Earnest Partners LLC Has $89.16 Million Stock Holdings in Rio Tinto Group (NYSE:RIO)

Earnest Partners LLC decreased its position in shares of Rio Tinto Group (NYSE:RIO - Free Report) by 3.1% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,352,369 shares of the mining company's stock after selling 43,592 shares during the quarter. Earnest Partners LLC owned approximately 0.11% of Rio Tinto Group worth $89,162,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Northwest Investment Counselors LLC bought a new stake in Rio Tinto Group during the 1st quarter worth about $26,000. Geneos Wealth Management Inc. grew its holdings in Rio Tinto Group by 55.4% during the 1st quarter. Geneos Wealth Management Inc. now owns 415 shares of the mining company's stock worth $26,000 after acquiring an additional 148 shares during the period. GHP Investment Advisors Inc. bought a new stake in shares of Rio Tinto Group during the 2nd quarter valued at $26,000. YHB Investment Advisors Inc. bought a new position in shares of Rio Tinto Group in the 1st quarter worth $29,000. Finally, LifeSteps Financial Inc. acquired a new position in shares of Rio Tinto Group during the 1st quarter worth about $33,000. 19.33% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the stock. HSBC raised shares of Rio Tinto Group from a "hold" rating to a "buy" rating in a research report on Tuesday, July 23rd. Hsbc Global Res upgraded Rio Tinto Group to a "strong-buy" rating in a report on Tuesday, July 23rd. Royal Bank of Canada upgraded shares of Rio Tinto Group to a "hold" rating in a report on Wednesday, July 31st. StockNews.com upgraded shares of Rio Tinto Group from a "buy" rating to a "strong-buy" rating in a report on Friday, September 6th. Finally, Berenberg Bank lowered shares of Rio Tinto Group from a "buy" rating to a "hold" rating in a research note on Thursday, June 27th. Five research analysts have rated the stock with a hold rating, four have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy".

Rio Tinto Group Stock Performance

NYSE RIO traded up $3.10 during trading on Thursday, reaching $70.77. 5,285,327 shares of the company's stock were exchanged, compared to its average volume of 2,716,051. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.70 and a quick ratio of 1.16. The business has a 50 day moving average price of $63.10 and a 200-day moving average price of $65.73. Rio Tinto Group has a fifty-two week low of $59.35 and a fifty-two week high of $75.09.

Rio Tinto Group Cuts Dividend

The business also recently disclosed a semi-annual dividend, which will be paid on Thursday, September 26th. Stockholders of record on Friday, August 16th will be given a $1.77 dividend. This represents a dividend yield of 6.8%. The ex-dividend date of this dividend is 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.