Inspire Advisors LLC Sells 165 Shares of Rio Tinto Group (NYSE:RIO)

Inspire Advisors LLC lowered its stake in Rio Tinto Group (NYSE:RIO) by 1.8% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 8,918 shares of the mining company’s stock after selling 165 shares during the period. Inspire Advisors LLC’s holdings in Rio Tinto Group were worth $635,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. GHP Investment Advisors Inc. bought a new position in shares of Rio Tinto Group in the second quarter worth $26,000. Northwest Investment Counselors LLC bought a new position in shares of Rio Tinto Group in the first quarter worth $26,000. Geneos Wealth Management Inc. increased its position in shares of Rio Tinto Group by 55.4% in the first 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 boosted its stake in Rio Tinto Group by 70.9% in the third quarter. Sound Income Strategies LLC now owns 417 shares of the mining company’s stock valued at $30,000 after buying an additional 173 shares in the last quarter. Finally, Centerpoint Advisors LLC boosted its stake in Rio Tinto Group by 110.0% in the second quarter. Centerpoint Advisors LLC now owns 525 shares of the mining company’s stock valued at $35,000 after buying an additional 275 shares in the last quarter. Institutional investors own 19.33% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. StockNews.com raised Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a research note on Friday, September 6th. Royal Bank of Canada raised Rio Tinto Group to a “hold” rating in a research note on Wednesday, July 31st. Hsbc Global Res raised Rio Tinto Group to a “strong-buy” rating in a research note on Tuesday, July 23rd. Macquarie reaffirmed a “neutral” rating on shares of Rio Tinto Group in a research note on Wednesday. Finally, HSBC raised Rio Tinto Group from a “hold” rating to a “buy” rating in a research note on Tuesday, July 23rd. Four equities research 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. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy”.

Rio Tinto Group Price Performance

Shares of RIO stock opened at $65.36 on Friday. The business’s 50-day moving average price is $64.66 and its 200-day moving average price is $66.33. 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 current ratio of 1.70 and a quick ratio of 1.16.

Rio Tinto Group Cuts Dividend

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

Rio Tinto Group Company 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.