Rio Tinto Group (NYSE:RIO) Shares Sold by Ballentine Partners LLC

Ballentine Partners LLC cut its position in Rio Tinto Group (NYSE:RIO) by 31.1% during the third quarter, HoldingsChannel.com reports. The fund owned 3,305 shares of the mining company’s stock after selling 1,494 shares during the period. Ballentine Partners LLC’s holdings in Rio Tinto Group were worth $235,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Geneos Wealth Management Inc. boosted its stake in 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 buying an additional 148 shares during the last quarter. GHP Investment Advisors Inc. acquired a new position in Rio Tinto Group during the second quarter worth $26,000. Winch Advisory Services LLC acquired a new position in Rio Tinto Group during the third quarter worth $26,000. FSC Wealth Advisors LLC acquired a new position in Rio Tinto Group during the third quarter worth $28,000. Finally, Sound Income Strategies LLC boosted its stake in Rio Tinto Group by 70.9% during the third quarter. Sound Income Strategies LLC now owns 417 shares of the mining company’s stock worth $30,000 after buying an additional 173 shares during the last quarter. Institutional investors and hedge funds own 19.33% of the company’s stock.

Rio Tinto Group Stock Performance

RIO stock opened at $66.58 on Wednesday. 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 business’s fifty day moving average price is $65.05 and its 200 day moving average price is $66.35.

Rio Tinto Group Cuts Dividend

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

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Macquarie restated a “neutral” rating on shares of Rio Tinto Group in a research report on Wednesday, October 16th. Berenberg Bank upgraded Rio Tinto Group from a “hold” rating to a “buy” rating in a research report on Wednesday, October 2nd. HSBC upgraded Rio Tinto Group from a “hold” rating to a “buy” rating in a research report on Tuesday, July 23rd. Hsbc Global Res upgraded Rio Tinto Group to a “strong-buy” rating in a research report on Tuesday, July 23rd. Finally, Royal Bank of Canada upgraded Rio Tinto Group to a “hold” rating in a research report on Wednesday, July 31st. Four research analysts have rated the stock with a hold rating, four have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Rio Tinto Group has an average rating of “Moderate Buy”.

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.