Rio Tinto Group (NYSE:RIO) Shares Sold by Royal Fund Management LLC

Royal Fund Management LLC trimmed its stake in shares of Rio Tinto Group (NYSE:RIO) by 22.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,272 shares of the mining company’s stock after selling 6,603 shares during the quarter. Royal Fund Management LLC’s holdings in Rio Tinto Group were worth $1,659,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Russell Investments Group Ltd. grew its position in shares of Rio Tinto Group by 0.4% during the first quarter. Russell Investments Group Ltd. now owns 39,964 shares of the mining company’s stock worth $2,547,000 after buying an additional 147 shares in the last quarter. Geneos Wealth Management Inc. grew its holdings in Rio Tinto Group by 55.4% during the 1st quarter. Geneos Wealth Management Inc. now owns 415 shares of the mining company’s stock worth $26,000 after acquiring an additional 148 shares in the last quarter. Optas LLC increased its position in shares of Rio Tinto Group by 4.2% in the 1st 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 last quarter. Eagle Bluffs Wealth Management LLC raised its holdings in shares of Rio Tinto Group by 1.1% in the 2nd quarter. Eagle Bluffs Wealth Management LLC now owns 14,997 shares of the mining company’s stock valued at $989,000 after purchasing an additional 163 shares in the last quarter. Finally, Bessemer Group Inc. lifted its position in shares of Rio Tinto Group by 2.4% during the 1st quarter. Bessemer Group Inc. now owns 7,304 shares of the mining company’s stock worth $465,000 after purchasing an additional 169 shares during the last quarter. Hedge funds and other institutional investors own 19.33% of the company’s stock.

Rio Tinto Group Stock Performance

RIO traded down $0.95 during trading on Wednesday, hitting $65.71. 254,001 shares of the stock were exchanged, compared to its average volume of 2,732,476. The firm has a market capitalization of $82.31 billion, a P/E ratio of 9.52, a PEG ratio of 0.42 and a beta of 0.66. Rio Tinto Group has a 1-year low of $59.35 and a 1-year high of $75.09. The stock has a fifty day moving average price of $64.18 and a two-hundred day moving average price of $66.21. 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 Cuts Dividend

The firm also recently declared 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 yield of 6.8%. The ex-dividend date of this dividend was Friday, August 16th. Rio Tinto Group’s dividend payout ratio is currently 50.43%.

Analyst Ratings Changes

A number of research firms have weighed in on RIO. Berenberg Bank upgraded Rio Tinto Group from a “hold” rating to a “buy” rating in a research note on Wednesday, October 2nd. HSBC raised Rio Tinto Group from a “hold” rating to a “buy” rating in a research report on Tuesday, July 23rd. StockNews.com raised Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a report on Friday, September 6th. Hsbc Global Res raised shares of Rio Tinto Group to a “strong-buy” rating in a report on Tuesday, July 23rd. Finally, Royal Bank of Canada upgraded shares of Rio Tinto Group to a “hold” rating in a report on Wednesday, July 31st. Three investment 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, Rio Tinto Group presently has a consensus rating of “Moderate Buy”.

About Rio Tinto Group

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.