Guggenheim Capital LLC Increases Stock Holdings in Rio Tinto Group (NYSE:RIO)

Guggenheim Capital LLC increased its holdings in Rio Tinto Group (NYSE:RIO) by 17.2% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 31,587 shares of the mining company’s stock after acquiring an additional 4,639 shares during the quarter. Guggenheim Capital LLC’s holdings in Rio Tinto Group were worth $2,167,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Bank of New York Mellon Corp raised its holdings in Rio Tinto Group by 23.9% in the first quarter. Bank of New York Mellon Corp now owns 61,529 shares of the mining company’s stock worth $4,947,000 after purchasing an additional 11,879 shares in the last quarter. Cetera Advisor Networks LLC raised its holdings in Rio Tinto Group by 33.8% in the first quarter. Cetera Advisor Networks LLC now owns 6,549 shares of the mining company’s stock worth $527,000 after purchasing an additional 1,654 shares in the last quarter. BlackRock Inc. increased its holdings in shares of Rio Tinto Group by 19.4% during the first quarter. BlackRock Inc. now owns 1,539,846 shares of the mining company’s stock valued at $123,803,000 after acquiring an additional 250,480 shares in the last quarter. Vontobel Holding Ltd. bought a new position in shares of Rio Tinto Group during the first quarter valued at $499,000. Finally, Cetera Investment Advisers increased its holdings in shares of Rio Tinto Group by 141.7% during the first quarter. Cetera Investment Advisers now owns 13,466 shares of the mining company’s stock valued at $1,083,000 after acquiring an additional 7,894 shares in the last quarter. Hedge funds and other institutional investors own 10.03% of the company’s stock.

Rio Tinto Group Stock Up 0.7 %

RIO stock opened at $62.75 on Thursday. Rio Tinto Group has a twelve month low of $50.92 and a twelve month high of $80.51. The company has a quick ratio of 1.37, a current ratio of 1.99 and a debt-to-equity ratio of 0.25. The business’s 50-day moving average price is $63.92 and its 200-day moving average price is $65.53.

Rio Tinto Group Increases Dividend

The business also recently disclosed a semi-annual dividend, which will be paid on Thursday, September 21st. Stockholders of record on Friday, August 11th will be given a dividend of $1.77 per share. This is a boost from Rio Tinto Group’s previous semi-annual dividend of $1.10. This represents a dividend yield of 6%. The ex-dividend date is Thursday, August 10th.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on RIO shares. Citigroup upgraded Rio Tinto Group from a “neutral” rating to a “buy” rating in a report on Thursday, June 8th. StockNews.com began coverage on Rio Tinto Group in a report on Thursday, August 17th. They issued a “buy” rating for the company. Morgan Stanley upgraded Rio Tinto Group from an “equal weight” rating to an “overweight” rating in a report on Friday, May 26th. JPMorgan Chase & Co. upgraded Rio Tinto Group from an “underweight” rating to a “neutral” rating in a report on Monday, May 15th. Finally, Sanford C. Bernstein raised Rio Tinto Group from a “market perform” rating to an “outperform” rating in a research report on Friday, May 5th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $72.00.

About Rio Tinto Group

Rio Tinto Group engages in exploring, mining, and processing mineral resources worldwide. The company operates through Iron Ore, Aluminium, Copper, and Minerals Segments. It offers aluminum, copper, iron ore, diamonds, gold, borates, titanium dioxide, salt, silver, molybdenum, and lithium. The company also owns and operates open pit and underground mines, refineries, smelters, and concentrator facilities, as well as power stations, research, and service facilities.