X Square Capital LLC Raises Holdings in Rio Tinto Group (NYSE:RIO)

X Square Capital LLC grew its position in shares of Rio Tinto Group (NYSE:RIO) by 12.2% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 8,368 shares of the mining company’s stock after buying an additional 911 shares during the quarter. X Square Capital LLC’s holdings in Rio Tinto Group were worth $596,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Russell Investments Group Ltd. grew its holdings in shares of Rio Tinto Group by 0.4% during the first quarter. Russell Investments Group Ltd. now owns 39,964 shares of the mining company’s stock worth $2,547,000 after buying an additional 147 shares during the last quarter. Geneos Wealth Management Inc. grew its holdings in shares of Rio Tinto Group by 55.4% during the first quarter. Geneos Wealth Management Inc. now owns 415 shares of the mining company’s stock worth $26,000 after buying an additional 148 shares during the last quarter. Optas LLC grew its holdings in shares of Rio Tinto Group by 4.2% during the first quarter. Optas LLC now owns 3,833 shares of the mining company’s stock worth $244,000 after buying an additional 154 shares during the last quarter. Armstrong Advisory Group Inc. grew its holdings in shares of Rio Tinto Group by 9.6% during the third quarter. Armstrong Advisory Group Inc. now owns 1,808 shares of the mining company’s stock worth $129,000 after buying an additional 159 shares during the last quarter. Finally, Eagle Bluffs Wealth Management LLC grew its holdings in shares of Rio Tinto Group by 1.1% during the second quarter. Eagle Bluffs Wealth Management LLC now owns 14,997 shares of the mining company’s stock worth $989,000 after buying an additional 163 shares during the last quarter. Hedge funds and other institutional investors own 19.33% of the company’s stock.

Rio Tinto Group Stock Performance

RIO stock opened at $64.49 on Thursday. Rio Tinto Group has a 1 year low of $59.35 and a 1 year high of $75.09. The company has a quick ratio of 1.16, a current ratio of 1.70 and a debt-to-equity ratio of 0.23. The stock’s 50 day moving average price is $64.77 and its 200 day moving average price is $66.37.

Rio Tinto Group Cuts Dividend

The business also recently announced a semi-annual dividend, which was paid on Thursday, September 26th. Investors of record on Friday, August 16th were paid a $1.77 dividend. This represents a yield of 6.8%. The ex-dividend date of this dividend was Friday, August 16th.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. HSBC raised Rio Tinto Group from a “hold” rating to a “buy” rating in a report on Tuesday, July 23rd. Hsbc Global Res upgraded shares of Rio Tinto Group to a “strong-buy” rating in a research report on Tuesday, July 23rd. Macquarie restated a “neutral” rating on shares of Rio Tinto Group in a research report on Wednesday, October 16th. Berenberg Bank upgraded shares of Rio Tinto Group from a “hold” rating to a “buy” rating in a research report on Wednesday, October 2nd. Finally, Royal Bank of Canada upgraded shares of Rio Tinto Group to a “hold” rating in a research report on Wednesday, July 31st. Four investment analysts have rated the stock with a hold rating, five have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy”.

Rio Tinto Group 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.