Rio Tinto Group (NYSE:RIO) Holdings Lifted by Rhumbline Advisers

Rhumbline Advisers boosted its holdings in Rio Tinto Group (NYSE:RIO) by 4.2% during the 2nd quarter, Holdings Channel.com reports. The fund owned 23,872 shares of the mining company’s stock after purchasing an additional 962 shares during the quarter. Rhumbline Advisers’ holdings in Rio Tinto Group were worth $1,574,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Northwest Investment Counselors LLC acquired a new position in shares of Rio Tinto Group in the 1st quarter worth approximately $26,000. Geneos Wealth Management Inc. grew its position in Rio Tinto Group by 55.4% in the first quarter. Geneos Wealth Management Inc. now owns 415 shares of the mining company’s stock worth $26,000 after buying an additional 148 shares during the last quarter. YHB Investment Advisors Inc. bought a new position in shares of Rio Tinto Group in the first quarter valued at $29,000. LifeSteps Financial Inc. acquired a new stake in shares of Rio Tinto Group during the 1st quarter valued at $33,000. Finally, Centerpoint Advisors LLC lifted its position in shares of Rio Tinto Group by 110.0% during 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 last quarter. 19.33% of the stock is currently owned by institutional investors.

Rio Tinto Group Stock Down 2.5 %

Shares of NYSE RIO opened at $63.58 on Friday. Rio Tinto Group has a one year low of $59.35 and a one year high of $75.09. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.16 and a current ratio of 1.70. The business has a 50-day moving average price of $63.10 and a two-hundred day moving average price of $65.66.

Rio Tinto Group Cuts Dividend

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

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. Berenberg Bank cut Rio Tinto Group from a “buy” rating to a “hold” rating in a report on Thursday, June 27th. Royal Bank of Canada raised 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. StockNews.com raised shares of Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a research report on Friday, September 6th. Finally, HSBC upgraded shares of Rio Tinto Group from a “hold” rating to a “buy” rating in a research report on Tuesday, July 23rd. Five analysts have rated the stock with a hold rating, four have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Rio Tinto Group currently 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.