Rio Tinto Group (NYSE:RIO) Shares Bought by Bank of Montreal Can

Bank of Montreal Can raised its holdings in shares of Rio Tinto Group (NYSE:RIO - Free Report) by 237.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,472,471 shares of the mining company's stock after acquiring an additional 1,738,752 shares during the period. Bank of Montreal Can owned approximately 0.20% of Rio Tinto Group worth $164,493,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in RIO. Wellington Management Group LLP lifted its holdings in Rio Tinto Group by 7.1% in the fourth quarter. Wellington Management Group LLP now owns 24,838,524 shares of the mining company's stock valued at $1,849,476,000 after acquiring an additional 1,644,751 shares during the period. National Bank of Canada FI grew its position in shares of 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 during the period. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund acquired a new stake in shares of Rio Tinto Group during the 2nd quarter valued at about $48,129,000. 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 worth $58,967,000 after purchasing an additional 672,095 shares during the period. Finally, Fisher Asset Management LLC boosted its position in Rio Tinto Group by 2.9% during the fourth 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. 19.33% of the stock is owned by hedge funds and other institutional investors.

Rio Tinto Group Stock Up 4.4 %

NYSE RIO traded up $2.84 on Tuesday, reaching $67.42. 4,123,399 shares of the company were exchanged, compared to its average volume of 2,698,233. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.16 and a current ratio of 1.70. The business's fifty day moving average price is $63.04 and its 200 day moving average price is $65.68. Rio Tinto Group has a fifty-two week low of $59.35 and a fifty-two week high of $75.09.

Rio Tinto Group Cuts Dividend

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

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on RIO. Berenberg Bank downgraded Rio Tinto Group from a "buy" rating to a "hold" rating in a research note on Thursday, June 27th. Hsbc Global Res upgraded shares of Rio Tinto Group to a "strong-buy" rating in a research report on Tuesday, July 23rd. HSBC upgraded Rio Tinto Group from a "hold" rating to a "buy" rating in a research note on Tuesday, July 23rd. StockNews.com upgraded Rio Tinto Group from a "buy" rating to a "strong-buy" rating in a research report on Friday, September 6th. Finally, Royal Bank of Canada upgraded Rio Tinto Group to a "hold" rating in a research report on Wednesday, July 31st. Five equities research analysts have rated the stock with a hold rating, four have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus 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.