Jaffetilchin Investment Partners LLC Cuts Stock Position in Rio Tinto Group (NYSE:RIO)

Jaffetilchin Investment Partners LLC cut its position in Rio Tinto Group (NYSE:RIO) by 37.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,281 shares of the mining company’s stock after selling 3,113 shares during the quarter. Jaffetilchin Investment Partners LLC’s holdings in Rio Tinto Group were worth $337,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Wellington Management Group LLP raised its stake in shares of Rio Tinto Group by 7.1% during the 4th quarter. Wellington Management Group LLP now owns 24,838,524 shares of the mining company’s stock valued at $1,849,476,000 after purchasing an additional 1,644,751 shares during the period. Fisher Asset Management LLC boosted its holdings in shares of Rio Tinto Group by 3.1% in the 4th quarter. Fisher Asset Management LLC now owns 16,045,541 shares of the mining company’s stock worth $1,194,751,000 after purchasing an additional 475,329 shares in the last quarter. Earnest Partners LLC boosted its holdings in shares of Rio Tinto Group by 1.4% in 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 in the last quarter. National Bank of Canada FI boosted its holdings in shares of 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 worth $71,382,000 after purchasing an additional 764,635 shares in the last quarter. Finally, MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH boosted its holdings 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 worth $62,392,000 after purchasing an additional 180,874 shares in the last quarter. 19.33% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. Berenberg Bank lowered Rio Tinto Group from a “buy” rating to a “hold” rating in a research report on Thursday, June 27th. StockNews.com upgraded Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a report on Tuesday, May 21st. Hsbc Global Res upgraded 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 report on Tuesday, July 23rd. Finally, Royal Bank of Canada upgraded Rio Tinto Group to a “hold” rating in a report on Wednesday. Five equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy”.

Rio Tinto Group Trading Down 0.4 %

Shares of NYSE RIO traded down $0.25 during midday trading on Friday, hitting $63.24. 1,916,636 shares of the stock traded hands, compared to its average volume of 2,699,589. The firm has a 50-day moving average of $66.91 and a two-hundred day moving average of $66.98. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.69 and a quick ratio of 1.17. Rio Tinto Group has a one year low of $58.27 and a one year high of $75.09.

Rio Tinto Group Cuts Dividend

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

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.