group (NYSE:RIO) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 7,852 shares of the mining company’s stock, valued at approximately $518,000.

Several other large investors also recently made changes to their positions in RIO. Northwest Investment Counselors LLC bought a new stake in shares of Rio Tinto Group during the first quarter worth $26,000. Geneos Wealth Management Inc. increased its position in shares of Rio Tinto Group by 55.4% during the first quarter. Geneos Wealth Management Inc. now owns 415 shares of the mining company’s stock worth $26,000 after acquiring an additional 148 shares in the last quarter. GHP Investment Advisors Inc. bought a new stake in shares of Rio Tinto Group during the second quarter worth $26,000. Centerpoint Advisors LLC increased its position in shares of Rio Tinto Group by 110.0% during the second quarter. Centerpoint Advisors LLC now owns 525 shares of the mining company’s stock worth $35,000 after acquiring an additional 275 shares in the last quarter. Finally, Nisa Investment Advisors LLC bought a new stake in shares of Rio Tinto Group during the second quarter worth $36,000. Institutional investors own 19.33% of the company’s stock.

Rio Tinto Group Trading Up 0.7 %

Shares of RIO stock opened at $67.70 on Tuesday. 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 company has a fifty day moving average price of $64.44 and a two-hundred day moving average price of $66.32. Rio Tinto Group has a one year low of $59.35 and a one year high of $75.09.

Rio Tinto Group Cuts Dividend

The company also recently declared 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

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