Rio Tinto Group (NYSE:RIO) Stake Raised by QRG Capital Management Inc.

QRG Capital Management Inc. grew its stake in Rio Tinto Group (NYSE:RIO - Free Report) by 38.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 95,497 shares of the mining company's stock after purchasing an additional 26,329 shares during the period. QRG Capital Management Inc.'s holdings in Rio Tinto Group were worth $6,296,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Wellington Management Group LLP boosted its position in Rio Tinto Group by 7.1% in the 4th quarter. Wellington Management Group LLP now owns 24,838,524 shares of the mining company's stock valued at $1,849,476,000 after buying an additional 1,644,751 shares during the last quarter. Fisher Asset Management LLC increased its holdings in Rio Tinto Group by 3.1% during the 4th quarter. Fisher Asset Management LLC now owns 16,045,541 shares of the mining company's stock worth $1,194,751,000 after purchasing an additional 475,329 shares in the last quarter. Earnest Partners LLC increased its holdings in Rio Tinto Group by 1.4% during the 1st quarter. Earnest Partners LLC now owns 1,395,961 shares of the mining company's stock worth $88,979,000 after purchasing an additional 19,334 shares in the last quarter. National Bank of Canada FI increased its holdings in Rio Tinto Group by 296.2% during the 1st quarter. National Bank of Canada FI now owns 1,022,765 shares of the mining company's stock worth $71,382,000 after purchasing an additional 764,635 shares in the last quarter. Finally, MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH grew its holdings in shares of Rio Tinto Group by 22.7% in the 1st quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 978,859 shares of the mining company's stock valued at $62,392,000 after acquiring an additional 180,874 shares in the last quarter. 19.33% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Citigroup cut Rio Tinto Group from a "buy" rating to a "neutral" rating in a report on Monday, May 20th. HSBC upgraded shares of Rio Tinto Group from a "hold" rating to a "buy" rating in a research report on Tuesday, July 23rd. StockNews.com raised shares of Rio Tinto Group from a "buy" rating to a "strong-buy" rating in a research note on Tuesday, May 21st. Berenberg Bank cut shares of Rio Tinto Group from a "buy" rating to a "hold" rating in a research note on Thursday, June 27th. Finally, Hsbc Global Res raised shares of Rio Tinto Group to a "strong-buy" rating in a research note on Tuesday, July 23rd. Five analysts have rated the stock with a hold rating, five have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy".

Rio Tinto Group Trading Up 0.5 %

RIO stock traded up $0.32 during midday trading on Friday, hitting $63.24. The stock had a trading volume of 2,652,539 shares, compared to its average volume of 2,968,796. The firm has a market cap of $79.21 billion, a P/E ratio of 8.83, a price-to-earnings-growth ratio of 0.35 and a beta of 0.67. The company has a current ratio of 1.70, a quick ratio of 1.16 and a debt-to-equity ratio of 0.23. Rio Tinto Group has a 1-year low of $58.27 and a 1-year high of $75.09. The business has a fifty day moving average price of $66.00 and a two-hundred day moving average price of $66.70.

Rio Tinto Group Cuts Dividend

The business also recently disclosed a semi-annual dividend, which will be paid on Thursday, September 26th. Stockholders of record on Friday, August 16th will be issued a dividend of $1.77 per share. The ex-dividend date of this dividend is Friday, August 16th. This represents a dividend yield of 6.8%. Rio Tinto Group's dividend payout ratio is currently 49.30%.

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.