ACG Wealth purchased a new stake in shares of Rio Tinto Group (NYSE:RIO – Get Rating) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 1,100 shares of the mining company's stock, valued at approximately $67,000.
Several other hedge funds and other institutional investors also recently modified their holdings of the company. Glassman Wealth Services boosted its holdings in shares of Rio Tinto Group by 25.9% during the first quarter. Glassman Wealth Services now owns 612 shares of the mining company's stock valued at $49,000 after acquiring an additional 126 shares during the period. Private Capital Group LLC raised its stake in shares of Rio Tinto Group by 14.9% during the first quarter. Private Capital Group LLC now owns 1,092 shares of the mining company's stock valued at $94,000 after purchasing an additional 142 shares in the last quarter. Credit Agricole S A raised its stake in shares of Rio Tinto Group by 30.0% during the fourth quarter. Credit Agricole S A now owns 650 shares of the mining company's stock valued at $44,000 after purchasing an additional 150 shares in the last quarter. Jeppson Wealth Management LLC raised its stake in shares of Rio Tinto Group by 1.3% during the first quarter. Jeppson Wealth Management LLC now owns 14,293 shares of the mining company's stock valued at $1,149,000 after purchasing an additional 190 shares in the last quarter. Finally, Arete Wealth Advisors LLC raised its stake in shares of Rio Tinto Group by 6.0% during the first quarter. Arete Wealth Advisors LLC now owns 3,434 shares of the mining company's stock valued at $276,000 after purchasing an additional 194 shares in the last quarter. Institutional investors and hedge funds own 10.05% of the company's stock.
Get Rio Tinto Group alerts:Analysts Set New Price Targets
A number of equities research analysts recently weighed in on RIO shares. Macquarie cut shares of Rio Tinto Group from an "outperform" rating to a "neutral" rating in a research note on Tuesday, August 23rd. Berenberg Bank lifted their price objective on shares of Rio Tinto Group from GBX 4,100 ($49.54) to GBX 4,300 ($51.96) in a research note on Friday, July 29th. Morgan Stanley cut their price objective on shares of Rio Tinto Group from GBX 5,990 ($72.38) to GBX 5,900 ($71.29) and set an "overweight" rating on the stock in a research note on Tuesday, August 16th. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Rio Tinto Group from GBX 6,000 ($72.50) to GBX 5,800 ($70.08) in a research note on Wednesday, June 29th. Finally, Credit Suisse Group reiterated an "outperform" rating on shares of Rio Tinto Group in a research report on Wednesday, July 6th. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and eight have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $4,345.71.
Rio Tinto Group Trading Down 5.8 %
Shares of RIO opened at $52.16 on Friday. The business's 50-day moving average price is $57.97 and its 200 day moving average price is $66.44. Rio Tinto Group has a 1-year low of $51.47 and a 1-year high of $84.69. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.79 and a quick ratio of 1.34.Rio Tinto Group Cuts Dividend
The business also recently declared a semi-annual dividend, which was paid on Thursday, September 22nd. Investors of record on Friday, August 12th were paid a $2.67 dividend. The ex-dividend date was Thursday, August 11th. This represents a yield of 11.4%.
About Rio Tinto Group
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Rio Tinto Group engages in exploring, mining, and processing mineral resources worldwide. The company offers aluminum, copper, diamonds, gold, borates, titanium dioxide, salt, iron ore, and lithium. It also owns and operates open pit and underground mines, mills, refineries, smelters, power stations, and research and service facilities.
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