Rio Tinto Group (NYSE:RIO) Shares Purchased by Viking Fund Management LLC

Viking Fund Management LLC boosted its stake in shares of Rio Tinto Group (NYSE:RIO) by 385.7% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 3,400 shares of the mining company’s stock after acquiring an additional 2,700 shares during the period. Viking Fund Management LLC’s holdings in Rio Tinto Group were worth $242,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the stock. Sound Income Strategies LLC boosted its stake in shares of Rio Tinto Group by 70.9% in the third quarter. Sound Income Strategies LLC now owns 417 shares of the mining company’s stock worth $30,000 after acquiring an additional 173 shares during the last quarter. Gilman Hill Asset Management LLC boosted its stake in Rio Tinto Group by 9.1% during the 3rd quarter. Gilman Hill Asset Management LLC now owns 66,627 shares of the mining company’s stock worth $4,742,000 after purchasing an additional 5,560 shares during the last quarter. Fiduciary Financial Group LLC grew its holdings in shares of Rio Tinto Group by 3.7% during the third quarter. Fiduciary Financial Group LLC now owns 4,945 shares of the mining company’s stock worth $330,000 after buying an additional 178 shares in the last quarter. San Luis Wealth Advisors LLC raised its position in shares of Rio Tinto Group by 132.3% in the third quarter. San Luis Wealth Advisors LLC now owns 10,579 shares of the mining company’s stock valued at $753,000 after buying an additional 6,025 shares during the last quarter. Finally, Advocate Group LLC lifted its stake in shares of Rio Tinto Group by 17.1% in the third quarter. Advocate Group LLC now owns 45,623 shares of the mining company’s stock worth $3,247,000 after buying an additional 6,667 shares in the last quarter. Institutional investors and hedge funds own 19.33% of the company’s stock.

Rio Tinto Group Trading Up 0.6 %

Shares of NYSE RIO traded up $0.39 during mid-day trading on Friday, reaching $67.23. 3,490,044 shares of the company’s stock were exchanged, compared to its average volume of 2,759,185. The company’s 50-day moving average is $64.35 and its 200-day moving average is $66.27. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.16 and a current ratio of 1.70. 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 business also recently announced a semi-annual dividend, which was paid on Thursday, September 26th. Shareholders of record on Friday, August 16th were paid a dividend of $1.77 per share. This represents a yield of 6.8%. The ex-dividend date was Friday, August 16th.

Analysts Set New Price Targets

A number of analysts have commented on the stock. StockNews.com upgraded shares of Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a report on Friday, September 6th. Hsbc Global Res upgraded 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 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. Finally, Berenberg Bank raised shares of Rio Tinto Group from a “hold” rating to a “buy” rating in a report on Wednesday, October 2nd. Three analysts have rated the stock with a hold rating, five have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, Rio Tinto Group has a consensus rating of “Moderate Buy”.

Rio Tinto Group Company 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.