Rio Tinto Group (NYSE:RIO) Stock Position Lowered by Raymond James & Associates

Raymond James & Associates lowered its position in shares of Rio Tinto Group (NYSE:RIO) by 0.8% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 424,862 shares of the mining company’s stock after selling 3,242 shares during the quarter. Raymond James & Associates’ holdings in Rio Tinto Group were worth $30,237,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. Bank of Montreal Can lifted its holdings in Rio Tinto Group by 237.0% in 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 acquiring an additional 1,738,752 shares during the last quarter. Natixis Advisors LLC lifted its stake in Rio Tinto Group by 8.7% during the second quarter. Natixis Advisors LLC now owns 695,731 shares of the mining company’s stock valued at $45,870,000 after purchasing an additional 55,967 shares during the last quarter. First City Capital Management Inc. lifted its stake in Rio Tinto Group by 118.5% during the second quarter. First City Capital Management Inc. now owns 15,178 shares of the mining company’s stock valued at $1,001,000 after purchasing an additional 8,230 shares during the last quarter. QRG Capital Management Inc. boosted its holdings in Rio Tinto Group by 38.1% during the second quarter. QRG Capital Management Inc. now owns 95,497 shares of the mining company’s stock worth $6,296,000 after buying an additional 26,329 shares in the last quarter. Finally, Capstone Investment Advisors LLC acquired a new position in Rio Tinto Group in the first quarter worth approximately $1,734,000. 19.33% of the stock is owned by institutional investors and hedge funds.

Rio Tinto Group Stock Down 1.5 %

Shares of NYSE RIO opened at $64.49 on Thursday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.16 and a current ratio of 1.70. Rio Tinto Group has a one year low of $59.35 and a one year high of $75.09. The business has a 50-day moving average price of $64.77 and a two-hundred day moving average price of $66.37.

Rio Tinto Group Cuts Dividend

The business also recently disclosed a semi-annual dividend, which was paid on Thursday, September 26th. Investors of record on Friday, August 16th were given a dividend of $1.77 per share. This represents a yield of 6.8%. The ex-dividend date of this dividend was Friday, August 16th.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on RIO shares. Berenberg Bank raised Rio Tinto Group from a “hold” rating to a “buy” rating in a research note on Wednesday, October 2nd. StockNews.com upgraded Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a research report on Friday, September 6th. HSBC upgraded Rio Tinto Group from a “hold” rating to a “buy” rating in a report on Tuesday, July 23rd. Hsbc Global Res upgraded shares of Rio Tinto Group to a “strong-buy” rating in a report on Tuesday, July 23rd. Finally, Macquarie restated a “neutral” rating on shares of Rio Tinto Group in a report on Wednesday, October 16th. Four research analysts have rated the stock with a hold rating, five have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently 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.