Rio Tinto Group (NYSE:RIO) Shares Purchased by Atomi Financial Group Inc.

Atomi Financial Group Inc. increased its stake in shares of Rio Tinto Group (NYSE:RIO) by 56.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,829 shares of the mining company’s stock after acquiring an additional 5,378 shares during the quarter. Atomi Financial Group Inc.’s holdings in Rio Tinto Group were worth $978,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of RIO. QRG Capital Management Inc. increased its stake in Rio Tinto Group by 38.1% in the second quarter. QRG Capital Management Inc. now owns 95,497 shares of the mining company’s stock valued at $6,296,000 after purchasing an additional 26,329 shares during the period. Campbell & CO Investment Adviser LLC acquired a new position in Rio Tinto Group in the fourth quarter valued at $4,319,000. Capstone Investment Advisors LLC purchased a new stake in shares of Rio Tinto Group in the first quarter valued at about $1,734,000. Salem Investment Counselors Inc. boosted its holdings in shares of Rio Tinto Group by 12.2% in the first quarter. Salem Investment Counselors Inc. now owns 127,216 shares of the mining company’s stock valued at $8,430,000 after acquiring an additional 13,856 shares in the last quarter. Finally, Addenda Capital Inc. boosted its holdings in shares of Rio Tinto Group by 27.7% in the first quarter. Addenda Capital Inc. now owns 100,677 shares of the mining company’s stock valued at $6,620,000 after acquiring an additional 21,864 shares in the last quarter. 19.33% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on RIO. Hsbc Global Res raised shares of Rio Tinto Group to a “strong-buy” rating in a report on Tuesday, July 23rd. Citigroup downgraded shares of Rio Tinto Group from a “buy” rating to a “neutral” rating in a report on Monday, May 20th. HSBC raised shares of Rio Tinto Group from a “hold” rating to a “buy” rating in a report on Tuesday, July 23rd. Royal Bank of Canada raised shares of Rio Tinto Group to a “hold” rating in a report on Wednesday, July 31st. Finally, Berenberg Bank downgraded shares of Rio Tinto Group from a “buy” rating to a “hold” rating in a report on Thursday, June 27th. Five equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy”.

Rio Tinto Group Stock Up 0.4 %

RIO traded up $0.28 during midday trading on Tuesday, reaching $64.00. 2,338,619 shares of the company’s stock were exchanged, compared to its average volume of 2,717,658. Rio Tinto Group has a 1-year low of $59.80 and a 1-year high of $75.09. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.16 and a current ratio of 1.70. The business’s 50-day moving average price is $64.92 and its 200 day moving average price is $66.20.

Rio Tinto Group Cuts Dividend

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

Rio Tinto Group 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.