Traveka Wealth LLC Decreases Position in Rio Tinto Group (NYSE:RIO)

Traveka Wealth LLC cut its stake in Rio Tinto Group (NYSE:RIO) by 26.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,867 shares of the mining company’s stock after selling 1,010 shares during the quarter. Traveka Wealth LLC’s holdings in Rio Tinto Group were worth $204,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. GHP Investment Advisors Inc. purchased a new position in Rio Tinto Group in the 2nd quarter worth approximately $26,000. Northwest Investment Counselors LLC purchased a new position in Rio Tinto Group in the 1st quarter worth approximately $26,000. Geneos Wealth Management Inc. raised 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 buying an additional 148 shares during the period. YHB Investment Advisors Inc. purchased a new stake in shares of Rio Tinto Group during the 1st quarter valued at approximately $29,000. Finally, Centerpoint Advisors LLC raised its position in shares of Rio Tinto Group by 110.0% during the 2nd quarter. Centerpoint Advisors LLC now owns 525 shares of the mining company’s stock valued at $35,000 after buying an additional 275 shares during the period. 19.33% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently commented on RIO. HSBC raised shares of Rio Tinto Group from a “hold” rating to a “buy” rating in a research report on Tuesday, July 23rd. Royal Bank of Canada raised shares of Rio Tinto Group to a “hold” rating in a research report on Wednesday, July 31st. Hsbc Global Res raised shares of Rio Tinto Group to a “strong-buy” rating in a research report on Tuesday, July 23rd. StockNews.com upgraded shares of Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a report on Friday, September 6th. Finally, Berenberg Bank upgraded shares of Rio Tinto Group from a “hold” rating to a “buy” rating in a report on Wednesday, October 2nd. Three investment analysts have rated the stock with a hold rating, five have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy”.

Rio Tinto Group Trading Down 4.5 %

Shares of NYSE:RIO traded down $3.11 during trading on Tuesday, hitting $66.51. The company’s stock had a trading volume of 2,267,207 shares, compared to its average volume of 2,727,872. The business has a 50 day moving average price of $64.12 and a two-hundred day moving average price of $66.18. 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 has a fifty-two week low of $59.35 and a fifty-two week high of $75.09.

Rio Tinto Group Cuts Dividend

The firm also recently declared a semi-annual dividend, which was paid on Thursday, September 26th. Shareholders 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 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.