EverSource Wealth Advisors LLC Has $177,000 Position in Rio Tinto Group (NYSE:RIO)

EverSource Wealth Advisors LLC increased its position in shares of Rio Tinto Group (NYSE:RIO) by 47.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,723 shares of the mining company’s stock after acquiring an additional 876 shares during the period. EverSource Wealth Advisors LLC’s holdings in Rio Tinto Group were worth $177,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the company. First City Capital Management Inc. boosted 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 in the last quarter. 1832 Asset Management L.P. boosted its stake in Rio Tinto Group by 38.7% in the second quarter. 1832 Asset Management L.P. now owns 17,649 shares of the mining company’s stock valued at $1,164,000 after buying an additional 4,924 shares in the last quarter. Greenline Partners LLC grew its position in Rio Tinto Group by 1.1% in the second quarter. Greenline Partners LLC now owns 134,924 shares of the mining company’s stock valued at $8,960,000 after acquiring an additional 1,516 shares during the last quarter. Mount Yale Investment Advisors LLC raised its stake in Rio Tinto Group by 33.7% during the second quarter. Mount Yale Investment Advisors LLC now owns 10,051 shares of the mining company’s stock worth $663,000 after acquiring an additional 2,536 shares in the last quarter. Finally, Frank Rimerman Advisors LLC lifted its holdings in shares of Rio Tinto Group by 1,522.2% in the second quarter. Frank Rimerman Advisors LLC now owns 12,118 shares of the mining company’s stock worth $799,000 after acquiring an additional 11,371 shares during the last quarter. 19.33% of the stock is owned by institutional investors.

Rio Tinto Group Stock Performance

Shares of Rio Tinto Group stock opened at $67.68 on Thursday. Rio Tinto Group has a twelve month low of $59.35 and a twelve month high of $75.09. The company’s fifty day moving average is $63.06 and its 200 day moving average is $65.71. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.70 and a quick ratio of 1.16.

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

Wall Street Analyst Weigh In

RIO has been the topic of several research reports. StockNews.com raised shares of Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a report on Friday, September 6th. Hsbc Global Res upgraded shares of Rio Tinto Group to a “strong-buy” rating in a report on Tuesday, July 23rd. Berenberg Bank downgraded Rio Tinto Group from a “buy” rating to a “hold” rating in a report on Thursday, June 27th. HSBC upgraded Rio Tinto Group from a “hold” rating to a “buy” rating in a research report on Tuesday, July 23rd. Finally, Royal Bank of Canada upgraded Rio Tinto Group to a “hold” rating in a research report on Wednesday, July 31st. Five analysts have rated the stock with a hold rating, four have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Rio Tinto Group has an average rating of “Moderate Buy”.

Rio Tinto Group 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.