Rio Tinto Group (NYSE:RIO) Stock Holdings Increased by Avitas Wealth Management LLC

Avitas Wealth Management LLC grew its holdings in shares of Rio Tinto Group (NYSE:RIO) by 1.3% in the third quarter, HoldingsChannel reports. The fund owned 26,456 shares of the mining company’s stock after buying an additional 339 shares during the period. Avitas Wealth Management LLC’s holdings in Rio Tinto Group were worth $1,883,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Geneos Wealth Management Inc. raised its stake in shares of Rio Tinto Group by 55.4% during the first quarter. Geneos Wealth Management Inc. now owns 415 shares of the mining company’s stock valued at $26,000 after purchasing an additional 148 shares in the last quarter. GHP Investment Advisors Inc. bought a new stake in shares of Rio Tinto Group during the 2nd quarter worth about $26,000. Winch Advisory Services LLC bought a new stake in shares of Rio Tinto Group during the 3rd quarter worth about $26,000. FSC Wealth Advisors LLC acquired a new stake in shares of Rio Tinto Group in the 3rd quarter worth approximately $28,000. Finally, Sound Income Strategies LLC boosted its holdings in shares of 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 acquiring an additional 173 shares in the last quarter. Institutional investors own 19.33% of the company’s stock.

Rio Tinto Group Stock Performance

RIO stock opened at $66.58 on Wednesday. The company’s 50 day simple moving average is $65.05 and its 200-day simple moving average is $66.35. Rio Tinto Group has a 52-week low of $59.35 and a 52-week high of $75.09. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.16 and a current ratio of 1.70.

Rio Tinto Group Cuts Dividend

The firm also recently announced 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 Analyst Weigh In

A number of research firms have weighed in on RIO. HSBC upgraded 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 note on Friday, September 6th. Macquarie restated a “neutral” rating on shares of Rio Tinto Group in a research report on Wednesday, October 16th. Hsbc Global Res upgraded shares of Rio Tinto Group to a “strong-buy” rating in a report on Tuesday, July 23rd. Finally, Royal Bank of Canada upgraded shares of Rio Tinto Group to a “hold” rating in a report on Wednesday, July 31st. Four analysts have rated the stock with a hold rating, four have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy”.

About Rio Tinto Group

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.