Headlands Technologies LLC Lowers Stake in Rio Tinto Group (NYSE:RIO)

Headlands Technologies LLC lowered its stake in shares of Rio Tinto Group (NYSE:RIO) by 81.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 13,886 shares of the mining company’s stock after selling 59,718 shares during the period. Headlands Technologies LLC’s holdings in Rio Tinto Group were worth $916,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Northwest Investment Counselors LLC acquired a new position in shares of Rio Tinto Group during the first quarter worth $26,000. Geneos Wealth Management Inc. increased its position in shares of Rio Tinto Group by 55.4% during the first quarter. Geneos Wealth Management Inc. now owns 415 shares of the mining company’s stock worth $26,000 after purchasing an additional 148 shares in the last quarter. YHB Investment Advisors Inc. acquired a new position in shares of Rio Tinto Group during the first quarter worth $29,000. LifeSteps Financial Inc. acquired a new position in shares of Rio Tinto Group during the first quarter worth $33,000. Finally, Centerpoint Advisors LLC increased its position in shares of Rio Tinto Group by 110.0% during the second quarter. Centerpoint Advisors LLC now owns 525 shares of the mining company’s stock worth $35,000 after purchasing an additional 275 shares in the last quarter. Hedge funds and other institutional investors own 19.33% of the company’s stock.

Rio Tinto Group Price Performance

NYSE:RIO opened at $61.21 on Thursday. Rio Tinto Group has a one year low of $59.35 and a one year high of $75.09. The company has a quick ratio of 1.16, a current ratio of 1.70 and a debt-to-equity ratio of 0.23. The firm’s fifty day moving average is $63.73 and its two-hundred day moving average is $65.74.

Rio Tinto Group Cuts Dividend

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

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Citigroup downgraded Rio Tinto Group from a “buy” rating to a “neutral” rating in a research report on Monday, May 20th. StockNews.com raised Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a research report on Friday, September 6th. Hsbc Global Res raised Rio Tinto Group to a “strong-buy” rating in a research report on Tuesday, July 23rd. Berenberg Bank downgraded Rio Tinto Group from a “buy” rating to a “hold” rating in a research report on Thursday, June 27th. Finally, HSBC raised Rio Tinto Group from a “hold” rating to a “buy” rating in a research report on Tuesday, July 23rd. Five research analysts have rated the stock with a hold rating, five have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy”.

About Rio Tinto Group

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.