Uncommon Cents Investing LLC Grows Stock Position in Rio Tinto Group (NYSE:RIO)

Uncommon Cents Investing LLC boosted its stake in Rio Tinto Group (NYSE:RIOGet Rating) by 60.7% in the second quarter, Holdings Channel reports. The fund owned 46,165 shares of the mining company’s stock after buying an additional 17,440 shares during the quarter. Rio Tinto Group makes up about 1.1% of Uncommon Cents Investing LLC’s holdings, making the stock its 25th biggest holding. Uncommon Cents Investing LLC’s holdings in Rio Tinto Group were worth $2,816,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of RIO. Fisher Asset Management LLC boosted its stake in shares of Rio Tinto Group by 4.3% during the 1st quarter. Fisher Asset Management LLC now owns 14,128,925 shares of the mining company’s stock valued at $1,135,966,000 after buying an additional 576,266 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in shares of Rio Tinto Group by 58.9% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 12,899,694 shares of the mining company’s stock valued at $1,037,135,000 after buying an additional 4,783,488 shares during the last quarter. Capital World Investors boosted its stake in shares of Rio Tinto Group by 4.2% during the 1st quarter. Capital World Investors now owns 8,484,992 shares of the mining company’s stock valued at $682,195,000 after buying an additional 344,145 shares during the last quarter. Wellington Management Group LLP boosted its stake in shares of Rio Tinto Group by 26.9% during the 1st quarter. Wellington Management Group LLP now owns 5,475,787 shares of the mining company’s stock valued at $440,253,000 after buying an additional 1,161,737 shares during the last quarter. Finally, Neuberger Berman Group LLC boosted its stake in shares of Rio Tinto Group by 22.3% during the 1st quarter. Neuberger Berman Group LLC now owns 4,747,831 shares of the mining company’s stock valued at $381,726,000 after buying an additional 864,451 shares during the last quarter. Hedge funds and other institutional investors own 10.05% of the company’s stock.

Wall Street Analysts Forecast Growth

RIO has been the subject of several research analyst reports. Credit Suisse Group reiterated an “outperform” rating on shares of Rio Tinto Group in a research note on Wednesday, July 6th. Jefferies Financial Group raised Rio Tinto Group from a “hold” rating to a “buy” rating in a research report on Tuesday, June 7th. Berenberg Bank upped their price target on Rio Tinto Group from GBX 4,100 ($49.54) to GBX 4,300 ($51.96) in a research report on Friday, July 29th. Deutsche Bank Aktiengesellschaft dropped their price target on Rio Tinto Group from GBX 6,000 ($72.50) to GBX 5,800 ($70.08) in a research report on Wednesday, June 29th. Finally, UBS Group dropped their price target on Rio Tinto Group from GBX 4,400 ($53.17) to GBX 4,300 ($51.96) in a research report on Thursday, July 28th. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, Rio Tinto Group currently has an average rating of “Hold” and a consensus price target of $4,345.71.

Rio Tinto Group Stock Down 6.1 %

NYSE RIO traded down $3.39 during trading hours on Friday, hitting $51.96. The company had a trading volume of 316,614 shares, compared to its average volume of 3,164,329. Rio Tinto Group has a fifty-two week low of $53.21 and a fifty-two week high of $84.69. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.79 and a quick ratio of 1.34. The business has a fifty day simple moving average of $58.03 and a 200-day simple moving average of $66.62.

Rio Tinto Group Cuts Dividend

The firm also recently declared a semi-annual dividend, which was paid on Thursday, September 22nd. Stockholders of record on Friday, August 12th were paid a $2.67 dividend. The ex-dividend date of this dividend was Thursday, August 11th. This represents a dividend yield of 11.4%.

About Rio Tinto Group

(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

Want to see what other hedge funds are holding RIO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Rio Tinto Group (NYSE:RIOGet Rating).

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

Receive News & Ratings for Rio Tinto Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Rio Tinto Group and related companies with MarketBeat.com's FREE daily email newsletter.