Valeo Financial Advisors LLC Decreases Stock Holdings in Rio Tinto Group (NYSE:RIO)

Valeo Financial Advisors LLC lowered its stake in Rio Tinto Group (NYSE:RIO) by 27.9% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,275 shares of the mining company’s stock after selling 2,043 shares during the quarter. Valeo Financial Advisors LLC’s holdings in Rio Tinto Group were worth $375,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Fiduciary Financial Group LLC raised its stake in Rio Tinto Group by 3.7% during the 3rd quarter. Fiduciary Financial Group LLC now owns 4,945 shares of the mining company’s stock valued at $330,000 after purchasing an additional 178 shares during the period. San Luis Wealth Advisors LLC raised its stake in shares of Rio Tinto Group by 132.3% in the third quarter. San Luis Wealth Advisors LLC now owns 10,579 shares of the mining company’s stock valued at $753,000 after acquiring an additional 6,025 shares during the period. Advocate Group LLC raised its holdings in shares of Rio Tinto Group by 17.1% in the third quarter. Advocate Group LLC now owns 45,623 shares of the mining company’s stock worth $3,247,000 after buying an additional 6,667 shares during the period. Mather Group LLC. increased its stake in Rio Tinto Group by 87.5% in the 3rd quarter. Mather Group LLC. now owns 2,967 shares of the mining company’s stock worth $211,000 after buying an additional 1,385 shares during the period. Finally, MKT Advisors LLC grew its stake in Rio Tinto Group by 19.8% in the third quarter. MKT Advisors LLC now owns 4,390 shares of the mining company’s stock worth $311,000 after purchasing an additional 725 shares in the last quarter. Hedge funds and other institutional investors own 19.33% of the company’s stock.

Rio Tinto Group Price Performance

Shares of NYSE RIO opened at $67.70 on Tuesday. The company has a quick ratio of 1.16, a current ratio of 1.70 and a debt-to-equity ratio of 0.23. The stock has a fifty day moving average price of $64.44 and a 200 day moving average price of $66.32. Rio Tinto Group has a 1-year low of $59.35 and a 1-year high of $75.09.

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. The ex-dividend date of this dividend was Friday, August 16th. This represents a dividend yield of 6.8%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on RIO. Hsbc Global Res raised shares of Rio Tinto Group to a “strong-buy” rating in a report on Tuesday, July 23rd. HSBC upgraded Rio Tinto Group from a “hold” rating to a “buy” rating in a research report on Tuesday, July 23rd. Royal Bank of Canada raised shares of Rio Tinto Group to a “hold” rating in a research note on Wednesday, July 31st. StockNews.com upgraded Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a research report on Friday, September 6th. Finally, Berenberg Bank upgraded shares of Rio Tinto Group from a “hold” rating to a “buy” rating in a report on Wednesday, October 2nd. Three investment analysts have rated the stock with a hold rating, five have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, Rio Tinto Group currently has a consensus 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.