Commonwealth Equity Services LLC Has $13.08 Million Stake in Rio Tinto Group (NYSE:RIO)

Commonwealth Equity Services LLC lifted its holdings in Rio Tinto Group (NYSE:RIO - Free Report) by 12.3% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 198,371 shares of the mining company's stock after purchasing an additional 21,746 shares during the period. Commonwealth Equity Services LLC's holdings in Rio Tinto Group were worth $13,079,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in RIO. Russell Investments Group Ltd. grew its position in Rio Tinto Group by 0.4% in the 1st quarter. Russell Investments Group Ltd. now owns 39,964 shares of the mining company's stock worth $2,547,000 after purchasing an additional 147 shares during the last quarter. Geneos Wealth Management Inc. increased its stake in Rio Tinto Group by 55.4% during the first quarter. Geneos Wealth Management Inc. now owns 415 shares of the mining company's stock valued at $26,000 after acquiring an additional 148 shares during the period. EverSource Wealth Advisors LLC raised its holdings in Rio Tinto Group by 8.5% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,922 shares of the mining company's stock valued at $143,000 after acquiring an additional 150 shares in the last quarter. Optas LLC raised its holdings in Rio Tinto Group by 4.2% in the 1st quarter. Optas LLC now owns 3,833 shares of the mining company's stock valued at $244,000 after acquiring an additional 154 shares in the last quarter. Finally, Eagle Bluffs Wealth Management LLC raised its holdings in Rio Tinto Group by 1.1% in the 2nd quarter. Eagle Bluffs Wealth Management LLC now owns 14,997 shares of the mining company's stock valued at $989,000 after acquiring an additional 163 shares in the last quarter. Institutional investors and hedge funds own 19.33% of the company's stock.

Rio Tinto Group Price Performance

NYSE RIO traded up $0.31 during trading hours on Thursday, reaching $60.40. 2,035,146 shares of the company's stock were exchanged, compared to its average volume of 2,702,258. The firm has a fifty day moving average of $64.35 and a 200-day moving average of $65.95. Rio Tinto Group has a one year low of $59.80 and a one year high of $75.09. The company has a quick ratio of 1.16, a current ratio of 1.70 and a debt-to-equity ratio of 0.23.

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 of this dividend is Friday, August 16th.

Analyst Ratings Changes

A number of research analysts recently commented on the company. Berenberg Bank lowered Rio Tinto Group from a "buy" rating to a "hold" rating in a research note on Thursday, June 27th. HSBC raised shares of Rio Tinto Group from a "hold" rating to a "buy" rating in a 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. StockNews.com cut shares of Rio Tinto Group from a "strong-buy" rating to a "buy" rating in a research note on Thursday, August 29th. Finally, Citigroup lowered Rio Tinto Group from a "buy" rating to a "neutral" rating in a research note on Monday, May 20th. Five equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy".

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.