Requisite Capital Management LLC Sells 2,469 Shares of Rio Tinto Group (NYSE:RIO)

Requisite Capital Management LLC trimmed its position in Rio Tinto Group (NYSE:RIO) by 35.2% in the third quarter, Holdings Channel reports. The fund owned 4,545 shares of the mining company’s stock after selling 2,469 shares during the quarter. Requisite Capital Management LLC’s holdings in Rio Tinto Group were worth $323,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Russell Investments Group Ltd. lifted its stake in shares of Rio Tinto Group by 0.4% in the 1st quarter. Russell Investments Group Ltd. now owns 39,964 shares of the mining company’s stock valued at $2,547,000 after acquiring an additional 147 shares during the last quarter. Geneos Wealth Management Inc. lifted its stake in shares of Rio Tinto Group by 55.4% in the 1st quarter. Geneos Wealth Management Inc. now owns 415 shares of the mining company’s stock valued at $26,000 after acquiring an additional 148 shares during the last quarter. Optas LLC lifted its stake in shares of Rio Tinto Group by 4.2% in the 1st quarter. Optas LLC now owns 3,833 shares of the mining company’s stock valued at $244,000 after acquiring an additional 154 shares during the last quarter. Eagle Bluffs Wealth Management LLC raised its position in Rio Tinto Group by 1.1% during the 2nd quarter. Eagle Bluffs Wealth Management LLC now owns 14,997 shares of the mining company’s stock worth $989,000 after purchasing an additional 163 shares during the last quarter. Finally, Bessemer Group Inc. raised its position in Rio Tinto Group by 2.4% during the 1st quarter. Bessemer Group Inc. now owns 7,304 shares of the mining company’s stock worth $465,000 after purchasing an additional 169 shares during the last quarter. 19.33% of the stock is currently owned by institutional investors.

Rio Tinto Group Price Performance

Shares of RIO stock traded up $0.39 during trading on Friday, hitting $67.23. The company’s stock had a trading volume of 3,490,044 shares, compared to its average volume of 2,759,185. 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 business has a fifty day moving average of $64.35 and a 200-day moving average of $66.24. Rio Tinto Group has a 52 week low of $59.35 and a 52 week high of $75.09.

Rio Tinto Group Cuts Dividend

The company also recently disclosed a semi-annual dividend, which was paid on Thursday, September 26th. Investors of record on Friday, August 16th were paid a $1.77 dividend. The ex-dividend date of this dividend was Friday, August 16th. This represents a yield of 6.8%.

Analysts Set New Price Targets

Several research analysts recently issued reports on RIO shares. Berenberg Bank raised Rio Tinto Group from a “hold” rating to a “buy” rating in a research report on Wednesday, October 2nd. Royal Bank of Canada raised Rio Tinto Group to a “hold” rating in a research report on Wednesday, July 31st. StockNews.com raised Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a research report on Friday, September 6th. Hsbc Global Res raised Rio Tinto Group to a “strong-buy” rating in a research report on Tuesday, July 23rd. Finally, HSBC raised Rio Tinto Group from a “hold” rating to a “buy” rating in a research report on Tuesday, July 23rd. Three research analysts have rated the stock with a hold rating, five have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, Rio Tinto Group has an average rating of “Moderate Buy”.

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.