Rio Tinto Group (NYSE:RIO) Shares Purchased by 1832 Asset Management L.P.

1832 Asset Management L.P. increased its holdings in shares of Rio Tinto Group (NYSE:RIO) by 38.7% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 17,649 shares of the mining company’s stock after purchasing an additional 4,924 shares during the period. 1832 Asset Management L.P.’s holdings in Rio Tinto Group were worth $1,164,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in RIO. Natixis Advisors LLC raised its holdings in shares of Rio Tinto Group by 8.7% in the second quarter. Natixis Advisors LLC now owns 695,731 shares of the mining company’s stock worth $45,870,000 after buying an additional 55,967 shares during the last quarter. QRG Capital Management Inc. increased its position 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 acquiring an additional 26,329 shares during the period. Campbell & CO Investment Adviser LLC purchased a new position in Rio Tinto Group in the 4th quarter worth $4,319,000. Capstone Investment Advisors LLC acquired a new stake in Rio Tinto Group during the 1st quarter worth about $1,734,000. Finally, Salem Investment Counselors Inc. grew its stake in Rio Tinto Group by 12.2% during the 1st quarter. Salem Investment Counselors Inc. now owns 127,216 shares of the mining company’s stock valued at $8,430,000 after purchasing an additional 13,856 shares during the last quarter. 19.33% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on RIO. Berenberg Bank cut Rio Tinto Group from a “buy” rating to a “hold” rating in a research note on Thursday, June 27th. HSBC raised shares of Rio Tinto Group from a “hold” rating to a “buy” rating in a research report on Tuesday, July 23rd. Hsbc Global Res raised shares of Rio Tinto Group to a “strong-buy” rating in a report on Tuesday, July 23rd. StockNews.com raised shares of Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a report on Friday, September 6th. Finally, Royal Bank of Canada raised shares of Rio Tinto Group to a “hold” rating in a report on Wednesday, July 31st. Five investment analysts have rated the stock with a hold rating, four have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy”.

Rio Tinto Group Stock Performance

Rio Tinto Group stock opened at $70.77 on Friday. Rio Tinto Group has a 12 month low of $59.35 and a 12 month high of $75.09. The stock’s 50 day simple moving average is $63.10 and its two-hundred day simple moving average is $65.73. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.16 and a current ratio of 1.70.

Rio Tinto Group Cuts Dividend

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

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.