Atomi Financial Group Inc. Grows Position in Rio Tinto Group (NYSE:RIO)

Atomi Financial Group Inc. increased its holdings in shares of Rio Tinto Group (NYSE:RIO - Free Report) by 56.9% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 14,829 shares of the mining company's stock after purchasing an additional 5,378 shares during the quarter. Atomi Financial Group Inc.'s holdings in Rio Tinto Group were worth $978,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of RIO. International Assets Investment Management LLC bought a new stake in Rio Tinto Group in the 4th quarter worth approximately $7,954,000. New York State Common Retirement Fund boosted its stake in shares of Rio Tinto Group by 50.1% in the 4th quarter. New York State Common Retirement Fund now owns 340,716 shares of the mining company's stock worth $25,370,000 after buying an additional 113,778 shares during the last quarter. Parkside Financial Bank & Trust grew its holdings in shares of Rio Tinto Group by 39.3% in the fourth quarter. Parkside Financial Bank & Trust now owns 553 shares of the mining company's stock worth $41,000 after acquiring an additional 156 shares during the period. GAMMA Investing LLC purchased a new stake in Rio Tinto Group during the fourth quarter valued at $122,000. Finally, Yousif Capital Management LLC lifted its holdings in Rio Tinto Group by 12.9% in the fourth quarter. Yousif Capital Management LLC now owns 23,199 shares of the mining company's stock valued at $1,727,000 after acquiring an additional 2,645 shares during the period. 19.33% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. Citigroup downgraded Rio Tinto Group from a "buy" rating to a "neutral" rating in a research note on Monday, May 20th. Hsbc Global Res upgraded shares of Rio Tinto Group to a "strong-buy" rating in a research report on Tuesday, July 23rd. Berenberg Bank downgraded shares of Rio Tinto Group from a "buy" rating to a "hold" rating in a research report on Thursday, June 27th. HSBC raised shares of Rio Tinto Group from a "hold" rating to a "buy" rating in a research report on Tuesday, July 23rd. Finally, Royal Bank of Canada raised Rio Tinto Group to a "hold" rating in a report on Wednesday, July 31st. Five equities research analysts have rated the stock with a hold rating, five have issued a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy".

Rio Tinto Group Trading Up 0.4 %

Shares of RIO traded up $0.28 during mid-day trading on Tuesday, reaching $64.00. The stock had a trading volume of 2,336,326 shares, compared to its average volume of 2,717,658. Rio Tinto Group has a 12 month low of $59.80 and a 12 month high of $75.09. The business has a fifty day moving average of $64.92 and a 200 day moving average of $66.20. 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 declared a semi-annual dividend, which will be paid on Thursday, September 26th. Shareholders of record on Friday, August 16th will be paid a $1.77 dividend. The ex-dividend date is Friday, August 16th. This represents a yield of 6.8%.

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.