Rio Tinto Group (NYSE:RIO) Shares Bought by Aprio Wealth Management LLC

Aprio Wealth Management LLC grew its stake in Rio Tinto Group (NYSE:RIO) by 9.9% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 4,531 shares of the mining company’s stock after buying an additional 408 shares during the quarter. Aprio Wealth Management LLC’s holdings in Rio Tinto Group were worth $299,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of RIO. Albion Financial Group UT acquired a new stake in shares of Rio Tinto Group during the 2nd quarter worth approximately $66,000. Cullinan Associates Inc. purchased a new position in Rio Tinto Group in the second quarter valued at $774,000. Park Avenue Securities LLC raised its position in shares of Rio Tinto Group by 19.0% in the second quarter. Park Avenue Securities LLC now owns 14,981 shares of the mining company’s stock worth $988,000 after acquiring an additional 2,397 shares during the period. Astoria Portfolio Advisors LLC. boosted its stake in shares of Rio Tinto Group by 9.9% during the 2nd quarter. Astoria Portfolio Advisors LLC. now owns 8,389 shares of the mining company’s stock worth $553,000 after acquiring an additional 755 shares in the last quarter. Finally, Kingswood Wealth Advisors LLC grew its position in shares of Rio Tinto Group by 3.9% during the 2nd quarter. Kingswood Wealth Advisors LLC now owns 7,267 shares of the mining company’s stock valued at $479,000 after acquiring an additional 273 shares during the period. Hedge funds and other institutional investors own 19.33% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on RIO. Berenberg Bank downgraded Rio Tinto Group from a “buy” rating to a “hold” rating in a research note on Thursday, June 27th. Citigroup downgraded shares of Rio Tinto Group from a “buy” rating to a “neutral” rating in a research note on Monday, May 20th. Royal Bank of Canada upgraded Rio Tinto Group to a “hold” rating in a research report on Wednesday, July 31st. Hsbc Global Res upgraded Rio Tinto Group to a “strong-buy” rating in a research report on Tuesday, July 23rd. Finally, StockNews.com upgraded Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a report on Tuesday, May 21st. Five analysts have rated the stock with a hold rating, five have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy”.

Rio Tinto Group Stock Up 0.7 %

NYSE:RIO traded up $0.45 during trading hours on Thursday, reaching $62.99. 1,878,117 shares of the stock were exchanged, compared to its average volume of 2,733,731. Rio Tinto Group has a twelve month low of $58.27 and a twelve month high of $75.09. The company has a quick ratio of 1.17, a current ratio of 1.70 and a debt-to-equity ratio of 0.23. The business has a 50-day moving average of $66.27 and a two-hundred day moving average of $66.79.

Rio Tinto Group Cuts Dividend

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

Rio Tinto Group Company 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.