B. Riley Wealth Advisors Inc. Acquires 2,823 Shares of Rio Tinto Group (NYSE:RIO)

B. Riley Wealth Advisors Inc. raised its holdings in Rio Tinto Group (NYSE:RIO) by 10.0% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 31,080 shares of the mining company’s stock after acquiring an additional 2,823 shares during the quarter. B. Riley Wealth Advisors Inc.’s holdings in Rio Tinto Group were worth $2,049,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in RIO. Bank of Montreal Can boosted its position in Rio Tinto Group by 237.0% during the second quarter. Bank of Montreal Can now owns 2,472,471 shares of the mining company’s stock valued at $164,493,000 after purchasing an additional 1,738,752 shares during the last quarter. Wellington Management Group LLP increased its holdings in Rio Tinto Group by 7.1% during the fourth quarter. Wellington Management Group LLP now owns 24,838,524 shares of the mining company’s stock worth $1,849,476,000 after buying an additional 1,644,751 shares during the last quarter. National Bank of Canada FI raised its position in Rio Tinto Group by 296.2% during the first quarter. National Bank of Canada FI now owns 1,022,765 shares of the mining company’s stock worth $71,382,000 after acquiring an additional 764,635 shares in the last quarter. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund acquired a new stake in Rio Tinto Group in the second quarter valued at $48,129,000. Finally, Fisher Asset Management LLC grew its position in shares of Rio Tinto Group by 2.9% in the 4th quarter. Fisher Asset Management LLC now owns 16,019,748 shares of the mining company’s stock valued at $1,192,830,000 after acquiring an additional 449,536 shares during the period. 19.33% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on RIO. Berenberg Bank raised shares of Rio Tinto Group from a “hold” rating to a “buy” rating in a report on Wednesday. HSBC upgraded Rio Tinto Group from a “hold” rating to a “buy” rating in a research note on Tuesday, July 23rd. Hsbc Global Res upgraded Rio Tinto Group to a “strong-buy” rating in a research note on Tuesday, July 23rd. StockNews.com upgraded Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a research note on Friday, September 6th. Finally, Royal Bank of Canada raised Rio Tinto Group to a “hold” rating in a report on Wednesday, July 31st. Four investment analysts have rated the stock with a hold rating, five have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy”.

Rio Tinto Group Trading Down 0.4 %

Rio Tinto Group stock opened at $70.84 on Thursday. The stock’s 50 day moving average is $63.82 and its 200-day moving average is $66.03. Rio Tinto Group has a 12 month low of $59.35 and a 12 month high of $75.09. The company has a quick ratio of 1.16, a current ratio of 1.70 and a debt-to-equity ratio of 0.23.

Rio Tinto Group Cuts Dividend

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

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.