SPX Gestao de Recursos Ltda Sells 352,391 Shares of Rio Tinto Group (NYSE:RIO)

SPX Gestao de Recursos Ltda reduced its holdings in Rio Tinto Group (NYSE:RIO) by 93.9% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 22,791 shares of the mining company’s stock after selling 352,391 shares during the quarter. SPX Gestao de Recursos Ltda’s holdings in Rio Tinto Group were worth $1,503,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of the company. Russell Investments Group Ltd. increased its position in shares of Rio Tinto Group by 0.4% during the 1st quarter. Russell Investments Group Ltd. now owns 39,964 shares of the mining company’s stock valued at $2,547,000 after purchasing an additional 147 shares during the last quarter. Geneos Wealth Management Inc. increased its position in shares of Rio Tinto Group by 55.4% during 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 during the last quarter. Optas LLC increased its position in shares of Rio Tinto Group by 4.2% during 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 increased its position in shares of Rio Tinto Group by 1.1% during 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 during the last quarter. Finally, Bessemer Group Inc. increased 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 valued at $465,000 after purchasing an additional 169 shares during the last quarter. 19.33% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Royal Bank of Canada upgraded Rio Tinto Group to a “hold” rating in a research report on Wednesday, July 31st. Berenberg Bank lowered Rio Tinto Group from a “buy” rating to a “hold” rating in a research report on Thursday, June 27th. StockNews.com upgraded Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a research report on Friday, September 6th. HSBC upgraded Rio Tinto Group from a “hold” rating to a “buy” rating in a research report on Tuesday, July 23rd. Finally, Hsbc Global Res upgraded Rio Tinto Group to a “strong-buy” rating in a research report on Tuesday, July 23rd. Five equities research analysts have rated the stock with a hold rating, four have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy”.

Rio Tinto Group Trading Down 0.1 %

NYSE RIO opened at $71.17 on Tuesday. 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. The stock has a 50 day simple moving average of $63.52 and a two-hundred day simple moving average of $65.93. The stock has a market cap of $89.14 billion, a P/E ratio of 10.18, a price-to-earnings-growth ratio of 0.39 and a beta of 0.66.

Rio Tinto Group Cuts Dividend

The company also recently announced 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. Rio Tinto Group’s payout ratio is presently 50.50%.

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.