Sunbelt Securities Inc. Has $833,000 Holdings in Rio Tinto Group (NYSE:RIO)

Sunbelt Securities Inc. lifted its holdings in Rio Tinto Group (NYSE:RIO) by 7.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 12,638 shares of the mining company’s stock after purchasing an additional 872 shares during the period. Sunbelt Securities Inc.’s holdings in Rio Tinto Group were worth $833,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. GHP Investment Advisors Inc. acquired a new stake in shares of Rio Tinto Group in the 2nd quarter valued at $26,000. Northwest Investment Counselors LLC acquired a new stake in shares of Rio Tinto Group in the 1st quarter valued at $26,000. Geneos Wealth Management Inc. lifted its stake in shares of 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. YHB Investment Advisors Inc. acquired a new stake in shares of Rio Tinto Group in the 1st quarter valued at $29,000. Finally, LifeSteps Financial Inc. acquired a new stake in shares of Rio Tinto Group in the 1st quarter valued at $33,000. Institutional investors and hedge funds own 19.33% of the company’s stock.

Rio Tinto Group Stock Performance

NYSE:RIO opened at $71.17 on Tuesday. The firm’s 50-day moving average is $63.52 and its 200-day moving average is $65.93. Rio Tinto Group has a 52-week low of $59.35 and a 52-week high of $75.09. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.16 and a current ratio of 1.70. The company has a market cap of $89.14 billion, a price-to-earnings ratio of 10.18, a PEG ratio of 0.39 and a beta of 0.66.

Rio Tinto Group Cuts Dividend

The business also recently disclosed a semi-annual dividend, which was paid on Thursday, September 26th. Stockholders of record on Friday, August 16th were issued a dividend of $1.77 per share. The ex-dividend date was Friday, August 16th. This represents a dividend yield of 6.8%. Rio Tinto Group’s payout ratio is 50.50%.

Analyst Ratings Changes

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

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.