Rio Tinto Group (NYSE:RIO - Get Free Report)'s share price gapped down prior to trading on Tuesday . The stock had previously closed at $63.27, but opened at $61.00. Rio Tinto Group shares last traded at $60.47, with a volume of 1,098,240 shares trading hands.
Analyst Ratings Changes
A number of research firms have issued reports on RIO. Royal Bank of Canada upgraded shares of Rio Tinto Group to a "hold" rating in a research report on Wednesday, July 31st. StockNews.com downgraded Rio Tinto Group from a "strong-buy" rating to a "buy" rating in a report on Thursday, August 29th. HSBC upgraded shares of Rio Tinto Group from a "hold" rating to a "buy" rating in a research note on Tuesday, July 23rd. Hsbc Global Res raised shares of Rio Tinto Group to a "strong-buy" rating in a research note on Tuesday, July 23rd. Finally, Citigroup lowered Rio Tinto Group from a "buy" rating to a "neutral" rating in a report on Monday, May 20th. Five analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy".
Get Our Latest Research Report on Rio Tinto Group
Rio Tinto Group Trading Down 4.6 %
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 business's 50 day moving average is $64.61 and its 200-day moving average is $66.06.
Rio Tinto Group Cuts Dividend
The firm also recently declared a semi-annual dividend, which will be paid on Thursday, September 26th. Stockholders of record on Friday, August 16th will be given a $1.77 dividend. This represents a dividend yield of 6.8%. The ex-dividend date of this dividend is Friday, August 16th.
Institutional Inflows and Outflows
Several institutional investors have recently added to or reduced their stakes in the business. GHP Investment Advisors Inc. bought a new position in shares of Rio Tinto Group during the 2nd quarter worth about $26,000. Northwest Investment Counselors LLC acquired a new position in shares of Rio Tinto Group in the first quarter valued at $26,000. Geneos Wealth Management Inc. lifted its position in Rio Tinto Group by 55.4% in 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 during the period. YHB Investment Advisors Inc. acquired a new stake in Rio Tinto Group during the first quarter worth $29,000. Finally, LifeSteps Financial Inc. bought a new stake in Rio Tinto Group in the 1st quarter valued at $33,000. 19.33% of the stock is owned by institutional investors.
About Rio Tinto Group
(
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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.
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