Thrive Wealth Management LLC Has $348,000 Stock Position in Rio Tinto Group (NYSE:RIO)

Thrive Wealth Management LLC lifted its position in Rio Tinto Group (NYSE:RIO) by 7.9% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,451 shares of the mining company’s stock after buying an additional 401 shares during the quarter. Thrive Wealth Management LLC’s holdings in Rio Tinto Group were worth $348,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Cowa LLC acquired a new stake in shares of Rio Tinto Group in the first quarter worth $26,000. Householder Group Estate & Retirement Specialist LLC acquired a new position in Rio Tinto Group during the 1st quarter valued at $27,000. CNB Bank acquired a new position in Rio Tinto Group during the 4th quarter valued at $28,000. Larson Financial Group LLC raised its stake in Rio Tinto Group by 297.2% during the 1st quarter. Larson Financial Group LLC now owns 433 shares of the mining company’s stock valued at $30,000 after purchasing an additional 324 shares during the last quarter. Finally, First Manhattan Co. raised its stake in Rio Tinto Group by 555.4% during the 4th quarter. First Manhattan Co. now owns 426 shares of the mining company’s stock valued at $30,000 after purchasing an additional 361 shares during the last quarter. 10.03% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Argus cut their target price on shares of Rio Tinto Group from $80.00 to $72.00 in a research note on Wednesday, June 28th. Liberum Capital upgraded shares of Rio Tinto Group from a “sell” rating to a “hold” rating in a research report on Thursday, July 6th. Deutsche Bank Aktiengesellschaft upgraded shares of Rio Tinto Group from a “hold” rating to a “buy” rating in a research report on Monday, June 5th. StockNews.com upgraded shares of Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a research report on Thursday, September 7th. Finally, JPMorgan Chase & Co. upgraded shares of Rio Tinto Group from a “neutral” rating to an “overweight” rating in a research report on Wednesday, September 13th. One analyst has rated the stock with a sell rating, three have issued a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Rio Tinto Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $72.00.

Rio Tinto Group Trading Down 0.9 %

Shares of NYSE RIO opened at $65.27 on Tuesday. The company has a quick ratio of 1.37, a current ratio of 1.99 and a debt-to-equity ratio of 0.25. Rio Tinto Group has a 1 year low of $50.92 and a 1 year high of $80.51. The firm’s 50-day moving average is $63.77 and its 200-day moving average is $64.68.

Rio Tinto Group Increases Dividend

The firm also recently announced a semi-annual dividend, which will be paid on Thursday, September 21st. Stockholders of record on Friday, August 11th will be paid a $1.77 dividend. This represents a dividend yield of 6%. The ex-dividend date of this dividend is Thursday, August 10th. This is a positive change from Rio Tinto Group’s previous semi-annual dividend of $1.10.

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. It offers aluminum, copper, iron ore, diamonds, gold, borates, titanium dioxide, salt, silver, molybdenum, and lithium. The company also owns and operates open pit and underground mines, refineries, smelters, and concentrator facilities, as well as power stations, research, and service facilities.