Ted Buchan & Co Takes Position in Rio Tinto Group (NYSE:RIO)

Ted Buchan & Co purchased a new stake in shares of Rio Tinto Group (NYSE:RIO) during the second quarter, Holdings Channel.com reports. The institutional investor purchased 17,614 shares of the mining company’s stock, valued at approximately $1,161,000.

A number of other large investors also recently modified their holdings of RIO. Northwest Investment Counselors LLC acquired a new position in Rio Tinto Group during the first quarter worth about $26,000. Geneos Wealth Management Inc. grew its holdings in Rio Tinto Group by 55.4% during the first quarter. Geneos Wealth Management Inc. now owns 415 shares of the mining company’s stock worth $26,000 after acquiring an additional 148 shares during the period. GHP Investment Advisors Inc. acquired a new position in Rio Tinto Group during the second quarter worth about $26,000. YHB Investment Advisors Inc. acquired a new position in Rio Tinto Group during the first quarter worth about $29,000. Finally, LifeSteps Financial Inc. acquired a new position in Rio Tinto Group during the first quarter worth about $33,000. 19.33% of the stock is owned by institutional investors and hedge funds.

Rio Tinto Group Stock Down 0.1 %

Shares of RIO stock opened at $71.17 on Tuesday. The stock’s 50 day simple moving average is $63.52 and its 200 day simple moving average is $65.93. 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 has a twelve month low of $59.35 and a twelve month high of $75.09. The company has a market capitalization 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. Investors of record on Friday, August 16th were paid a $1.77 dividend. This represents a dividend yield of 6.8%. The ex-dividend date was Friday, August 16th. Rio Tinto Group’s payout ratio is 50.50%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on RIO shares. HSBC raised Rio Tinto Group from a “hold” rating to a “buy” rating in a report on Tuesday, July 23rd. Berenberg Bank lowered Rio Tinto Group from a “buy” rating to a “hold” rating in a research report on Thursday, June 27th. Royal Bank of Canada upgraded Rio Tinto Group to a “hold” rating in a research report on Wednesday, July 31st. StockNews.com upgraded Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a research report on Friday, September 6th. Finally, Hsbc Global Res upgraded Rio Tinto Group to a “strong-buy” rating in a research report on Tuesday, July 23rd. Five research analysts have rated the stock with a hold rating, four have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus 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.