Rio Tinto Group (NYSE:RIO) Shares Sold by IVC Wealth Advisors LLC

IVC Wealth Advisors LLC cut its holdings in shares of Rio Tinto Group (NYSE:RIO) by 1.7% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 9,586 shares of the mining company’s stock after selling 166 shares during the period. IVC Wealth Advisors LLC’s holdings in Rio Tinto Group were worth $682,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of RIO. Bank of Montreal Can grew its stake in Rio Tinto Group by 237.0% during the 2nd quarter. Bank of Montreal Can now owns 2,472,471 shares of the mining company’s stock valued at $164,493,000 after purchasing an additional 1,738,752 shares in the last quarter. Earnest Partners LLC grew its position in shares of Rio Tinto Group by 1.4% during the first quarter. Earnest Partners LLC now owns 1,395,961 shares of the mining company’s stock worth $88,979,000 after buying an additional 19,334 shares in the last quarter. National Bank of Canada FI increased its stake in shares of Rio Tinto Group by 296.2% in the first quarter. National Bank of Canada FI now owns 1,022,765 shares of the mining company’s stock worth $71,382,000 after buying an additional 764,635 shares during the last quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH raised its holdings in Rio Tinto Group by 22.7% in the first quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 978,859 shares of the mining company’s stock valued at $62,392,000 after acquiring an additional 180,874 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in Rio Tinto Group by 78.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 858,050 shares of the mining company’s stock valued at $56,565,000 after acquiring an additional 376,778 shares during the last quarter. 19.33% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

RIO has been the subject of several research analyst reports. Hsbc Global Res raised shares of Rio Tinto Group to a “strong-buy” rating in a research report on Tuesday, July 23rd. Macquarie reissued a “neutral” rating on shares of Rio Tinto Group in a report on Wednesday, October 16th. HSBC raised Rio Tinto Group from a “hold” rating to a “buy” rating in a report on Tuesday, July 23rd. Berenberg Bank upgraded Rio Tinto Group from a “hold” rating to a “buy” rating in a report on Wednesday, October 2nd. Finally, Royal Bank of Canada raised 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 given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy”.

Rio Tinto Group Stock Up 1.0 %

NYSE:RIO opened at $65.28 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. The stock has a 50 day moving average of $64.89 and a 200-day moving average of $66.35. The firm has a market capitalization of $81.77 billion, a PE ratio of 9.56, a price-to-earnings-growth ratio of 0.39 and a beta of 0.66. Rio Tinto Group has a 52 week low of $59.35 and a 52 week high of $75.09.

Rio Tinto Group Cuts Dividend

The business also recently announced 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 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.