Fiduciary Financial Group LLC Makes New Investment in Rio Tinto Group (NYSE:RIO)

Fiduciary Financial Group LLC bought a new position in Rio Tinto Group (NYSE:RIO) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 4,767 shares of the mining company’s stock, valued at approximately $316,000.

A number of other hedge funds have also made changes to their positions in RIO. Northwest Investment Counselors LLC purchased a new stake in shares of Rio Tinto Group in the first quarter worth approximately $26,000. Geneos Wealth Management Inc. lifted 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 worth $26,000 after purchasing an additional 148 shares in the last quarter. YHB Investment Advisors Inc. purchased a new stake in shares of Rio Tinto Group in the first quarter worth approximately $29,000. Accordant Advisory Group Inc purchased a new stake in shares of Rio Tinto Group in the first quarter worth approximately $31,000. Finally, LifeSteps Financial Inc. purchased a new stake in shares of Rio Tinto Group in the first quarter worth approximately $33,000. 19.33% of the stock is owned by hedge funds and other institutional investors.

Rio Tinto Group Price Performance

Shares of Rio Tinto Group stock opened at $61.30 on Friday. The firm has a fifty day simple moving average of $65.41 and a 200-day simple moving average of $66.48. 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 1-year low of $58.89 and a 1-year 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. Stockholders of record on Friday, August 16th will be paid a $1.77 dividend. This represents a dividend yield of 6.8%. The ex-dividend date is Friday, August 16th.

Analyst Upgrades and Downgrades

RIO has been the subject of a number of research analyst reports. Royal Bank of Canada raised shares of Rio Tinto Group to a “hold” rating in a research report on Wednesday, July 31st. Berenberg Bank lowered shares of Rio Tinto Group from a “buy” rating to a “hold” rating in a research report on Thursday, June 27th. Citigroup lowered shares of Rio Tinto Group from a “buy” rating to a “neutral” rating in a research report on Monday, May 20th. StockNews.com raised shares of Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, May 21st. Finally, Hsbc Global Res raised shares of Rio Tinto Group to a “strong-buy” rating in a research report on Tuesday, July 23rd. Five research analysts have rated the stock with a hold rating, five have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock 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.