Rio Tinto Group (NYSE:RIO) Stock Holdings Lifted by Gilman Hill Asset Management LLC

Gilman Hill Asset Management LLC lifted its stake in shares of Rio Tinto Group (NYSE:RIOGet Rating) by 5.1% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 54,100 shares of the mining company’s stock after acquiring an additional 2,635 shares during the quarter. Gilman Hill Asset Management LLC’s holdings in Rio Tinto Group were worth $3,300,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in the business. Eagle Asset Management Inc. raised its holdings in shares of Rio Tinto Group by 2.7% in the 4th quarter. Eagle Asset Management Inc. now owns 8,070 shares of the mining company’s stock worth $538,000 after buying an additional 211 shares in the last quarter. Schroder Investment Management Group bought a new position in shares of Rio Tinto Group in the 4th quarter worth $298,000. Hilltop Holdings Inc. acquired a new stake in Rio Tinto Group during the 4th quarter worth $233,000. Kayne Anderson Rudnick Investment Management LLC raised its stake in Rio Tinto Group by 30.4% during the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 9,523 shares of the mining company’s stock worth $637,000 after buying an additional 2,221 shares during the period. Finally, Rockefeller Capital Management L.P. raised its stake in shares of Rio Tinto Group by 5.9% in the 4th quarter. Rockefeller Capital Management L.P. now owns 11,520 shares of the mining company’s stock valued at $770,000 after purchasing an additional 637 shares during the period. Institutional investors and hedge funds own 10.05% of the company’s stock.

Analysts Set New Price Targets

RIO has been the topic of several recent research reports. Credit Suisse Group reissued an “outperform” rating on shares of Rio Tinto Group in a research note on Wednesday, July 6th. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Rio Tinto Group from GBX 6,000 ($72.50) to GBX 5,800 ($70.08) in a research report on Wednesday, June 29th. Royal Bank of Canada lowered their price objective on shares of Rio Tinto Group from GBX 4,900 ($59.21) to GBX 4,700 ($56.79) in a research report on Thursday, July 28th. Berenberg Bank boosted their target price on shares of Rio Tinto Group from GBX 4,100 ($49.54) to GBX 4,300 ($51.96) in a research note on Friday, July 29th. Finally, Jefferies Financial Group raised shares of Rio Tinto Group from a “hold” rating to a “buy” rating in a research report on Tuesday, June 7th. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $4,345.71.

Rio Tinto Group Trading Down 6.2 %

Rio Tinto Group stock traded down $3.45 during trading hours on Friday, reaching $51.90. The stock had a trading volume of 212,103 shares, compared to its average volume of 3,164,329. Rio Tinto Group has a 52 week low of $53.21 and a 52 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 company 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 business also recently announced a semi-annual dividend, which was paid on Thursday, September 22nd. Stockholders of record on Friday, August 12th were paid a dividend of $2.67 per share. This represents a dividend yield of 11.4%. The ex-dividend date of this dividend was Thursday, August 11th.

About Rio Tinto Group

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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.

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

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