Stratos Wealth Advisors LLC Buys 16,072 Shares of Rio Tinto Group (NYSE:RIO)

Stratos Wealth Advisors LLC boosted its position in Rio Tinto Group (NYSE:RIO) by 72.9% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 38,109 shares of the mining company’s stock after buying an additional 16,072 shares during the period. Stratos Wealth Advisors LLC’s holdings in Rio Tinto Group were worth $2,712,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Bank of Montreal Can raised its position in shares of Rio Tinto Group by 237.0% during the second 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 during the period. Natixis Advisors LLC lifted 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 valued at $45,870,000 after buying an additional 55,967 shares in the last quarter. First City Capital Management Inc. grew 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 buying an additional 8,230 shares during the last quarter. QRG Capital Management Inc. increased its position in shares of Rio Tinto Group by 38.1% during the second quarter. QRG Capital Management Inc. now owns 95,497 shares of the mining company’s stock worth $6,296,000 after acquiring an additional 26,329 shares in the last quarter. Finally, Capstone Investment Advisors LLC acquired a new stake in shares of Rio Tinto Group in the 1st quarter worth about $1,734,000. Institutional investors own 19.33% of the company’s stock.

Rio Tinto Group Trading Up 0.4 %

Shares of NYSE:RIO 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 business has a fifty day moving average price of $64.66 and a two-hundred day moving average price of $66.34. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.16 and a current ratio of 1.70.

Rio Tinto Group Cuts Dividend

The business also recently declared 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 was Friday, August 16th. This represents a yield of 6.8%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Berenberg Bank upgraded Rio Tinto Group from a “hold” rating to a “buy” rating in a research note on Wednesday, October 2nd. 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. Hsbc Global Res raised shares of Rio Tinto Group to a “strong-buy” rating in a report on Tuesday, July 23rd. Finally, Macquarie reiterated a “neutral” rating on shares of Rio Tinto Group in a report on Wednesday. Four investment 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 MarketBeat.com, the company presently has a consensus rating of “Moderate Buy”.

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.