Macquarie reiterated their neutral rating on shares of Rio Tinto Group (NYSE:RIO – Free Report) in a research note published on Wednesday morning, Benzinga reports.
RIO has been the topic of several other research reports. 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 shares of Rio Tinto Group to a “strong-buy” rating in a research report on Tuesday, July 23rd. Berenberg Bank upgraded shares of 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 research note on Wednesday, July 31st. Finally, HSBC raised Rio Tinto Group from a “hold” rating to a “buy” rating in a research report on Tuesday, July 23rd. Four research analysts have rated the stock with a hold rating, five have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Rio Tinto Group has an average rating of “Moderate Buy”.
Rio Tinto Group Stock Up 0.4 %
Rio Tinto Group Cuts Dividend
The business also recently declared 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. This represents a dividend yield of 6.8%. The ex-dividend date was Friday, August 16th.
Institutional Trading of Rio Tinto Group
Several institutional investors and hedge funds have recently bought and sold shares of the stock. SageView Advisory Group LLC lifted its stake in shares of Rio Tinto Group by 58.8% in the 4th quarter. SageView Advisory Group LLC now owns 5,466 shares of the mining company’s stock valued at $384,000 after purchasing an additional 2,024 shares during the period. HighPoint Advisor Group LLC purchased a new position in Rio Tinto Group during the fourth quarter valued at $238,000. Mather Group LLC. bought a new stake in shares of Rio Tinto Group during the 1st quarter valued at $76,000. Walker Asset Management LLC bought a new stake in shares of Rio Tinto Group during the 1st quarter valued at $217,000. Finally, Wedmont Private Capital purchased a new stake in shares of Rio Tinto Group in the 1st quarter worth about $218,000. 19.33% of the stock is currently owned by hedge funds and other institutional investors.
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.
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