Wright Investors Service Inc. Sells 4,080 Shares of Rio Tinto Group (NYSE:RIO)

Wright Investors Service Inc. decreased its position in Rio Tinto Group (NYSE:RIO) by 27.2% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 10,893 shares of the mining company’s stock after selling 4,080 shares during the period. Wright Investors Service Inc.’s holdings in Rio Tinto Group were worth $775,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Northwest Investment Counselors LLC acquired a new stake in Rio Tinto Group during the 1st quarter worth approximately $26,000. Geneos Wealth Management Inc. raised its holdings 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 acquiring an additional 148 shares during the period. GHP Investment Advisors Inc. bought a new stake in Rio Tinto Group in the 2nd quarter valued at $26,000. YHB Investment Advisors Inc. acquired a new position in Rio Tinto Group in the 1st quarter worth $29,000. Finally, LifeSteps Financial Inc. bought a new position in Rio Tinto Group during the 1st quarter worth about $33,000. Institutional investors own 19.33% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on RIO. HSBC upgraded Rio Tinto Group from a “hold” rating to a “buy” rating in a report on Tuesday, July 23rd. Hsbc Global Res raised Rio Tinto Group to a “strong-buy” rating in a research report on Tuesday, July 23rd. 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 raised shares of Rio Tinto Group from a “hold” rating to a “buy” rating in a research report on Wednesday. Finally, Royal Bank of Canada raised shares of Rio Tinto Group to a “hold” rating in a research report on Wednesday, July 31st. Four analysts have rated the stock with a hold rating, five have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy”.

Rio Tinto Group Stock Down 0.2 %

Shares of NYSE RIO traded down $0.13 during trading hours on Friday, hitting $69.70. The company had a trading volume of 2,066,070 shares, compared to its average volume of 2,731,815. Rio Tinto Group has a 1-year low of $59.35 and a 1-year high of $75.09. The company has a current ratio of 1.70, a quick ratio of 1.16 and a debt-to-equity ratio of 0.23. The firm’s 50 day moving average is $64.02 and its 200-day moving average is $66.13.

Rio Tinto Group Cuts Dividend

The company 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. This represents a yield of 6.8%. The ex-dividend date of this dividend was 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.