Stratos Wealth Advisors LLC Acquires 16,072 Shares of Rio Tinto Group (NYSE:RIO)

Stratos Wealth Advisors LLC lifted its holdings in shares of Rio Tinto Group (NYSE:RIO) by 72.9% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 38,109 shares of the mining company’s stock after acquiring an additional 16,072 shares during the quarter. Stratos Wealth Advisors LLC’s holdings in Rio Tinto Group were worth $2,712,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. GHP Investment Advisors Inc. bought a new position in shares of Rio Tinto Group in the second quarter worth $26,000. Northwest Investment Counselors LLC purchased a new stake in Rio Tinto Group during the 1st quarter worth about $26,000. Geneos Wealth Management Inc. boosted its stake in Rio Tinto Group by 55.4% in the 1st quarter. Geneos Wealth Management Inc. now owns 415 shares of the mining company’s stock worth $26,000 after purchasing an additional 148 shares during the period. Sound Income Strategies LLC grew its holdings in Rio Tinto Group by 70.9% during the 3rd quarter. Sound Income Strategies LLC now owns 417 shares of the mining company’s stock valued at $30,000 after buying an additional 173 shares in the last quarter. Finally, Centerpoint Advisors LLC increased its position in shares of Rio Tinto Group by 110.0% during the second quarter. Centerpoint Advisors LLC now owns 525 shares of the mining company’s stock valued at $35,000 after buying an additional 275 shares during the period. 19.33% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on RIO. Berenberg Bank upgraded shares of Rio Tinto Group from a “hold” rating to a “buy” rating in a research report on Wednesday, October 2nd. Royal Bank of Canada upgraded shares of Rio Tinto Group to a “hold” rating in a research report on Wednesday, July 31st. Macquarie reiterated a “neutral” rating on shares of Rio Tinto Group in a research report on Wednesday. StockNews.com upgraded Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a research report on Friday, September 6th. Finally, Hsbc Global Res raised Rio Tinto Group to a “strong-buy” rating in a report on Tuesday, July 23rd. Four equities research 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. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy”.

Rio Tinto Group Stock Up 0.4 %

Shares of NYSE:RIO opened at $65.36 on Friday. The company has a current ratio of 1.70, a quick ratio of 1.16 and a debt-to-equity ratio of 0.23. Rio Tinto Group has a 52-week low of $59.35 and a 52-week high of $75.09. The firm has a fifty day moving average of $64.66 and a 200 day moving average of $66.34.

Rio Tinto Group Cuts Dividend

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