Mayflower Financial Advisors LLC Purchases 531 Shares of Rio Tinto Group (NYSE:RIO)

Mayflower Financial Advisors LLC lifted its position in Rio Tinto Group (NYSE:RIOGet Rating) by 4.6% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 12,104 shares of the mining company’s stock after purchasing an additional 531 shares during the quarter. Mayflower Financial Advisors LLC’s holdings in Rio Tinto Group were worth $738,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Professional Financial Advisors LLC bought a new stake in shares of Rio Tinto Group in the 1st quarter worth about $26,000. AdvisorNet Financial Inc lifted its position in Rio Tinto Group by 171.3% during the 1st quarter. AdvisorNet Financial Inc now owns 369 shares of the mining company’s stock worth $30,000 after buying an additional 233 shares in the last quarter. Fortitude Advisory Group L.L.C. lifted its position in Rio Tinto Group by 263.4% during the 1st quarter. Fortitude Advisory Group L.L.C. now owns 585 shares of the mining company’s stock worth $41,000 after buying an additional 424 shares in the last quarter. Tcwp LLC acquired a new position in Rio Tinto Group during the 1st quarter worth about $49,000. Finally, Glassman Wealth Services lifted its position in Rio Tinto Group by 25.9% during the 1st quarter. Glassman Wealth Services now owns 612 shares of the mining company’s stock worth $49,000 after buying an additional 126 shares in the last quarter. Institutional investors own 10.05% of the company’s stock.

Rio Tinto Group Price Performance

Shares of RIO stock traded down $3.19 on Friday, reaching $52.16. The company had a trading volume of 8,998,063 shares, compared to its average volume of 4,062,536. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.34 and a current ratio of 1.79. The company has a 50-day moving average of $58.03 and a 200-day moving average of $66.62. Rio Tinto Group has a 12 month low of $51.47 and a 12 month high of $84.69.

Rio Tinto Group Cuts Dividend

The business 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 was Thursday, August 11th. This represents a dividend yield of 11.4%.

Analyst Upgrades and Downgrades

RIO has been the topic of several research reports. Berenberg Bank upped their price target on shares of Rio Tinto Group from GBX 4,100 ($49.54) to GBX 4,300 ($51.96) in a research report on Friday, July 29th. JPMorgan Chase & Co. upped their price target on shares of Rio Tinto Group from GBX 5,300 ($64.04) to GBX 5,350 ($64.64) in a research report on Thursday, July 28th. Macquarie downgraded shares of Rio Tinto Group from an “outperform” rating to a “neutral” rating in a research report on Tuesday, August 23rd. Jefferies Financial Group upgraded shares of Rio Tinto Group from a “hold” rating to a “buy” rating in a research report on Tuesday, June 7th. Finally, Deutsche Bank Aktiengesellschaft cut their target price 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. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $4,345.71.

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.

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

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