Mather Group LLC. Buys 1,385 Shares of Rio Tinto Group (NYSE:RIO)

Mather Group LLC. lifted its stake in shares of Rio Tinto Group (NYSE:RIO) by 87.5% during the third quarter, HoldingsChannel reports. The firm owned 2,967 shares of the mining company’s stock after acquiring an additional 1,385 shares during the quarter. Mather Group LLC.’s holdings in Rio Tinto Group were worth $211,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. GHP Investment Advisors Inc. acquired a new position in Rio Tinto Group during the second quarter worth $26,000. Northwest Investment Counselors LLC bought a new stake in shares of Rio Tinto Group in the 1st quarter valued at about $26,000. Geneos Wealth Management Inc. lifted its stake in Rio Tinto Group by 55.4% in the 1st quarter. Geneos Wealth Management Inc. now owns 415 shares of the mining company’s stock valued at $26,000 after purchasing an additional 148 shares during the last quarter. Centerpoint Advisors LLC grew its holdings in Rio Tinto Group by 110.0% during the second quarter. Centerpoint Advisors LLC now owns 525 shares of the mining company’s stock worth $35,000 after purchasing an additional 275 shares during the period. Finally, Nisa Investment Advisors LLC acquired a new position in Rio Tinto Group during the second quarter worth approximately $36,000. Institutional investors and hedge funds own 19.33% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on RIO. HSBC raised Rio Tinto Group from a “hold” rating to a “buy” rating in a research report 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. Berenberg Bank raised shares of Rio Tinto Group from a “hold” rating to a “buy” rating in a research report on Wednesday, October 2nd. Hsbc Global Res raised shares of Rio Tinto Group to a “strong-buy” rating in a report on Tuesday, July 23rd. Finally, Royal Bank of Canada raised shares of Rio Tinto Group to a “hold” rating in a report on Wednesday, July 31st. Three 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. According to MarketBeat, Rio Tinto Group currently has a consensus rating of “Moderate Buy”.

Rio Tinto Group Stock Performance

RIO opened at $67.23 on Friday. 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 stock has a fifty day moving average of $64.35 and a 200-day moving average of $66.24. Rio Tinto Group has a fifty-two week low of $59.35 and a fifty-two week high of $75.09.

Rio Tinto Group Cuts Dividend

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

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.