Rio Tinto Group (NYSE:RIO) Sees Unusually-High Trading Volume

Rio Tinto Group (NYSE:RIO - Get Free Report) saw strong trading volume on Thursday . 1,370,728 shares changed hands during mid-day trading, a decline of 49% from the previous session's volume of 2,674,820 shares.The stock last traded at $64.88 and had previously closed at $62.91.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Hsbc Global Res raised shares of Rio Tinto Group to a "strong-buy" rating in a research note 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. HSBC raised shares of Rio Tinto Group from a "hold" rating to a "buy" rating in a research note on Tuesday, July 23rd. Berenberg Bank downgraded shares of Rio Tinto Group from a "buy" rating to a "hold" rating in a research note on Thursday, June 27th. Finally, StockNews.com raised shares of Rio Tinto Group from a "buy" rating to a "strong-buy" rating in a research note on Friday, September 6th. Five investment analysts have rated the stock with a hold rating, four have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Rio Tinto Group has an average rating of "Moderate Buy".

Rio Tinto Group Price Performance

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 business's 50-day simple moving average is $63.20 and its 200 day simple moving average is $65.66. The firm has a market capitalization of $81.66 billion, a P/E ratio of 9.22, a PEG ratio of 0.35 and a beta of 0.66.

Rio Tinto Group Cuts Dividend

The firm also recently declared a semi-annual dividend, which will be paid on Thursday, September 26th. Shareholders of record on Friday, August 16th will be given a dividend of $1.77 per share. This represents a yield of 6.8%. The ex-dividend date is Friday, August 16th. Rio Tinto Group's payout ratio is currently 49.93%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Natixis Advisors LLC grew its position in Rio Tinto Group by 8.7% during the second quarter. Natixis Advisors LLC now owns 695,731 shares of the mining company's stock valued at $45,870,000 after acquiring an additional 55,967 shares during the last quarter. QRG Capital Management Inc. increased its stake in shares of Rio Tinto Group by 38.1% in the second quarter. QRG Capital Management Inc. now owns 95,497 shares of the mining company's stock worth $6,296,000 after buying an additional 26,329 shares during the period. Campbell & CO Investment Adviser LLC purchased a new position in shares of Rio Tinto Group in the fourth quarter worth $4,319,000. Capstone Investment Advisors LLC purchased a new position in shares of Rio Tinto Group in the first quarter worth $1,734,000. Finally, Salem Investment Counselors Inc. increased its stake in shares of Rio Tinto Group by 12.2% in the first quarter. Salem Investment Counselors Inc. now owns 127,216 shares of the mining company's stock worth $8,430,000 after buying an additional 13,856 shares during the period. 19.33% of the stock is currently owned by institutional investors.

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.