Rio Tinto Group (NYSE:RIO) Shares Bought by Capital Wealth Planning LLC

Capital Wealth Planning LLC raised its holdings in Rio Tinto Group (NYSE:RIO) by 81.3% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 26,433 shares of the mining company’s stock after acquiring an additional 11,857 shares during the quarter. Capital Wealth Planning LLC’s holdings in Rio Tinto Group were worth $1,743,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in RIO. Wellington Management Group LLP increased its position in Rio Tinto Group by 7.1% during the 4th quarter. Wellington Management Group LLP now owns 24,838,524 shares of the mining company’s stock worth $1,849,476,000 after purchasing an additional 1,644,751 shares in the last quarter. National Bank of Canada FI grew its holdings in Rio Tinto Group by 296.2% in the 1st quarter. National Bank of Canada FI now owns 1,022,765 shares of the mining company’s stock valued at $71,382,000 after buying an additional 764,635 shares during the period. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund acquired a new position in shares of Rio Tinto Group in the 2nd quarter valued at about $48,129,000. SPX Gestao de Recursos Ltda lifted its stake in shares of Rio Tinto Group by 560.8% in the 4th quarter. SPX Gestao de Recursos Ltda now owns 791,933 shares of the mining company’s stock valued at $58,967,000 after purchasing an additional 672,095 shares in the last quarter. Finally, Fisher Asset Management LLC lifted its stake in shares of Rio Tinto Group by 2.9% in the 4th quarter. Fisher Asset Management LLC now owns 16,019,748 shares of the mining company’s stock valued at $1,192,830,000 after purchasing an additional 449,536 shares in the last quarter. Hedge funds and other institutional investors own 19.33% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on RIO shares. Royal Bank of Canada raised Rio Tinto Group to a “hold” rating in a research note on Wednesday, July 31st. Berenberg Bank lowered Rio Tinto Group from a “buy” rating to a “hold” rating in a research note on Thursday, June 27th. Citigroup lowered Rio Tinto Group from a “buy” rating to a “neutral” rating in a research note on Monday, May 20th. StockNews.com raised Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a research note on Friday, September 6th. Finally, HSBC raised Rio Tinto Group from a “hold” rating to a “buy” rating in a research report on Tuesday, July 23rd. Five equities research analysts have rated the stock with a hold rating, four have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy”.

Rio Tinto Group Stock Up 1.0 %

Rio Tinto Group stock opened at $62.55 on Monday. The stock’s 50 day moving average price is $63.51 and its 200 day moving average price is $65.71. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.70 and a quick ratio of 1.16. Rio Tinto Group has a one year low of $59.35 and a one year high of $75.09.

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 given a $1.77 dividend. This represents a dividend yield of 6.8%. The ex-dividend date is Friday, August 16th.

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.