Rio Tinto Group (NYSE:RIO) Shares Acquired by Columbus Macro LLC

Columbus Macro LLC increased its holdings in shares of Rio Tinto Group (NYSE:RIO) by 33.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 25,731 shares of the mining company’s stock after purchasing an additional 6,415 shares during the period. Columbus Macro LLC’s holdings in Rio Tinto Group were worth $1,811,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. GHP Investment Advisors Inc. acquired a new position in Rio Tinto Group in the 2nd quarter valued at $26,000. Northwest Investment Counselors LLC acquired a new position in shares of Rio Tinto Group during the first quarter worth about $26,000. Geneos Wealth Management Inc. raised its holdings in Rio Tinto Group by 55.4% during the first quarter. Geneos Wealth Management Inc. now owns 415 shares of the mining company’s stock worth $26,000 after purchasing an additional 148 shares in the last quarter. Sound Income Strategies LLC lifted its position in Rio Tinto Group by 70.9% in the third quarter. Sound Income Strategies LLC now owns 417 shares of the mining company’s stock valued at $30,000 after purchasing an additional 173 shares during the period. Finally, Centerpoint Advisors LLC boosted its holdings in Rio Tinto Group by 110.0% in the 2nd quarter. Centerpoint Advisors LLC now owns 525 shares of the mining company’s stock valued at $35,000 after purchasing an additional 275 shares in the last quarter. 19.33% of the stock is owned by hedge funds and other institutional investors.

Rio Tinto Group Stock Performance

Shares of Rio Tinto Group stock traded up $0.27 on Friday, hitting $65.36. The company’s stock had a trading volume of 2,430,082 shares, compared to its average volume of 2,780,177. 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 price of $64.66 and a 200-day moving average price of $66.34. 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 Cuts Dividend

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

Wall Street Analyst Weigh In

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

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.