Rio Tinto Group (NYSE:RIO) Shares Sold by Truist Financial Corp

Truist Financial Corp reduced its holdings in Rio Tinto Group (NYSE:RIO) by 0.8% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 144,846 shares of the mining company’s stock after selling 1,195 shares during the quarter. Truist Financial Corp’s holdings in Rio Tinto Group were worth $9,550,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Russell Investments Group Ltd. lifted its holdings in Rio Tinto Group by 0.4% in the first quarter. Russell Investments Group Ltd. now owns 39,964 shares of the mining company’s stock valued at $2,547,000 after acquiring an additional 147 shares during the period. Geneos Wealth Management Inc. increased its holdings in shares of Rio Tinto Group by 55.4% in the 1st quarter. Geneos Wealth Management Inc. now owns 415 shares of the mining company’s stock valued at $26,000 after purchasing an additional 148 shares in the last quarter. Optas LLC lifted its stake in shares of Rio Tinto Group by 4.2% in the first quarter. Optas LLC now owns 3,833 shares of the mining company’s stock valued at $244,000 after purchasing an additional 154 shares during the period. Eagle Bluffs Wealth Management LLC boosted its holdings in Rio Tinto Group by 1.1% during the second quarter. Eagle Bluffs Wealth Management LLC now owns 14,997 shares of the mining company’s stock worth $989,000 after buying an additional 163 shares in the last quarter. Finally, Bessemer Group Inc. grew its position in Rio Tinto Group by 2.4% during the first quarter. Bessemer Group Inc. now owns 7,304 shares of the mining company’s stock worth $465,000 after buying an additional 169 shares during the period. 19.33% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Rio Tinto Group Stock Performance

Rio Tinto Group stock opened at $69.70 on Friday. Rio Tinto Group has a fifty-two week low of $59.35 and a fifty-two week high of $75.09. The stock has a fifty day moving average of $64.02 and a two-hundred day moving average of $66.13. 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 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 paid a dividend of $1.77 per share. This represents a dividend yield of 6.8%. The ex-dividend date was Friday, August 16th.

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.