Courier Capital LLC Acquires 219 Shares of Rio Tinto Group (NYSE:RIO)

Courier Capital LLC raised its position in shares of Rio Tinto Group (NYSE:RIO) by 1.5% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 14,416 shares of the mining company’s stock after purchasing an additional 219 shares during the quarter. Courier Capital LLC’s holdings in Rio Tinto Group were worth $1,026,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. Bank of Montreal Can grew its stake in shares of Rio Tinto Group by 237.0% during the 2nd quarter. Bank of Montreal Can now owns 2,472,471 shares of the mining company’s stock valued at $164,493,000 after purchasing an additional 1,738,752 shares during the period. Earnest Partners LLC grew its stake in shares of Rio Tinto Group by 1.4% during the 1st quarter. Earnest Partners LLC now owns 1,395,961 shares of the mining company’s stock valued at $88,979,000 after purchasing an additional 19,334 shares during the period. National Bank of Canada FI grew its stake in shares of Rio Tinto Group by 296.2% during the 1st quarter. National Bank of Canada FI now owns 1,022,765 shares of the mining company’s stock valued at $71,382,000 after purchasing an additional 764,635 shares during the period. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH grew its stake in shares of Rio Tinto Group by 22.7% during the 1st quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 978,859 shares of the mining company’s stock valued at $62,392,000 after purchasing an additional 180,874 shares during the period. Finally, Dimensional Fund Advisors LP grew its stake in shares of Rio Tinto Group by 78.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 858,050 shares of the mining company’s stock valued at $56,565,000 after purchasing an additional 376,778 shares during the period. 19.33% of the stock is currently owned by institutional investors.

Rio Tinto Group Price Performance

NYSE RIO opened at $64.49 on Thursday. The stock’s 50 day moving average is $64.77 and its 200 day moving average is $66.37. 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 has a 12 month low of $59.35 and a 12 month high of $75.09.

Rio Tinto Group Cuts Dividend

The company also recently disclosed a semi-annual dividend, which was paid on Thursday, September 26th. Shareholders 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.

Analysts Set New Price Targets

RIO has been the subject of a number of recent research reports. Royal Bank of Canada upgraded Rio Tinto Group to a “hold” rating in a research note on Wednesday, July 31st. Berenberg Bank raised Rio Tinto Group from a “hold” rating to a “buy” rating in a research report on Wednesday, October 2nd. StockNews.com raised Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a research report on Friday, September 6th. HSBC raised Rio Tinto Group from a “hold” rating to a “buy” rating in a research report on Tuesday, July 23rd. Finally, Hsbc Global Res raised Rio Tinto Group to a “strong-buy” rating in a report on Tuesday, July 23rd. Four investment analysts have rated the stock with a hold rating, five have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average 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.