Courier Capital LLC Buys 897 Shares of Rio Tinto Group (NYSE:RIO)

Courier Capital LLC grew its stake in Rio Tinto Group (NYSE:RIO) by 6.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,197 shares of the mining company’s stock after acquiring an additional 897 shares during the period. Courier Capital LLC’s holdings in Rio Tinto Group were worth $936,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Northwest Investment Counselors LLC bought a new stake in shares of Rio Tinto Group in the first quarter valued at about $26,000. Geneos Wealth Management Inc. lifted its position in shares of Rio Tinto Group by 55.4% in the 1st 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. bought a new position in shares of Rio Tinto Group during the first quarter valued at approximately $29,000. Accordant Advisory Group Inc purchased a new position in Rio Tinto Group during the first quarter valued at approximately $31,000. Finally, LifeSteps Financial Inc. bought a new position in Rio Tinto Group in the first quarter worth approximately $33,000. Institutional investors own 19.33% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. StockNews.com upgraded Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a report on Tuesday, May 21st. Berenberg Bank lowered shares of Rio Tinto Group from a “buy” rating to a “hold” rating in a research report on Thursday, June 27th. Hsbc Global Res raised Rio Tinto Group to a “strong-buy” rating in a research report on Tuesday, July 23rd. Citigroup lowered Rio Tinto Group from a “buy” rating to a “neutral” rating in a research note on Monday, May 20th. Finally, HSBC upgraded shares of Rio Tinto Group from a “hold” rating to a “buy” rating in a research note on Tuesday, July 23rd. Five equities research 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. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy”.

Rio Tinto Group Price Performance

RIO stock traded down $0.73 during trading on Thursday, hitting $62.66. 938,166 shares of the company traded hands, compared to its average volume of 2,715,685. 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 has a 1 year low of $59.80 and a 1 year high of $75.09. The stock’s 50-day simple moving average is $65.12 and its 200 day simple moving average is $66.32.

Rio Tinto Group Cuts Dividend

The company also recently declared a semi-annual dividend, which will be paid on Thursday, September 26th. Investors of record on Friday, August 16th will be issued a dividend of $1.77 per share. This represents a yield of 6.8%. The ex-dividend date of this dividend is 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.