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

SPX Gestao de Recursos Ltda decreased its holdings in Rio Tinto Group (NYSE:RIO) by 93.9% in the second quarter, Holdings Channel reports. The firm 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 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Ted Buchan & Co bought a new stake in shares of Rio Tinto Group in the 2nd quarter worth $1,161,000. EP Wealth Advisors LLC grew its holdings in shares of Rio Tinto Group by 22.0% in the second quarter. EP Wealth Advisors LLC now owns 5,240 shares of the mining company’s stock worth $345,000 after acquiring an additional 945 shares during the period. B. Riley Wealth Advisors Inc. grew its holdings in shares of Rio Tinto Group by 10.0% in the second quarter. B. Riley Wealth Advisors Inc. now owns 31,080 shares of the mining company’s stock worth $2,049,000 after acquiring an additional 2,823 shares during the period. Sunbelt Securities Inc. grew its holdings in shares of Rio Tinto Group by 7.4% in the second quarter. Sunbelt Securities Inc. now owns 12,638 shares of the mining company’s stock worth $833,000 after acquiring an additional 872 shares during the period. Finally, Northwestern Mutual Wealth Management Co. grew its holdings in shares of Rio Tinto Group by 7.2% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 40,583 shares of the mining company’s stock worth $2,676,000 after acquiring an additional 2,728 shares during the period. Institutional investors own 19.33% of the company’s stock.

Analyst Ratings Changes

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

Rio Tinto Group Price Performance

NYSE RIO opened at $71.17 on Tuesday. The business’s fifty day moving average is $63.52 and its 200 day moving average is $65.93. 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 market capitalization of $89.14 billion, a PE ratio of 10.18, a price-to-earnings-growth ratio of 0.39 and a beta of 0.66. 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 firm also recently disclosed a semi-annual dividend, which was paid on Thursday, September 26th. Stockholders of record on Friday, August 16th were given a $1.77 dividend. The ex-dividend date was Friday, August 16th. This represents a dividend yield of 6.8%. Rio Tinto Group’s payout ratio is 50.50%.

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.