Foundations Investment Advisors LLC Sells 187 Shares of Rio Tinto Group (NYSE:RIO)

Foundations Investment Advisors LLC lowered its position in shares of Rio Tinto Group (NYSE:RIO) by 5.4% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,281 shares of the mining company’s stock after selling 187 shares during the period. Foundations Investment Advisors LLC’s holdings in Rio Tinto Group were worth $234,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Geneos Wealth Management Inc. increased its position in Rio Tinto Group by 55.4% during the 1st quarter. Geneos Wealth Management Inc. now owns 415 shares of the mining company’s stock worth $26,000 after buying an additional 148 shares during the period. GHP Investment Advisors Inc. acquired a new position in shares of Rio Tinto Group in the second quarter valued at about $26,000. Winch Advisory Services LLC bought a new position in Rio Tinto Group during the third quarter worth about $26,000. Sound Income Strategies LLC raised its stake in Rio Tinto Group by 70.9% in the 3rd quarter. Sound Income Strategies LLC now owns 417 shares of the mining company’s stock worth $30,000 after purchasing an additional 173 shares in the last quarter. Finally, Centerpoint Advisors LLC grew its position in shares of Rio Tinto Group by 110.0% during the 2nd 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. 19.33% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Hsbc Global Res upgraded Rio Tinto Group to a “strong-buy” rating in a research note on Tuesday, July 23rd. Berenberg Bank upgraded Rio Tinto Group from a “hold” rating to a “buy” rating in a research report on Wednesday, October 2nd. Macquarie reaffirmed a “neutral” rating on shares of Rio Tinto Group in a research report on Wednesday, October 16th. StockNews.com raised shares of Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a report on Friday, September 6th. Finally, Royal Bank of Canada raised shares of Rio Tinto Group to a “hold” rating in a report on Wednesday, July 31st. Four research analysts have rated the stock with a hold rating, four have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Rio Tinto Group has an average rating of “Moderate Buy”.

Rio Tinto Group Stock Performance

Rio Tinto Group stock opened at $65.28 on Friday. 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 stock has a market cap of $81.78 billion, a PE ratio of 9.56, a P/E/G ratio of 0.39 and a beta of 0.66. Rio Tinto Group has a 12-month low of $59.35 and a 12-month high of $75.09. The business’s 50-day moving average price is $64.89 and its two-hundred day moving average price is $66.35.

Rio Tinto Group Cuts Dividend

The business also recently disclosed a semi-annual dividend, which was paid on Thursday, September 26th. Investors of record on Friday, August 16th were paid a $1.77 dividend. This represents a yield of 6.8%. The ex-dividend date was Friday, August 16th. Rio Tinto Group’s payout ratio is 51.68%.

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.