Armstrong Advisory Group Inc. Grows Position in Rio Tinto Group (NYSE:RIO)

Armstrong Advisory Group Inc. raised its holdings in shares of Rio Tinto Group (NYSE:RIO) by 9.6% during the third quarter, according to its most recent filing with the SEC. The firm owned 1,808 shares of the mining company’s stock after purchasing an additional 159 shares during the period. Armstrong Advisory Group Inc.’s holdings in Rio Tinto Group were worth $129,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of RIO. Centaurus Financial Inc. raised its stake in Rio Tinto Group by 7.5% in the fourth quarter. Centaurus Financial Inc. now owns 4,030 shares of the mining company’s stock worth $300,000 after buying an additional 280 shares in the last quarter. SageView Advisory Group LLC raised its position in shares of Rio Tinto Group by 58.8% in the 4th quarter. SageView Advisory Group LLC now owns 5,466 shares of the mining company’s stock worth $384,000 after acquiring an additional 2,024 shares in the last quarter. HighPoint Advisor Group LLC purchased a new stake in shares of Rio Tinto Group during the 4th quarter worth $238,000. Confluence Investment Management LLC bought a new stake in Rio Tinto Group during the first quarter valued at about $1,050,000. Finally, Davis Capital Management grew its stake in Rio Tinto Group by 24.3% in the first quarter. Davis Capital Management now owns 11,041 shares of the mining company’s stock valued at $709,000 after purchasing an additional 2,158 shares during the last quarter. Institutional investors own 19.33% of the company’s stock.

Analysts Set New Price Targets

Several analysts have commented on the stock. Hsbc Global Res raised shares of Rio Tinto Group to a “strong-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 note on Friday, September 6th. HSBC raised Rio Tinto Group from a “hold” rating to a “buy” rating in a research report on Tuesday, July 23rd. Royal Bank of Canada raised Rio Tinto Group to a “hold” rating in a research report on Wednesday, July 31st. Finally, Berenberg Bank raised Rio Tinto Group from a “hold” rating to a “buy” rating in a research report on Wednesday, October 2nd. Three analysts have rated the stock with a hold rating, five have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy”.

Rio Tinto Group Stock Up 0.7 %

Shares of RIO opened at $67.70 on Tuesday. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.70 and a quick ratio of 1.16. The company’s fifty day moving average price is $64.44 and its 200-day moving average price is $66.32. Rio Tinto Group has a 1-year low of $59.35 and a 1-year high of $75.09.

Rio Tinto Group Cuts Dividend

The company also recently declared a semi-annual dividend, which was paid on Thursday, September 26th. Shareholders of record on Friday, August 16th were paid 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%.

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.