Rio Tinto Group (NYSE:RIO) Shares Acquired by Ovata Capital Management Ltd

Ovata Capital Management Ltd grew its position in Rio Tinto Group (NYSE:RIO) by 17.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 106,230 shares of the mining company’s stock after acquiring an additional 16,061 shares during the quarter. Rio Tinto Group comprises 3.8% of Ovata Capital Management Ltd’s holdings, making the stock its 10th largest position. Ovata Capital Management Ltd’s holdings in Rio Tinto Group were worth $6,989,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in RIO. Community Bank & Trust Waco Texas boosted its stake in Rio Tinto Group by 28.4% during the 2nd quarter. Community Bank & Trust Waco Texas now owns 8,711 shares of the mining company’s stock worth $574,000 after purchasing an additional 1,925 shares during the last quarter. Foundations Investment Advisors LLC purchased a new position in shares of Rio Tinto Group in the second quarter worth about $229,000. Naviter Wealth LLC boosted its position in Rio Tinto Group by 8.6% during the second quarter. Naviter Wealth LLC now owns 26,715 shares of the mining company’s stock worth $1,761,000 after acquiring an additional 2,122 shares during the last quarter. Rhumbline Advisers grew its stake in Rio Tinto Group by 4.2% during the 2nd quarter. Rhumbline Advisers now owns 23,872 shares of the mining company’s stock valued at $1,574,000 after acquiring an additional 962 shares in the last quarter. Finally, Natixis Advisors LLC grew its stake in Rio Tinto Group by 8.7% during the 2nd quarter. Natixis Advisors LLC now owns 695,731 shares of the mining company’s stock valued at $45,870,000 after acquiring an additional 55,967 shares in the last quarter. 19.33% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on RIO. Berenberg Bank cut Rio Tinto Group from a “buy” rating to a “hold” rating in a report on Thursday, June 27th. StockNews.com lowered Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a research note on Thursday, August 29th. Royal Bank of Canada upgraded Rio Tinto Group to a “hold” rating in a report on Wednesday, July 31st. HSBC upgraded Rio Tinto Group from a “hold” rating to a “buy” rating in a report on Tuesday, July 23rd. Finally, Citigroup lowered shares of Rio Tinto Group from a “buy” rating to a “neutral” rating in a report on Monday, May 20th. Five equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy”.

Rio Tinto Group Trading Up 0.5 %

Shares of Rio Tinto Group stock opened at $60.40 on Friday. The company has a quick ratio of 1.16, a current ratio of 1.70 and a debt-to-equity ratio of 0.23. Rio Tinto Group has a 52 week low of $59.80 and a 52 week high of $75.09. The business’s fifty day simple moving average is $64.24 and its 200-day simple moving average is $65.92.

Rio Tinto Group Cuts Dividend

The business 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. 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.