Rio Tinto Group (NYSE:RIO) Shares Sold by Forbes J M & Co. LLP

Forbes J M & Co. LLP reduced its stake in shares of Rio Tinto Group (NYSE:RIO) by 0.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 89,315 shares of the mining company’s stock after selling 663 shares during the period. Forbes J M & Co. LLP’s holdings in Rio Tinto Group were worth $6,357,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the stock. FCG Investment Co raised its holdings in Rio Tinto Group by 42.4% in the 3rd quarter. FCG Investment Co now owns 28,845 shares of the mining company’s stock valued at $2,053,000 after acquiring an additional 8,594 shares during the last quarter. Modera Wealth Management LLC grew its stake in shares of Rio Tinto Group by 5.0% during the 3rd quarter. Modera Wealth Management LLC now owns 70,578 shares of the mining company’s stock valued at $5,023,000 after buying an additional 3,388 shares during the period. Wealth Enhancement Advisory Services LLC grew its stake in shares of Rio Tinto Group by 27.3% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 59,933 shares of the mining company’s stock valued at $4,265,000 after buying an additional 12,861 shares during the period. NorthCrest Asset Manangement LLC purchased a new stake in shares of Rio Tinto Group during the 3rd quarter valued at $413,000. Finally, Burford Brothers Inc. purchased a new stake in shares of Rio Tinto Group during the 3rd quarter valued at $1,101,000. 19.33% of the stock is currently owned by institutional investors and hedge funds.

Rio Tinto Group Stock Up 1.2 %

NYSE:RIO traded up $0.80 on Monday, reaching $66.08. The stock had a trading volume of 482,528 shares, compared to its average volume of 2,759,919. 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 company has a 50-day moving average of $64.89 and a 200 day moving average of $66.35. Rio Tinto Group has a 12-month low of $59.35 and a 12-month high of $75.09.

Rio Tinto Group Cuts Dividend

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

Wall Street Analyst Weigh In

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

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.