Rio Tinto Group (NYSE:RIO) Stake Trimmed by Gateway Investment Advisers LLC

Gateway Investment Advisers LLC lowered its stake in Rio Tinto Group (NYSE:RIO) by 6.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,172 shares of the mining company’s stock after selling 906 shares during the quarter. Gateway Investment Advisers LLC’s holdings in Rio Tinto Group were worth $866,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Russell Investments Group Ltd. grew its stake in Rio Tinto Group by 0.4% during the 1st quarter. Russell Investments Group Ltd. now owns 39,964 shares of the mining company’s stock valued at $2,547,000 after acquiring an additional 147 shares in the last quarter. Geneos Wealth Management Inc. lifted its holdings 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 last quarter. Optas LLC lifted its holdings in shares of Rio Tinto Group by 4.2% during the 1st quarter. Optas LLC now owns 3,833 shares of the mining company’s stock valued at $244,000 after buying an additional 154 shares during the last quarter. Eagle Bluffs Wealth Management LLC lifted its holdings in shares of Rio Tinto Group by 1.1% during the 2nd quarter. Eagle Bluffs Wealth Management LLC now owns 14,997 shares of the mining company’s stock valued at $989,000 after buying an additional 163 shares during the last quarter. Finally, Bessemer Group Inc. lifted its holdings in shares of Rio Tinto Group by 2.4% during the 1st quarter. Bessemer Group Inc. now owns 7,304 shares of the mining company’s stock valued at $465,000 after buying an additional 169 shares during the last quarter. Hedge funds and other institutional investors own 19.33% of the company’s stock.

Wall Street Analyst Weigh In

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

Rio Tinto Group Price Performance

Shares of RIO stock opened at $67.23 on Monday. The company has a current ratio of 1.70, a quick ratio of 1.16 and a debt-to-equity ratio of 0.23. Rio Tinto Group has a 12 month low of $59.35 and a 12 month high of $75.09. The stock has a 50 day moving average of $64.35 and a 200-day moving average of $66.29.

Rio Tinto Group Cuts Dividend

The company also recently disclosed a semi-annual dividend, which was paid on Thursday, September 26th. Stockholders of record on Friday, August 16th were given a dividend of $1.77 per share. This represents a dividend yield of 6.8%. The ex-dividend date of this dividend was Friday, August 16th.

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.