Rio Tinto Group (NYSE:RIO) Shares Acquired by Aaron Wealth Advisors LLC

Aaron Wealth Advisors LLC raised its stake in Rio Tinto Group (NYSE:RIO) by 5.8% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,131 shares of the mining company’s stock after buying an additional 279 shares during the period. Aaron Wealth Advisors LLC’s holdings in Rio Tinto Group were worth $338,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently modified their holdings of the company. Northwest Investment Counselors LLC acquired a new position in shares of Rio Tinto Group in the 1st quarter worth $26,000. Geneos Wealth Management Inc. raised its position in shares of 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 purchasing an additional 148 shares during the period. YHB Investment Advisors Inc. acquired a new position in shares of Rio Tinto Group in the 1st quarter valued at $29,000. Accordant Advisory Group Inc purchased a new position in Rio Tinto Group in the 1st quarter worth about $31,000. Finally, LifeSteps Financial Inc. acquired a new stake in Rio Tinto Group during the 1st quarter worth about $33,000. Institutional investors and hedge funds own 19.33% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on RIO. HSBC raised shares of Rio Tinto Group from a “hold” rating to a “buy” rating in a research report on Tuesday, July 23rd. StockNews.com upgraded shares of Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, May 21st. Berenberg Bank downgraded shares of Rio Tinto Group from a “buy” rating to a “hold” rating in a research note on Thursday, June 27th. Hsbc Global Res raised Rio Tinto Group to a “strong-buy” rating in a research report on Tuesday, July 23rd. Finally, Citigroup lowered Rio Tinto Group from a “buy” rating to a “neutral” rating in a research report on Monday, May 20th. Five research analysts have rated the stock with a hold rating, five have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, Rio Tinto Group currently has a consensus rating of “Moderate Buy”.

Rio Tinto Group Stock Up 2.2 %

NYSE RIO traded up $1.39 on Wednesday, reaching $63.39. The stock had a trading volume of 2,217,358 shares, compared to its average volume of 2,726,724. The company has a market capitalization of $79.40 billion, a price-to-earnings ratio of 8.84, a P/E/G ratio of 0.36 and a beta of 0.67. 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 has a 1 year low of $59.80 and a 1 year high of $75.09. The business has a 50 day moving average price of $65.19 and a 200 day moving average price of $66.34.

Rio Tinto Group Cuts Dividend

The business also recently disclosed a semi-annual dividend, which will be paid on Thursday, September 26th. Stockholders of record on Friday, August 16th will be issued a dividend of $1.77 per share. This represents a dividend yield of 6.8%. The ex-dividend date is Friday, August 16th. Rio Tinto Group’s dividend payout ratio is 49.30%.

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.