Rio Tinto Group (NYSE:RIO) Stock Position Lowered by Epoch Investment Partners Inc.

Epoch Investment Partners Inc. lowered its position in shares of Rio Tinto Group (NYSE:RIO) by 98.1% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,343 shares of the mining company’s stock after selling 176,326 shares during the quarter. Epoch Investment Partners Inc.’s holdings in Rio Tinto Group were worth $220,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of RIO. GHP Investment Advisors Inc. bought a new position in shares of Rio Tinto Group during the 2nd quarter valued at about $26,000. Northwest Investment Counselors LLC bought a new stake in Rio Tinto Group during the first quarter worth approximately $26,000. Geneos Wealth Management Inc. grew its position in Rio Tinto Group by 55.4% in the first quarter. Geneos Wealth Management Inc. now owns 415 shares of the mining company’s stock worth $26,000 after buying an additional 148 shares during the last quarter. YHB Investment Advisors Inc. bought a new position in shares of Rio Tinto Group in the first quarter valued at $29,000. Finally, LifeSteps Financial Inc. acquired a new stake in shares of Rio Tinto Group during the 1st quarter valued at $33,000. 19.33% of the stock is owned by institutional investors and hedge funds.

Rio Tinto Group Price Performance

NYSE RIO opened at $67.43 on Wednesday. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.70 and a quick ratio of 1.16. The company has a 50 day simple moving average of $63.06 and a 200-day simple moving average of $65.71. Rio Tinto Group has a 52-week low of $59.35 and a 52-week high of $75.09.

Rio Tinto Group Cuts Dividend

The business also recently announced a semi-annual dividend, which will be paid on Thursday, September 26th. Shareholders of record on Friday, August 16th will be given a $1.77 dividend. The ex-dividend date of this dividend is Friday, August 16th. This represents a yield of 6.8%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on RIO. HSBC raised Rio Tinto Group from a “hold” rating to a “buy” rating in a research report on Tuesday, July 23rd. Hsbc Global Res upgraded Rio Tinto Group to a “strong-buy” rating in a report on Tuesday, July 23rd. StockNews.com upgraded shares of Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a report on Friday, September 6th. Royal Bank of Canada upgraded shares of Rio Tinto Group to a “hold” rating in a report on Wednesday, July 31st. Finally, Berenberg Bank lowered shares of Rio Tinto Group from a “buy” rating to a “hold” rating in a research note on Thursday, June 27th. Five investment analysts have rated the stock with a hold rating, four have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently 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.