Burford Brothers Inc. Makes New $1.10 Million Investment in Rio Tinto Group (NYSE:RIO)

Burford Brothers Inc. acquired a new stake in Rio Tinto Group (NYSE:RIO - Free Report) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 15,472 shares of the mining company's stock, valued at approximately $1,101,000.

Several other institutional investors also recently modified their holdings of RIO. Bank of Montreal Can boosted its position in Rio Tinto Group by 237.0% during the second quarter. Bank of Montreal Can now owns 2,472,471 shares of the mining company's stock worth $164,493,000 after purchasing an additional 1,738,752 shares during the period. National Bank of Canada FI boosted its holdings 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 worth $71,382,000 after buying 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 position in Rio Tinto Group in the 2nd quarter valued at about $48,129,000. Mediolanum International Funds Ltd acquired a new position in Rio Tinto Group in the 3rd quarter valued at about $33,590,000. Finally, Palliser Capital UK Ltd raised its holdings in Rio Tinto Group by 690.6% in the 2nd quarter. Palliser Capital UK Ltd now owns 499,675 shares of the mining company's stock valued at $32,944,000 after acquiring an additional 436,475 shares during the period. 19.33% of the stock is currently owned by institutional investors and hedge funds.

Rio Tinto Group Price Performance

Shares of NYSE:RIO traded up $0.67 during trading on Friday, reaching $65.28. 2,574,420 shares of the company traded hands, compared to its average volume of 2,770,920. The firm has a market capitalization of $81.78 billion, a PE ratio of 9.56, a PEG ratio of 0.39 and a beta of 0.66. Rio Tinto Group has a 52 week low of $59.35 and a 52 week 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. The company's 50 day moving average is $64.89 and its two-hundred day moving average is $66.35.

Rio Tinto Group Cuts Dividend

The company also recently disclosed a semi-annual dividend, which was paid on Thursday, September 26th. Investors of record on Friday, August 16th were given a dividend of $1.77 per share. The ex-dividend date was Friday, August 16th. This represents a yield of 6.8%. Rio Tinto Group's dividend payout ratio is 51.68%.

Wall Street Analyst Weigh In

Several research firms have recently commented on RIO. Hsbc Global Res raised Rio Tinto Group to a "strong-buy" rating in a research report on Tuesday, July 23rd. Berenberg Bank raised Rio Tinto Group from a "hold" rating to a "buy" rating in a report on Wednesday, October 2nd. Royal Bank of Canada raised Rio Tinto Group to a "hold" rating in a report on Wednesday, July 31st. StockNews.com upgraded shares of Rio Tinto Group from a "buy" rating to a "strong-buy" rating in a research note on Friday, September 6th. Finally, HSBC raised shares of Rio Tinto Group from a "hold" rating to a "buy" rating in a research report on Tuesday, July 23rd. Four investment analysts have rated the stock with a hold rating, four have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company 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.