Rio Tinto Group (NYSE:RIO) Shares Sold by Cambridge Trust Co.

Cambridge Trust Co. decreased its position in shares of Rio Tinto Group (NYSE:RIO) by 92.8% in the 1st quarter, HoldingsChannel.com reports. The fund owned 7,446 shares of the mining company’s stock after selling 95,392 shares during the quarter. Cambridge Trust Co.’s holdings in Rio Tinto Group were worth $475,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. Wellington Management Group LLP raised its stake in shares of Rio Tinto Group by 7.1% during the fourth 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 in the last quarter. National Bank of Canada FI raised its stake in shares of Rio Tinto Group by 296.2% during the first 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. SPX Gestao de Recursos Ltda raised its stake in shares of Rio Tinto Group by 560.8% during the fourth quarter. SPX Gestao de Recursos Ltda now owns 791,933 shares of the mining company’s stock valued at $58,967,000 after purchasing an additional 672,095 shares in the last quarter. Fisher Asset Management LLC raised its stake in shares of Rio Tinto Group by 3.1% during the fourth quarter. Fisher Asset Management LLC now owns 16,045,541 shares of the mining company’s stock valued at $1,194,751,000 after purchasing an additional 475,329 shares in the last quarter. Finally, Van ECK Associates Corp raised its stake in shares of Rio Tinto Group by 191.3% during the fourth quarter. Van ECK Associates Corp now owns 715,829 shares of the mining company’s stock valued at $53,301,000 after purchasing an additional 470,073 shares in the last quarter. Institutional investors and hedge funds own 19.33% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. StockNews.com upgraded shares of Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, May 21st. Citigroup cut shares of Rio Tinto Group from a “buy” rating to a “neutral” rating in a research note on Monday, May 20th. HSBC upgraded shares of Rio Tinto Group from a “hold” rating to a “buy” rating in a research report on Tuesday, July 23rd. Royal Bank of Canada upgraded shares of Rio Tinto Group to a “hold” rating in a research report on Wednesday. Finally, Hsbc Global Res upgraded shares of Rio Tinto Group to a “strong-buy” rating in a research report on Tuesday, July 23rd. Five 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 company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy”.

Rio Tinto Group Price Performance

RIO traded up $0.18 during trading on Friday, reaching $63.67. The company had a trading volume of 3,892,186 shares, compared to its average volume of 2,634,045. The firm’s 50-day simple moving average is $66.75 and its 200 day simple moving average is $66.93. Rio Tinto Group has a 12-month low of $58.27 and a 12-month high of $75.09. The company has a current ratio of 1.70, a quick ratio of 1.17 and a debt-to-equity ratio of 0.23.

Rio Tinto Group Cuts Dividend

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

About Rio Tinto Group

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.