Net Worth Advisory Group Takes $821,000 Position in Rio Tinto Group (NYSE:RIO)

Net Worth Advisory Group bought a new stake in shares of Rio Tinto Group (NYSE:RIO) in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 11,529 shares of the mining company’s stock, valued at approximately $821,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of RIO. Stratos Wealth Advisors LLC grew its holdings in shares of Rio Tinto Group by 72.9% in the third quarter. Stratos Wealth Advisors LLC now owns 38,109 shares of the mining company’s stock valued at $2,712,000 after purchasing an additional 16,072 shares in the last quarter. Aaron Wealth Advisors LLC lifted its holdings in shares of Rio Tinto Group by 31.2% in the 3rd quarter. Aaron Wealth Advisors LLC now owns 6,731 shares of the mining company’s stock valued at $479,000 after acquiring an additional 1,600 shares during the last quarter. Stonegate Investment Group LLC increased its stake in Rio Tinto Group by 3.4% during the third quarter. Stonegate Investment Group LLC now owns 5,467 shares of the mining company’s stock worth $389,000 after acquiring an additional 179 shares during the last quarter. Ellsworth Advisors LLC raised its position in Rio Tinto Group by 20.8% during the third quarter. Ellsworth Advisors LLC now owns 10,229 shares of the mining company’s stock valued at $728,000 after purchasing an additional 1,761 shares during the period. Finally, Bleakley Financial Group LLC purchased a new position in shares of Rio Tinto Group in the 3rd quarter worth approximately $221,000. 19.33% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have commented on RIO shares. HSBC raised shares of Rio Tinto Group from a “hold” rating to a “buy” rating in a research note on Tuesday, July 23rd. Hsbc Global Res upgraded shares of Rio Tinto Group to a “strong-buy” rating in a report on Tuesday, July 23rd. Berenberg Bank raised shares of Rio Tinto Group from a “hold” rating to a “buy” rating in a research note on Wednesday, October 2nd. Royal Bank of Canada upgraded Rio Tinto Group to a “hold” rating in a research report on Wednesday, July 31st. Finally, Macquarie reiterated a “neutral” rating on shares of Rio Tinto Group in a report on Wednesday. Four research 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 MarketBeat, Rio Tinto Group presently has a consensus rating of “Moderate Buy”.

Rio Tinto Group Trading Up 0.4 %

Shares of NYSE RIO opened at $65.36 on Friday. Rio Tinto Group has a 52-week low of $59.35 and a 52-week high of $75.09. The stock has a 50 day moving average price of $64.66 and a 200 day moving average price of $66.33. The company has a current ratio of 1.70, a quick ratio of 1.16 and a debt-to-equity ratio of 0.23.

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 issued a $1.77 dividend. This represents a dividend yield of 6.8%. The ex-dividend date was Friday, August 16th.

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.