Godsey & Gibb Inc. Invests $50,000 in Rio Tinto Group (NYSE:RIO)

Godsey & Gibb Inc. acquired a new position in Rio Tinto Group (NYSE:RIO) during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 704 shares of the mining company’s stock, valued at approximately $50,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Bank of Montreal Can grew its holdings in shares of Rio Tinto Group by 237.0% in the 2nd quarter. Bank of Montreal Can now owns 2,472,471 shares of the mining company’s stock worth $164,493,000 after acquiring an additional 1,738,752 shares during the last quarter. Natixis Advisors LLC grew 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 worth $45,870,000 after acquiring an additional 55,967 shares during the last quarter. First City Capital Management Inc. grew 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 worth $1,001,000 after acquiring an additional 8,230 shares during the last quarter. QRG Capital Management Inc. grew 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 worth $6,296,000 after acquiring an additional 26,329 shares during the last quarter. Finally, Capstone Investment Advisors LLC acquired a new position in shares of Rio Tinto Group in the 1st quarter worth $1,734,000. Institutional investors own 19.33% of the company’s stock.

Rio Tinto Group Trading Up 0.4 %

Shares of RIO stock opened at $65.36 on Monday. Rio Tinto Group has a 1-year low of $59.35 and a 1-year high of $75.09. The company has a current ratio of 1.70, a quick ratio of 1.16 and a debt-to-equity ratio of 0.23. The stock’s fifty day simple moving average is $64.66 and its 200-day simple moving average is $66.36.

Rio Tinto Group Cuts Dividend

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

Analyst Ratings Changes

A number of brokerages recently issued reports on RIO. Berenberg Bank upgraded Rio Tinto Group from a “hold” rating to a “buy” rating in a report on Wednesday, October 2nd. Macquarie restated a “neutral” rating on shares of Rio Tinto Group in a report on Wednesday, October 16th. 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. Finally, StockNews.com upgraded Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a report on Friday, September 6th. Four research analysts have rated the stock with a hold rating, five have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average 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.