Rio Tinto Group (NYSE:RIO) Stock Holdings Boosted by Ellsworth Advisors LLC

Ellsworth Advisors LLC boosted its stake in Rio Tinto Group (NYSE:RIO) by 20.8% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 10,229 shares of the mining company’s stock after buying an additional 1,761 shares during the period. Ellsworth Advisors LLC’s holdings in Rio Tinto Group were worth $728,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the stock. Northwest Investment Counselors LLC acquired a new position in shares of Rio Tinto Group during the first quarter valued at approximately $26,000. Geneos Wealth Management Inc. raised its stake in shares of 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 buying an additional 148 shares in the last quarter. GHP Investment Advisors Inc. bought a new stake in shares of Rio Tinto Group in the 2nd quarter worth $26,000. Sound Income Strategies LLC lifted 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 buying an additional 173 shares during the period. Finally, Centerpoint Advisors LLC grew its holdings in Rio Tinto Group by 110.0% during the second quarter. Centerpoint Advisors LLC now owns 525 shares of the mining company’s stock worth $35,000 after acquiring an additional 275 shares during the period. Institutional investors and hedge funds own 19.33% of the company’s stock.

Rio Tinto Group Price Performance

Shares of RIO opened at $65.09 on Friday. 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 company’s 50 day moving average price is $64.62 and its 200 day moving average price is $66.33. Rio Tinto Group has a 52 week low of $59.35 and a 52 week high of $75.09.

Rio Tinto Group Cuts Dividend

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

Wall Street Analyst Weigh In

A number of brokerages have weighed in on RIO. StockNews.com raised shares of Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a report on Friday, September 6th. Royal Bank of Canada upgraded shares of Rio Tinto Group to a “hold” rating in a research report on Wednesday, July 31st. HSBC upgraded Rio Tinto Group from a “hold” rating to a “buy” rating in a research report on Tuesday, July 23rd. Berenberg Bank raised shares of Rio Tinto Group from a “hold” rating to a “buy” rating in a research report on Wednesday, October 2nd. Finally, Macquarie reaffirmed a “neutral” rating on shares of Rio Tinto Group in a research note on Wednesday. Four investment analysts have rated the stock with a hold rating, five have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus 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.