Rio Tinto Group (NYSE:RIO) Shares Sold by Bank Pictet & Cie Europe AG

Bank Pictet & Cie Europe AG reduced its position in shares of Rio Tinto Group (NYSE:RIO - Free Report) by 62.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 26,515 shares of the mining company's stock after selling 43,884 shares during the period. Bank Pictet & Cie Europe AG's holdings in Rio Tinto Group were worth $1,887,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also modified their holdings of RIO. Bank of Montreal Can increased its position in shares of Rio Tinto Group by 237.0% during the second quarter. Bank of Montreal Can now owns 2,472,471 shares of the mining company's stock worth $164,493,000 after acquiring an additional 1,738,752 shares during the period. Earnest Partners LLC increased its holdings in Rio Tinto Group by 1.4% during the 1st quarter. Earnest Partners LLC now owns 1,395,961 shares of the mining company's stock worth $88,979,000 after purchasing an additional 19,334 shares during the period. National Bank of Canada FI raised its position in Rio Tinto Group by 296.2% in the 1st quarter. National Bank of Canada FI now owns 1,022,765 shares of the mining company's stock valued at $71,382,000 after purchasing an additional 764,635 shares in the last quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH boosted its stake in shares of Rio Tinto Group by 22.7% in the 1st quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 978,859 shares of the mining company's stock valued at $62,392,000 after buying an additional 180,874 shares during the period. Finally, Dimensional Fund Advisors LP grew its position in shares of Rio Tinto Group by 78.3% during the second quarter. Dimensional Fund Advisors LP now owns 858,050 shares of the mining company's stock worth $56,565,000 after buying an additional 376,778 shares in the last quarter. 19.33% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on RIO. Berenberg Bank raised shares of Rio Tinto Group from a "hold" rating to a "buy" rating in a report on Wednesday, October 2nd. Hsbc Global Res upgraded shares of 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 research note on Wednesday, July 31st. HSBC raised Rio Tinto Group from a "hold" rating to a "buy" rating in a report on Tuesday, July 23rd. Finally, StockNews.com raised Rio Tinto Group from a "buy" rating to a "strong-buy" rating in a report on Friday, September 6th. Four 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 MarketBeat, the stock presently has an average rating of "Moderate Buy".

Rio Tinto Group Stock Performance

Shares of RIO stock traded down $0.99 during mid-day trading on Wednesday, hitting $64.49. 2,638,079 shares of the stock were exchanged, compared to its average volume of 2,770,905. 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 quick ratio of 1.16 and a current ratio of 1.70. The stock's fifty day simple moving average is $64.73 and its two-hundred day simple moving average is $66.38.

Rio Tinto Group Cuts Dividend

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