Cambridge Investment Research Advisors Inc. Has $6.46 Million Position in Rio Tinto Group (NYSE:RIO)

Cambridge Investment Research Advisors Inc. lifted its stake in shares of Rio Tinto Group (NYSE:RIO) by 0.4% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 98,007 shares of the mining company’s stock after buying an additional 431 shares during the quarter. Cambridge Investment Research Advisors Inc.’s holdings in Rio Tinto Group were worth $6,462,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. International Assets Investment Management LLC acquired a new stake in Rio Tinto Group during the fourth quarter worth approximately $7,954,000. Yousif Capital Management LLC boosted its stake in Rio Tinto Group by 12.9% in the 4th quarter. Yousif Capital Management LLC now owns 23,199 shares of the mining company’s stock valued at $1,727,000 after purchasing an additional 2,645 shares during the period. Atria Wealth Solutions Inc. boosted its stake in Rio Tinto Group by 42.3% in the 4th quarter. Atria Wealth Solutions Inc. now owns 19,653 shares of the mining company’s stock valued at $1,463,000 after purchasing an additional 5,841 shares during the period. Russell Investments Group Ltd. grew its holdings in Rio Tinto Group by 2.5% in the 4th quarter. Russell Investments Group Ltd. now owns 39,817 shares of the mining company’s stock valued at $2,965,000 after buying an additional 972 shares in the last quarter. Finally, Cozad Asset Management Inc. increased its position in Rio Tinto Group by 7.7% during the 4th quarter. Cozad Asset Management Inc. now owns 9,663 shares of the mining company’s stock worth $720,000 after buying an additional 690 shares during the period. Institutional investors own 19.33% of the company’s stock.

Rio Tinto Group Stock Performance

Shares of Rio Tinto Group stock opened at $62.99 on Thursday. The company has a quick ratio of 1.16, a current ratio of 1.70 and a debt-to-equity ratio of 0.23. The company has a 50 day moving average of $64.87 and a 200-day moving average of $66.17. Rio Tinto Group has a 1-year low of $59.80 and a 1-year high of $75.09.

Rio Tinto Group Cuts Dividend

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

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Berenberg Bank downgraded shares of Rio Tinto Group from a “buy” rating to a “hold” rating in a research note on Thursday, June 27th. StockNews.com upgraded shares of Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, May 21st. Royal Bank of Canada raised shares of Rio Tinto Group to a “hold” rating in a report on Wednesday, July 31st. Citigroup cut Rio Tinto Group from a “buy” rating to a “neutral” rating in a research note on Monday, May 20th. Finally, HSBC upgraded Rio Tinto Group from a “hold” rating to a “buy” rating in a research note on Tuesday, July 23rd. Five equities research analysts have rated the stock with a hold rating, five have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy”.

Rio Tinto Group Company 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.