Leisure Capital Management Grows Position in Rio Tinto Group (NYSE:RIO)

Leisure Capital Management increased its position in shares of Rio Tinto Group (NYSE:RIO) by 3.7% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 15,947 shares of the mining company’s stock after buying an additional 574 shares during the quarter. Leisure Capital Management’s holdings in Rio Tinto Group were worth $1,135,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Northwest Investment Counselors LLC purchased a new position in Rio Tinto Group during the 1st quarter worth approximately $26,000. Geneos Wealth Management Inc. grew its stake in Rio Tinto Group by 55.4% during the 1st quarter. Geneos Wealth Management Inc. now owns 415 shares of the mining company’s stock worth $26,000 after buying an additional 148 shares during the last quarter. GHP Investment Advisors Inc. purchased a new position in Rio Tinto Group during the 2nd quarter worth approximately $26,000. Sound Income Strategies LLC grew its stake 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 worth $30,000 after buying an additional 173 shares during the last quarter. Finally, Centerpoint Advisors LLC grew its stake in Rio Tinto Group by 110.0% during the 2nd quarter. Centerpoint Advisors LLC now owns 525 shares of the mining company’s stock worth $35,000 after buying an additional 275 shares during the last quarter. Hedge funds and other institutional investors own 19.33% of the company’s stock.

Rio Tinto Group Trading Down 0.6 %

Shares of RIO traded down $0.42 during mid-day trading on Wednesday, hitting $66.05. The company’s stock had a trading volume of 1,075,504 shares, compared to its average volume of 2,765,164. The company has a quick ratio of 1.16, a current ratio of 1.70 and a debt-to-equity ratio of 0.23. The firm has a 50-day simple moving average of $64.51 and a 200 day simple moving average of $66.34. Rio Tinto Group has a 1-year low of $59.35 and a 1-year high of $75.09.

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 issued 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 Analysts Forecast Growth

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

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.