Sheaff Brock Investment Advisors LLC Purchases New Stake in Rio Tinto Group (NYSE:RIO)

Sheaff Brock Investment Advisors LLC purchased a new stake in shares of Rio Tinto Group (NYSE:RIOGet Rating) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 2,540 shares of the mining company’s stock, valued at approximately $204,000.

Several other institutional investors and hedge funds have also made changes to their positions in RIO. Professional Financial Advisors LLC acquired a new stake in shares of Rio Tinto Group during the 1st quarter valued at approximately $26,000. AdvisorNet Financial Inc raised its position in shares of Rio Tinto Group by 171.3% during the 1st quarter. AdvisorNet Financial Inc now owns 369 shares of the mining company’s stock valued at $30,000 after acquiring an additional 233 shares in the last quarter. Sageworth Trust Co of South Dakota acquired a new stake in Rio Tinto Group in the fourth quarter worth $39,000. Credit Agricole S A increased its position in Rio Tinto Group by 30.0% in the fourth quarter. Credit Agricole S A now owns 650 shares of the mining company’s stock worth $44,000 after buying an additional 150 shares during the period. Finally, Glassman Wealth Services increased its position in Rio Tinto Group by 25.9% in the first quarter. Glassman Wealth Services now owns 612 shares of the mining company’s stock worth $49,000 after buying an additional 126 shares during the period. 10.84% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. StockNews.com lowered Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a research report on Thursday, May 12th. UBS Group dropped their target price on Rio Tinto Group from GBX 4,400 ($53.91) to GBX 4,300 ($52.69) in a research report on Thursday, July 28th. Barclays lowered Rio Tinto Group from an “equal weight” rating to an “underweight” rating in a research report on Tuesday, April 26th. Credit Suisse Group reaffirmed an “outperform” rating on shares of Rio Tinto Group in a research report on Wednesday, July 6th. Finally, The Goldman Sachs Group raised Rio Tinto Group from a “neutral” rating to a “buy” rating in a research report on Monday, April 11th. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $4,086.67.

Rio Tinto Group Trading Up 2.3 %

NYSE:RIO opened at $60.69 on Friday. The business has a fifty day moving average of $63.45 and a 200-day moving average of $71.16. Rio Tinto Group has a 1 year low of $53.83 and a 1 year high of $87.07. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.79 and a quick ratio of 1.34.

Rio Tinto Group Cuts Dividend

The company also recently announced a semi-annual dividend, which will be paid on Thursday, September 22nd. Investors of record on Friday, August 12th will be paid a dividend of $2.67 per share. The ex-dividend date of this dividend is Thursday, August 11th. This represents a yield of 11.4%.

Rio Tinto Group Company Profile

(Get Rating)

Rio Tinto Group engages in exploring, mining, and processing mineral resources worldwide. The company offers aluminum, copper, diamonds, gold, borates, titanium dioxide, salt, iron ore, and lithium. It also owns and operates open pit and underground mines, mills, refineries, smelters, power stations, and research and service facilities.

Further Reading

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Institutional Ownership by Quarter for Rio Tinto Group (NYSE:RIO)

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