Sound Income Strategies LLC Purchases 173 Shares of Rio Tinto Group (NYSE:RIO)

Sound Income Strategies LLC boosted its holdings in Rio Tinto Group (NYSE:RIO) by 70.9% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 417 shares of the mining company’s stock after acquiring an additional 173 shares during the quarter. Sound Income Strategies LLC’s holdings in Rio Tinto Group were worth $30,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. GHP Investment Advisors Inc. bought a new position in shares of Rio Tinto Group during the second quarter valued at $26,000. Northwest Investment Counselors LLC purchased a new position in Rio Tinto Group in the 1st quarter worth about $26,000. Geneos Wealth Management Inc. raised its position in Rio Tinto Group by 55.4% in 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 during the last quarter. Centerpoint Advisors LLC lifted its stake in Rio Tinto Group by 110.0% during the 2nd quarter. Centerpoint Advisors LLC now owns 525 shares of the mining company’s stock valued at $35,000 after acquiring an additional 275 shares during the period. Finally, Nisa Investment Advisors LLC purchased a new stake in shares of Rio Tinto Group during the 2nd quarter valued at about $36,000. 19.33% of the stock is currently owned by hedge funds and other institutional investors.

Rio Tinto Group Stock Up 0.7 %

NYSE:RIO opened at $67.70 on Tuesday. The business’s 50-day simple moving average is $64.44 and its two-hundred day simple moving average is $66.32. 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 current ratio of 1.70 and a quick ratio of 1.16.

Rio Tinto Group Cuts Dividend

The firm also recently announced a semi-annual dividend, which was paid on Thursday, September 26th. Investors 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 of this dividend was Friday, August 16th.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on RIO shares. Berenberg Bank raised shares of Rio Tinto Group from a “hold” rating to a “buy” rating in a report on Wednesday, October 2nd. StockNews.com upgraded shares of Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a research note on Friday, September 6th. HSBC upgraded Rio Tinto Group from a “hold” rating to a “buy” rating in a research note on Tuesday, July 23rd. Hsbc Global Res upgraded Rio Tinto Group to a “strong-buy” rating in a research report on Tuesday, July 23rd. Finally, Royal Bank of Canada raised Rio Tinto Group to a “hold” rating in a report on Wednesday, July 31st. Three analysts have rated the stock with a hold rating, five have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average 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.