Total Clarity Wealth Management Inc. Acquires Shares of 3,092 Rio Tinto Group (NYSE:RIO)

Total Clarity Wealth Management Inc. bought a new position in shares of Rio Tinto Group (NYSE:RIO) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 3,092 shares of the mining company’s stock, valued at approximately $204,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. GHP Investment Advisors Inc. acquired a new position in Rio Tinto Group during the 2nd quarter worth about $26,000. Northwest Investment Counselors LLC acquired a new position in shares of Rio Tinto Group during the first quarter worth approximately $26,000. Geneos Wealth Management Inc. lifted its holdings in Rio Tinto Group by 55.4% during the 1st quarter. Geneos Wealth Management Inc. now owns 415 shares of the mining company’s stock worth $26,000 after buying an additional 148 shares in the last quarter. YHB Investment Advisors Inc. acquired a new position in Rio Tinto Group during the 1st quarter worth $29,000. Finally, LifeSteps Financial Inc. bought a new position in Rio Tinto Group in the 1st quarter valued at $33,000. 19.33% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

RIO has been the topic of several research reports. Citigroup lowered Rio Tinto Group from a “buy” rating to a “neutral” rating in a research note on Monday, May 20th. HSBC upgraded shares of Rio Tinto Group from a “hold” rating to a “buy” rating in a research report on Tuesday, July 23rd. StockNews.com raised shares of Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a research note on Friday, September 6th. Hsbc Global Res raised shares of Rio Tinto Group to a “strong-buy” rating in a research note on Tuesday, July 23rd. Finally, Berenberg Bank cut shares of Rio Tinto Group from a “buy” rating to a “hold” rating in a research report on Thursday, June 27th. Five research analysts have rated the stock with a hold rating, four have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy”.

Rio Tinto Group Stock Performance

Shares of NYSE RIO opened at $63.19 on Tuesday. Rio Tinto Group has a 52-week low of $59.35 and a 52-week high of $75.09. 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 firm has a 50 day moving average price of $63.43 and a 200 day moving average price of $65.70.

Rio Tinto Group Cuts Dividend

The company also recently declared a semi-annual dividend, which will be paid on Thursday, September 26th. Stockholders of record on Friday, August 16th will be issued a $1.77 dividend. 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.