&Partners Acquires New Shares in Rio Tinto Group (NYSE:RIO)

&PARTNERS acquired a new stake in shares of Rio Tinto Group (NYSE:RIO - Free Report) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 6,365 shares of the mining company's stock, valued at approximately $420,000.

Other large investors have also recently modified their holdings of the company. Northwest Investment Counselors LLC bought a new position in Rio Tinto Group during the 1st quarter worth approximately $26,000. Geneos Wealth Management Inc. grew its holdings in shares of 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 last quarter. YHB Investment Advisors Inc. purchased a new position in shares of Rio Tinto Group in the first quarter worth $29,000. LifeSteps Financial Inc. bought a new stake in Rio Tinto Group during the 1st quarter valued at $33,000. Finally, Nisa Investment Advisors LLC purchased a new stake in Rio Tinto Group during the 2nd quarter valued at $36,000. Hedge funds and other institutional investors own 19.33% of the company's stock.

Rio Tinto Group Stock Up 0.4 %

Shares of NYSE RIO traded up $0.28 during mid-day trading on Friday, hitting $63.02. 2,847,032 shares of the stock traded hands, compared to its average volume of 2,721,173. The stock has a fifty day moving average price of $64.96 and a 200-day moving average price of $66.23. 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 52 week low of $59.80 and a 52 week high of $75.09.

Rio Tinto Group Cuts Dividend

The firm also recently announced 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. This represents a dividend yield of 6.8%. The ex-dividend date is Friday, August 16th.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. HSBC raised shares of Rio Tinto Group from a "hold" rating to a "buy" rating in a research note on Tuesday, July 23rd. Hsbc Global Res upgraded Rio Tinto Group to a "strong-buy" rating in a report on Tuesday, July 23rd. Berenberg Bank cut Rio Tinto Group from a "buy" rating to a "hold" rating in a research note on Thursday, June 27th. Royal Bank of Canada raised Rio Tinto Group to a "hold" rating in a research note on Wednesday, July 31st. Finally, StockNews.com raised shares of Rio Tinto Group from a "buy" rating to a "strong-buy" rating in a research report on Tuesday, May 21st. Five research 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. According to data from MarketBeat, Rio Tinto Group currently has an average rating of "Moderate Buy".

Rio Tinto Group 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.