Wright Investors Service Inc. Has $775,000 Holdings in Rio Tinto Group (NYSE:RIO)

Wright Investors Service Inc. trimmed its position in shares of Rio Tinto Group (NYSE:RIO) by 27.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,893 shares of the mining company’s stock after selling 4,080 shares during the quarter. Wright Investors Service Inc.’s holdings in Rio Tinto Group were worth $775,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the company. Davis Capital Management grew its holdings in shares of Rio Tinto Group by 14.4% during the third quarter. Davis Capital Management now owns 13,889 shares of the mining company’s stock worth $988,000 after purchasing an additional 1,749 shares during the last quarter. Sanctuary Advisors LLC acquired a new position in Rio Tinto Group during the 2nd quarter worth about $1,910,000. Teachers Retirement System of The State of Kentucky grew its holdings in Rio Tinto Group by 8.9% during the 2nd quarter. Teachers Retirement System of The State of Kentucky now owns 650,180 shares of the mining company’s stock worth $42,867,000 after acquiring an additional 53,000 shares during the last quarter. Ted Buchan & Co acquired a new stake in Rio Tinto Group in the 2nd quarter valued at about $1,161,000. Finally, EP Wealth Advisors LLC raised its stake in shares of Rio Tinto Group by 22.0% in the second quarter. EP Wealth Advisors LLC now owns 5,240 shares of the mining company’s stock worth $345,000 after acquiring an additional 945 shares during the last quarter. Institutional investors and hedge funds own 19.33% of the company’s stock.

Wall Street Analyst Weigh In

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

Rio Tinto Group Stock Down 0.2 %

Shares of NYSE:RIO traded down $0.13 during midday trading on Friday, hitting $69.70. The company had a trading volume of 2,066,070 shares, compared to its average volume of 2,731,815. The company has a quick ratio of 1.16, a current ratio of 1.70 and a debt-to-equity ratio of 0.23. Rio Tinto Group has a 12 month low of $59.35 and a 12 month high of $75.09. The firm has a fifty day simple moving average of $64.02 and a 200 day simple moving average of $66.13.

Rio Tinto Group Cuts Dividend

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

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.