Quantbot Technologies LP Buys 21,916 Shares of Rio Tinto Group (NYSE:RIO)

Quantbot Technologies LP boosted its stake in shares of Rio Tinto Group (NYSE:RIO) by 73.6% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 51,679 shares of the mining company’s stock after purchasing an additional 21,916 shares during the quarter. Quantbot Technologies LP’s holdings in Rio Tinto Group were worth $3,407,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in RIO. Russell Investments Group Ltd. boosted its position in shares of Rio Tinto Group by 0.4% in the first quarter. Russell Investments Group Ltd. now owns 39,964 shares of the mining company’s stock valued at $2,547,000 after acquiring an additional 147 shares during the period. Geneos Wealth Management Inc. boosted its position in shares of Rio Tinto Group by 55.4% in 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 boosted its position in shares of Rio Tinto Group by 8.5% in the fourth 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 during the period. Optas LLC boosted its position in shares of Rio Tinto Group by 4.2% in the first quarter. Optas LLC now owns 3,833 shares of the mining company’s stock valued at $244,000 after acquiring an additional 154 shares during the period. Finally, Eagle Bluffs Wealth Management LLC boosted its position in shares of Rio Tinto Group by 1.1% in the second 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 during the period. Institutional investors own 19.33% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Hsbc Global Res raised Rio Tinto Group to a “strong-buy” rating in a research report on Tuesday, July 23rd. Citigroup lowered Rio Tinto Group from a “buy” rating to a “neutral” rating in a research note on Monday, May 20th. HSBC upgraded Rio Tinto Group from a “hold” rating to a “buy” rating in a research note on Tuesday, July 23rd. Royal Bank of Canada upgraded Rio Tinto Group to a “hold” rating in a research note on Wednesday, July 31st. Finally, StockNews.com upgraded Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a research note on Friday, September 6th. Five analysts have rated the stock with a hold rating, four have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Rio Tinto Group has an average rating of “Moderate Buy”.

Rio Tinto Group Price Performance

Rio Tinto Group stock opened at $63.19 on Tuesday. 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 moving average price of $63.43 and a two-hundred day moving average price of $65.70. Rio Tinto Group has a 52-week low of $59.35 and a 52-week high of $75.09.

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.

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.