Rio Tinto Group (NYSE:RIO) Shares Sold by Optimum Investment Advisors

Optimum Investment Advisors trimmed its position in Rio Tinto Group (NYSE:RIO) by 9.0% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,025 shares of the mining company’s stock after selling 300 shares during the quarter. Optimum Investment Advisors’ holdings in Rio Tinto Group were worth $215,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. GHP Investment Advisors Inc. purchased a new position in shares of Rio Tinto Group in the 2nd quarter worth about $26,000. Northwest Investment Counselors LLC purchased a new position in shares of Rio Tinto Group in the 1st quarter worth about $26,000. Geneos Wealth Management Inc. raised its holdings in shares of Rio Tinto Group by 55.4% in the 1st quarter. Geneos Wealth Management Inc. now owns 415 shares of the mining company’s stock worth $26,000 after purchasing an additional 148 shares during the period. Sound Income Strategies LLC raised its holdings in shares of 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 during the period. Finally, Centerpoint Advisors LLC raised its holdings in shares of Rio Tinto Group by 110.0% in 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 during the period. 19.33% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently commented on RIO. Macquarie reiterated a “neutral” rating on shares of Rio Tinto Group in a report on Wednesday. StockNews.com upgraded Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a report on Friday, September 6th. HSBC upgraded Rio Tinto Group from a “hold” rating to a “buy” rating in a report on Tuesday, July 23rd. Royal Bank of Canada upgraded Rio Tinto Group to a “hold” rating in a report on Wednesday, July 31st. Finally, Hsbc Global Res upgraded Rio Tinto Group to a “strong-buy” rating in a report on Tuesday, July 23rd. Four analysts have rated the stock with a hold rating, five have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy”.

Rio Tinto Group Stock Performance

NYSE:RIO opened at $65.09 on Friday. Rio Tinto Group has a 12-month low of $59.35 and a 12-month high of $75.09. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.16 and a current ratio of 1.70. The business has a 50 day simple moving average of $64.62 and a 200 day simple moving average of $66.33.

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 given a dividend of $1.77 per share. The ex-dividend date was Friday, August 16th. This represents a yield of 6.8%.

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.