SG Americas Securities LLC Cuts Stake in Rio Tinto Group (NYSE:RIO)

SG Americas Securities LLC trimmed its stake in shares of Rio Tinto Group (NYSE:RIO - Free Report) by 75.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,263 shares of the mining company's stock after selling 10,289 shares during the quarter. SG Americas Securities LLC's holdings in Rio Tinto Group were worth $232,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of the company. GHP Investment Advisors Inc. purchased a new position in shares of Rio Tinto Group during the second quarter valued at approximately $26,000. Northwest Investment Counselors LLC purchased a new stake in shares of Rio Tinto Group during the 1st quarter valued at about $26,000. Geneos Wealth Management Inc. grew its position in 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. Centerpoint Advisors LLC lifted its holdings in shares of Rio Tinto Group by 110.0% during the 2nd quarter. Centerpoint Advisors LLC now owns 525 shares of the mining company's stock valued at $35,000 after buying an additional 275 shares during the period. Finally, Nisa Investment Advisors LLC purchased a new position in shares of Rio Tinto Group in the 2nd quarter worth $36,000. Hedge funds and other institutional investors own 19.33% of the company's stock.

Rio Tinto Group Price Performance

RIO traded up $0.53 during trading hours on Tuesday, reaching $65.48. 1,743,839 shares of the company's stock traded hands, compared to its average volume of 2,771,543. The firm has a 50-day moving average price of $64.70 and a 200 day moving average price of $66.37. 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 has a 52-week low of $59.35 and a 52-week high of $75.09.

Rio Tinto Group Cuts Dividend

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

Wall Street Analyst Weigh In

RIO has been the topic of a number of recent research reports. Berenberg Bank raised Rio Tinto Group from a "hold" rating to a "buy" rating in a report on Wednesday, October 2nd. Hsbc Global Res raised shares of Rio Tinto Group to a "strong-buy" rating in a research report on Tuesday, July 23rd. Macquarie reissued a "neutral" rating on shares of Rio Tinto Group in a report on Wednesday, October 16th. Royal Bank of Canada raised Rio Tinto Group to a "hold" rating in a research report on Wednesday, July 31st. Finally, StockNews.com upgraded shares of Rio Tinto Group from a "buy" rating to a "strong-buy" rating in a research note on Friday, September 6th. Four equities research analysts have rated the stock with a hold rating, five have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, Rio Tinto Group currently has a consensus 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.