Rio Tinto Group (NYSE:RIO) Stock Holdings Decreased by Foresight Global Investors Inc.

Foresight Global Investors Inc. lowered its position in shares of Rio Tinto Group (NYSE:RIO) by 41.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,820 shares of the mining company’s stock after selling 12,850 shares during the quarter. Foresight Global Investors Inc.’s holdings in Rio Tinto Group were worth $1,175,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in RIO. Aveo Capital Partners LLC lifted its holdings in shares of Rio Tinto Group by 6.4% in the fourth quarter. Aveo Capital Partners LLC now owns 3,692 shares of the mining company’s stock valued at $275,000 after purchasing an additional 223 shares in the last quarter. Financial Advocates Investment Management purchased a new stake in Rio Tinto Group in the 4th quarter worth about $216,000. Independent Advisor Alliance boosted its position in Rio Tinto Group by 58.7% during the 4th quarter. Independent Advisor Alliance now owns 13,928 shares of the mining company’s stock worth $1,037,000 after acquiring an additional 5,152 shares during the period. Balentine LLC grew its stake in Rio Tinto Group by 4.6% during the 4th quarter. Balentine LLC now owns 28,671 shares of the mining company’s stock valued at $2,135,000 after acquiring an additional 1,253 shares in the last quarter. Finally, Corient Private Wealth LLC increased its holdings in shares of Rio Tinto Group by 6.7% in the 4th quarter. Corient Private Wealth LLC now owns 55,552 shares of the mining company’s stock valued at $4,136,000 after purchasing an additional 3,474 shares during the period. Hedge funds and other institutional investors own 19.33% of the company’s stock.

Analyst Ratings Changes

Several research firms recently commented on RIO. Citigroup cut shares of Rio Tinto Group from a “buy” rating to a “neutral” rating in a report on Monday, May 20th. StockNews.com raised shares of Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a research note on Friday, September 6th. Berenberg Bank downgraded shares of Rio Tinto Group from a “buy” rating to a “hold” rating in a research note on Thursday, June 27th. HSBC raised Rio Tinto Group from a “hold” rating to a “buy” rating in a research report on Tuesday, July 23rd. Finally, Royal Bank of Canada raised Rio Tinto Group to a “hold” rating in a research report on Wednesday, July 31st. Five 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. According to data from MarketBeat, the stock has an average rating of “Moderate Buy”.

Rio Tinto Group Stock Performance

Shares of RIO opened at $63.19 on Tuesday. The company’s fifty day moving average is $63.43 and its 200-day moving average is $65.70. 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 12 month low of $59.35 and a 12 month high of $75.09.

Rio Tinto Group Cuts Dividend

The business also recently disclosed a semi-annual dividend, which will be paid on Thursday, September 26th. Investors of record on Friday, August 16th will be paid a $1.77 dividend. This represents a dividend yield of 6.8%. The ex-dividend date of this dividend is Friday, August 16th.

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.