D.A. Davidson & CO. Buys 9,615 Shares of Rio Tinto Group (NYSE:RIO)

D.A. Davidson & CO. boosted its position in shares of Rio Tinto Group (NYSE:RIO) by 11.0% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 96,874 shares of the mining company’s stock after acquiring an additional 9,615 shares during the period. D.A. Davidson & CO.’s holdings in Rio Tinto Group were worth $6,387,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Russell Investments Group Ltd. boosted its holdings in shares of Rio Tinto Group by 0.4% in the 1st quarter. Russell Investments Group Ltd. now owns 39,964 shares of the mining company’s stock worth $2,547,000 after purchasing an additional 147 shares during the period. Geneos Wealth Management Inc. increased its position in Rio Tinto Group by 55.4% during the first quarter. Geneos Wealth Management Inc. now owns 415 shares of the mining company’s stock valued at $26,000 after acquiring an additional 148 shares during the last quarter. EverSource Wealth Advisors LLC increased its position in Rio Tinto Group by 8.5% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,922 shares of the mining company’s stock valued at $143,000 after acquiring an additional 150 shares during the last quarter. Optas LLC raised its stake in shares of Rio Tinto Group by 4.2% in the first quarter. Optas LLC now owns 3,833 shares of the mining company’s stock valued at $244,000 after acquiring an additional 154 shares during the period. Finally, Eagle Bluffs Wealth Management LLC lifted its holdings in shares of Rio Tinto Group by 1.1% in the 2nd quarter. Eagle Bluffs Wealth Management LLC now owns 14,997 shares of the mining company’s stock worth $989,000 after acquiring an additional 163 shares during the last quarter. 19.33% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

RIO has been the topic of a number of analyst reports. HSBC raised Rio Tinto Group from a “hold” rating to a “buy” rating in a research note on Tuesday, July 23rd. Hsbc Global Res raised Rio Tinto Group to a “strong-buy” rating in a research report on Tuesday, July 23rd. StockNews.com lowered shares of Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a research note on Thursday, August 29th. Berenberg Bank cut shares of Rio Tinto Group from a “buy” rating to a “hold” rating in a report on Thursday, June 27th. Finally, Royal Bank of Canada upgraded shares of Rio Tinto Group to a “hold” rating in a report on Wednesday, July 31st. Five analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Rio Tinto Group currently has a consensus rating of “Moderate Buy”.

Rio Tinto Group Stock Down 0.1 %

RIO stock opened at $63.27 on Tuesday. Rio Tinto Group has a one year low of $59.80 and a one year high of $75.09. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.70 and a quick ratio of 1.16. The firm has a 50-day simple moving average of $64.61 and a two-hundred day simple moving average of $66.06.

Rio Tinto Group Cuts Dividend

The company 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 $1.77 dividend. The ex-dividend date is Friday, August 16th. This represents a yield of 6.8%.

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.