Anchor Investment Management LLC Sells 2,500 Shares of Rio Tinto Group (NYSE:RIO)

Anchor Investment Management LLC trimmed its position in shares of Rio Tinto Group (NYSE:RIO) by 30.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,700 shares of the mining company’s stock after selling 2,500 shares during the quarter. Anchor Investment Management LLC’s holdings in Rio Tinto Group were worth $376,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Bank of Montreal Can lifted its position in Rio Tinto Group by 237.0% in the 2nd quarter. Bank of Montreal Can now owns 2,472,471 shares of the mining company’s stock valued at $164,493,000 after acquiring an additional 1,738,752 shares in the last quarter. Wellington Management Group LLP lifted its position in Rio Tinto Group by 7.1% in the 4th quarter. Wellington Management Group LLP now owns 24,838,524 shares of the mining company’s stock valued at $1,849,476,000 after acquiring an additional 1,644,751 shares in the last quarter. National Bank of Canada FI lifted its position in Rio Tinto Group by 296.2% in 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 acquiring an additional 764,635 shares in the last quarter. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund bought a new stake in Rio Tinto Group in the 2nd quarter valued at $48,129,000. Finally, Fisher Asset Management LLC lifted its position in Rio Tinto Group by 2.9% in the 4th quarter. Fisher Asset Management LLC now owns 16,019,748 shares of the mining company’s stock valued at $1,192,830,000 after acquiring an additional 449,536 shares in the last quarter. 19.33% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have issued reports on RIO shares. Hsbc Global Res upgraded shares of Rio Tinto Group to a “strong-buy” rating in a research note on Tuesday, July 23rd. Royal Bank of Canada upgraded shares of Rio Tinto Group to a “hold” rating in a research note on Wednesday, July 31st. StockNews.com upgraded shares of Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a research note on Friday, September 6th. Berenberg Bank upgraded shares of Rio Tinto Group from a “hold” rating to a “buy” rating in a research note on Wednesday. Finally, HSBC upgraded shares of Rio Tinto Group from a “hold” rating to a “buy” rating in a research note on Tuesday, July 23rd. Four 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 MarketBeat.com, the stock currently has an average rating of “Moderate Buy”.

Rio Tinto Group Stock Down 0.2 %

Rio Tinto Group stock opened at $69.70 on Friday. The company’s 50-day moving average is $64.02 and its 200-day moving average is $66.11. 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. Investors of record on Friday, August 16th were paid a $1.77 dividend. The ex-dividend date of this dividend was Friday, August 16th. This represents a yield of 6.8%.

Rio Tinto Group Company 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.