Rio Tinto Group (NYSE:RIO) Shares Acquired by D.A. Davidson & CO.

D.A. Davidson & CO. increased its stake in Rio Tinto Group (NYSE:RIO - Free Report) by 11.0% in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 96,874 shares of the mining company's stock after acquiring an additional 9,615 shares during the quarter. D.A. Davidson & CO.'s holdings in Rio Tinto Group were worth $6,387,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in RIO. Wellington Management Group LLP boosted its stake in Rio Tinto Group by 7.1% during the 4th quarter. Wellington Management Group LLP now owns 24,838,524 shares of the mining company's stock worth $1,849,476,000 after purchasing an additional 1,644,751 shares during the last quarter. National Bank of Canada FI grew its stake 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 valued at $71,382,000 after acquiring an additional 764,635 shares in the last quarter. SPX Gestao de Recursos Ltda raised its holdings in Rio Tinto Group by 560.8% in the 4th quarter. SPX Gestao de Recursos Ltda now owns 791,933 shares of the mining company's stock valued at $58,967,000 after acquiring an additional 672,095 shares during the last quarter. Fisher Asset Management LLC lifted its stake in Rio Tinto Group by 2.9% in the 4th quarter. Fisher Asset Management LLC now owns 16,019,748 shares of the mining company's stock worth $1,192,830,000 after purchasing an additional 449,536 shares in the last quarter. Finally, Palliser Capital UK Ltd boosted its holdings in shares of Rio Tinto Group by 690.6% during the 2nd quarter. Palliser Capital UK Ltd now owns 499,675 shares of the mining company's stock worth $32,944,000 after purchasing an additional 436,475 shares during the last quarter. 19.33% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

RIO has been the topic of a number of analyst reports. HSBC upgraded Rio Tinto Group from a "hold" rating to a "buy" rating in a research report on Tuesday, July 23rd. Royal Bank of Canada raised shares of Rio Tinto Group to a "hold" rating in a research report on Wednesday, July 31st. Citigroup downgraded shares of Rio Tinto Group from a "buy" rating to a "neutral" rating in a research note on Monday, May 20th. Hsbc Global Res raised shares of Rio Tinto Group to a "strong-buy" rating in a research note on Tuesday, July 23rd. Finally, StockNews.com lowered shares of Rio Tinto Group from a "strong-buy" rating to a "buy" rating in a research report on Thursday, August 29th. Five research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy".

Rio Tinto Group Trading Down 4.6 %

Shares of RIO traded down $2.93 during midday trading on Tuesday, hitting $60.34. 3,715,173 shares of the stock were exchanged, compared to its average volume of 2,709,510. Rio Tinto Group has a 52-week low of $59.80 and a 52-week high of $75.09. The company has a current ratio of 1.70, a quick ratio of 1.16 and a debt-to-equity ratio of 0.23. The stock has a fifty day simple moving average of $64.61 and a 200 day simple moving average of $66.06.

Rio Tinto Group Cuts Dividend

The company also recently announced a semi-annual dividend, which will be paid on Thursday, September 26th. Shareholders of record on Friday, August 16th will be given a $1.77 dividend. This represents a yield of 6.8%. The ex-dividend date is Friday, August 16th.

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.