Rio Tinto Group (NYSE:RIO) Shares Sold by Raymond James & Associates

Raymond James & Associates decreased its position in Rio Tinto Group (NYSE:RIO) by 0.8% in the 3rd quarter, according to the company in its most recent filing with the Securities and 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 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in RIO. Bank of Montreal Can boosted its holdings in Rio Tinto Group by 237.0% in the second quarter. Bank of Montreal Can now owns 2,472,471 shares of the mining company’s stock worth $164,493,000 after purchasing an additional 1,738,752 shares during the period. Earnest Partners LLC boosted its holdings in shares of Rio Tinto Group by 1.4% in the 1st quarter. Earnest Partners LLC now owns 1,395,961 shares of the mining company’s stock valued at $88,979,000 after buying an additional 19,334 shares during the period. National Bank of Canada FI grew its position in shares of Rio Tinto Group by 296.2% during the 1st quarter. National Bank of Canada FI now owns 1,022,765 shares of the mining company’s stock valued at $71,382,000 after buying an additional 764,635 shares during the last quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH raised its stake in Rio Tinto Group by 22.7% during the first quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 978,859 shares of the mining company’s stock worth $62,392,000 after acquiring an additional 180,874 shares during the period. Finally, Dimensional Fund Advisors LP lifted its holdings in Rio Tinto Group by 78.3% in the second quarter. Dimensional Fund Advisors LP now owns 858,050 shares of the mining company’s stock worth $56,565,000 after acquiring an additional 376,778 shares during the last quarter. 19.33% of the stock is currently owned by institutional investors.

Rio Tinto Group Stock Down 1.5 %

Shares of NYSE RIO opened at $64.49 on Thursday. The firm’s 50-day simple moving average is $64.77 and its 200 day simple moving average is $66.37. Rio Tinto Group has a fifty-two week low of $59.35 and a fifty-two week high of $75.09. 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 Cuts Dividend

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

Analysts Set New Price Targets

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