Rio Tinto Group (NYSE:RIO) Shares Bought by Davis Capital Management

Davis Capital Management raised its holdings in Rio Tinto Group (NYSE:RIO) by 14.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 13,889 shares of the mining company’s stock after acquiring an additional 1,749 shares during the quarter. Davis Capital Management’s holdings in Rio Tinto Group were worth $988,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Bank of Montreal Can raised its holdings in Rio Tinto Group by 237.0% during the 2nd quarter. Bank of Montreal Can now owns 2,472,471 shares of the mining company’s stock worth $164,493,000 after buying an additional 1,738,752 shares during the period. Natixis Advisors LLC increased its holdings in shares of Rio Tinto Group by 8.7% in the 2nd quarter. Natixis Advisors LLC now owns 695,731 shares of the mining company’s stock valued at $45,870,000 after purchasing an additional 55,967 shares during the period. First City Capital Management Inc. increased its holdings in shares of Rio Tinto Group by 118.5% in the 2nd quarter. First City Capital Management Inc. now owns 15,178 shares of the mining company’s stock valued at $1,001,000 after purchasing an additional 8,230 shares during the period. QRG Capital Management Inc. increased its holdings in shares of Rio Tinto Group by 38.1% in the 2nd quarter. QRG Capital Management Inc. now owns 95,497 shares of the mining company’s stock valued at $6,296,000 after purchasing an additional 26,329 shares during the period. Finally, Capstone Investment Advisors LLC acquired a new position in shares of Rio Tinto Group in the 1st quarter valued at about $1,734,000. 19.33% of the stock is owned by institutional investors and hedge funds.

Rio Tinto Group Stock Performance

Shares of Rio Tinto Group stock opened at $70.84 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 stock has a 50 day moving average price of $63.82 and a two-hundred day moving average price of $66.03. Rio Tinto Group has a 12-month low of $59.35 and a 12-month high of $75.09.

Rio Tinto Group Cuts Dividend

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

Analyst Ratings Changes

A number of equities analysts have recently weighed in on RIO shares. Hsbc Global Res upgraded Rio Tinto Group to a “strong-buy” rating in a report on Tuesday, July 23rd. HSBC upgraded Rio Tinto Group from a “hold” rating to a “buy” rating in a report on Tuesday, July 23rd. StockNews.com upgraded Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a report on Friday, September 6th. Royal Bank of Canada upgraded Rio Tinto Group to a “hold” rating in a report on Wednesday, July 31st. Finally, Berenberg Bank upgraded Rio Tinto Group from a “hold” rating to a “buy” rating in a report on Wednesday. Four research analysts have rated the stock with a hold rating, five have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, Rio Tinto Group 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.