Net Worth Advisory Group Takes Position in Rio Tinto Group (NYSE:RIO)

Net Worth Advisory Group acquired a new position in shares of Rio Tinto Group (NYSE:RIO) in the third quarter, Holdings Channel reports. The firm acquired 11,529 shares of the mining company’s stock, valued at approximately $821,000.

Other institutional investors also recently added to or reduced their stakes in the company. Stratos Wealth Advisors LLC raised its holdings in Rio Tinto Group by 72.9% in the third quarter. Stratos Wealth Advisors LLC now owns 38,109 shares of the mining company’s stock worth $2,712,000 after purchasing an additional 16,072 shares in the last quarter. Aaron Wealth Advisors LLC grew its position in shares of Rio Tinto Group by 31.2% in the 3rd quarter. Aaron Wealth Advisors LLC now owns 6,731 shares of the mining company’s stock worth $479,000 after buying an additional 1,600 shares during the last quarter. Stonegate Investment Group LLC raised its stake in shares of Rio Tinto Group by 3.4% during the 3rd quarter. Stonegate Investment Group LLC now owns 5,467 shares of the mining company’s stock worth $389,000 after acquiring an additional 179 shares in the last quarter. Ellsworth Advisors LLC lifted its position in Rio Tinto Group by 20.8% during the third quarter. Ellsworth Advisors LLC now owns 10,229 shares of the mining company’s stock valued at $728,000 after acquiring an additional 1,761 shares during the last quarter. Finally, Bleakley Financial Group LLC purchased a new position in Rio Tinto Group in the third quarter worth $221,000. Institutional investors own 19.33% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. StockNews.com raised Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a research report on Friday, September 6th. Royal Bank of Canada raised Rio Tinto Group to a “hold” rating in a report on Wednesday, July 31st. Berenberg Bank upgraded shares of Rio Tinto Group from a “hold” rating to a “buy” rating in a report on Wednesday, October 2nd. Hsbc Global Res upgraded shares of Rio Tinto Group to a “strong-buy” rating in a research note on Tuesday, July 23rd. Finally, HSBC raised shares of Rio Tinto Group from a “hold” rating to a “buy” rating in a research report on Tuesday, July 23rd. Four analysts have rated the stock with a hold rating, five have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, Rio Tinto Group presently has an average rating of “Moderate Buy”.

Rio Tinto Group Price Performance

Shares of RIO stock opened at $65.36 on Friday. 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 fifty-two week low of $59.35 and a fifty-two week high of $75.09. The stock’s 50-day simple moving average is $64.66 and its 200-day simple moving average is $66.33.

Rio Tinto Group Cuts Dividend

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

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.