Quantbot Technologies LP Has $3.41 Million Stock Position in Rio Tinto Group (NYSE:RIO)

Quantbot Technologies LP increased its position in Rio Tinto Group (NYSE:RIO) by 73.6% in the second quarter, Holdings Channel.com reports. The firm owned 51,679 shares of the mining company’s stock after acquiring an additional 21,916 shares during the period. Quantbot Technologies LP’s holdings in Rio Tinto Group were worth $3,407,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP increased its position in Rio Tinto Group by 78.3% in the second quarter. Dimensional Fund Advisors LP now owns 858,050 shares of the mining company’s stock worth $56,565,000 after purchasing an additional 376,778 shares during the period. Massachusetts Financial Services Co. MA increased its position in Rio Tinto Group by 3.2% in the second quarter. Massachusetts Financial Services Co. MA now owns 128,617 shares of the mining company’s stock worth $8,480,000 after purchasing an additional 4,023 shares during the period. Capital Wealth Planning LLC increased its position in Rio Tinto Group by 81.3% in the second quarter. Capital Wealth Planning LLC now owns 26,433 shares of the mining company’s stock worth $1,743,000 after purchasing an additional 11,857 shares during the period. J.W. Cole Advisors Inc. increased its position in Rio Tinto Group by 19.8% in the second quarter. J.W. Cole Advisors Inc. now owns 5,559 shares of the mining company’s stock worth $367,000 after purchasing an additional 920 shares during the period. Finally, Oppenheimer Asset Management Inc. grew its position in shares of Rio Tinto Group by 14.3% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 139,444 shares of the mining company’s stock worth $9,194,000 after buying an additional 17,407 shares during the period. 19.33% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have recently issued reports on RIO. Royal Bank of Canada upgraded Rio Tinto Group to a “hold” rating in a research report on Wednesday, July 31st. Hsbc Global Res upgraded Rio Tinto Group to a “strong-buy” rating in a research report on Tuesday, July 23rd. StockNews.com upgraded Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a research report on Friday, September 6th. HSBC upgraded Rio Tinto Group from a “hold” rating to a “buy” rating in a research report on Tuesday, July 23rd. Finally, Citigroup lowered Rio Tinto Group from a “buy” rating to a “neutral” rating in a research report on Monday, May 20th. Five research analysts have rated the stock with a hold rating, four have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy”.

Rio Tinto Group Stock Performance

NYSE:RIO opened at $63.19 on Tuesday. Rio Tinto Group has a fifty-two week low of $59.35 and a fifty-two week high of $75.09. The company has a current ratio of 1.70, a quick ratio of 1.16 and a debt-to-equity ratio of 0.23. The business’s 50-day simple moving average is $63.43 and its 200-day simple moving average is $65.70.

Rio Tinto Group Cuts Dividend

The firm also recently disclosed a semi-annual dividend, which will be paid on Thursday, September 26th. Stockholders of record on Friday, August 16th will be issued a dividend of $1.77 per share. This represents a dividend yield of 6.8%. The ex-dividend date is Friday, August 16th.

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.