Aaron Wealth Advisors LLC Acquires 1,600 Shares of Rio Tinto Group (NYSE:RIO)

Aaron Wealth Advisors LLC boosted its holdings in shares of Rio Tinto Group (NYSE:RIO) by 31.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,731 shares of the mining company’s stock after acquiring an additional 1,600 shares during the period. Aaron Wealth Advisors LLC’s holdings in Rio Tinto Group were worth $479,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of RIO. Bank of Montreal Can boosted its position in shares of Rio Tinto Group by 237.0% in the 2nd quarter. Bank of Montreal Can now owns 2,472,471 shares of the mining company’s stock worth $164,493,000 after purchasing an additional 1,738,752 shares in the last quarter. Natixis Advisors LLC grew its stake 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 acquiring an additional 55,967 shares during the last quarter. First City Capital Management Inc. increased its holdings in shares of Rio Tinto Group by 118.5% during the second quarter. First City Capital Management Inc. now owns 15,178 shares of the mining company’s stock valued at $1,001,000 after acquiring an additional 8,230 shares in the last quarter. QRG Capital Management Inc. raised 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 worth $6,296,000 after purchasing an additional 26,329 shares during the last quarter. Finally, Capstone Investment Advisors LLC bought a new position in Rio Tinto Group in the 1st quarter worth about $1,734,000. Hedge funds and other institutional investors own 19.33% of the company’s stock.

Rio Tinto Group Stock Performance

Shares of Rio Tinto Group stock opened at $65.36 on Friday. Rio Tinto Group has a 1-year low of $59.35 and a 1-year high of $75.09. The company’s fifty day simple moving average is $64.66 and its 200-day simple moving average is $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 business also recently announced a semi-annual dividend, which was paid on Thursday, September 26th. Investors of record on Friday, August 16th were given a dividend of $1.77 per share. The ex-dividend date of this dividend was Friday, August 16th. This represents a yield of 6.8%.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the stock. HSBC raised shares of Rio Tinto Group from a “hold” rating to a “buy” rating in a report on Tuesday, July 23rd. Hsbc Global Res raised Rio Tinto Group to a “strong-buy” rating in a research report on Tuesday, July 23rd. Berenberg Bank upgraded Rio Tinto Group from a “hold” rating to a “buy” rating in a research note on Wednesday, October 2nd. Macquarie restated a “neutral” rating on shares of Rio Tinto Group in a research note on Wednesday. Finally, StockNews.com raised Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a research report on Friday, September 6th. Four analysts have rated the stock with a hold rating, five have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, Rio Tinto Group presently has an average 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.