RNC Capital Management LLC Sells 1,965 Shares of Rio Tinto Group (NYSE:RIO)

RNC Capital Management LLC decreased its holdings in Rio Tinto Group (NYSE:RIOGet Rating) by 25.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,820 shares of the mining company’s stock after selling 1,965 shares during the period. RNC Capital Management LLC’s holdings in Rio Tinto Group were worth $390,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of the business. Naples Global Advisors LLC increased its holdings in shares of Rio Tinto Group by 5.4% in the 4th quarter. Naples Global Advisors LLC now owns 77,160 shares of the mining company’s stock worth $5,165,000 after purchasing an additional 3,975 shares in the last quarter. Frontier Wealth Management LLC bought a new stake in shares of Rio Tinto Group in the 4th quarter worth $2,166,000. Sage Rhino Capital LLC increased its holdings in shares of Rio Tinto Group by 10.5% in the 4th quarter. Sage Rhino Capital LLC now owns 3,973 shares of the mining company’s stock worth $266,000 after purchasing an additional 376 shares in the last quarter. Advisor Partners LLC increased its holdings in shares of Rio Tinto Group by 7.8% in the 4th quarter. Advisor Partners LLC now owns 12,293 shares of the mining company’s stock worth $823,000 after purchasing an additional 893 shares in the last quarter. Finally, Regency Capital Management Inc. DE bought a new stake in shares of Rio Tinto Group in the 4th quarter worth $1,693,000. 10.06% of the stock is owned by institutional investors and hedge funds.

Several analysts recently commented on RIO shares. JPMorgan Chase & Co. cut their price objective on Rio Tinto Group from GBX 5,100 ($66.35) to GBX 4,850 ($63.10) in a report on Thursday, February 24th. BMO Capital Markets raised Rio Tinto Group from an “underperform” rating to a “market perform” rating in a report on Monday, March 14th. Liberum Capital raised Rio Tinto Group from a “sell” rating to a “hold” rating in a report on Tuesday, March 29th. Royal Bank of Canada lifted their price objective on Rio Tinto Group from GBX 5,300 ($68.96) to GBX 5,600 ($72.86) in a report on Tuesday. Finally, Zacks Investment Research lowered Rio Tinto Group from a “buy” rating to a “hold” rating in a report on Thursday, March 10th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Rio Tinto Group has an average rating of “Hold” and a consensus target price of $2,420.06.

Shares of Rio Tinto Group stock traded down $1.86 during trading hours on Tuesday, hitting $80.54. The company’s stock had a trading volume of 121,217 shares, compared to its average volume of 4,745,923. The business has a 50 day moving average price of $78.38 and a two-hundred day moving average price of $71.23. Rio Tinto Group has a 12-month low of $59.58 and a 12-month high of $95.97. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.93 and a quick ratio of 1.50.

The firm also recently disclosed a None dividend, which will be paid on Thursday, April 21st. Stockholders of record on Friday, March 11th will be given a $4.785 dividend. This represents a dividend yield of 10.2%. This is an increase from Rio Tinto Group’s previous None dividend of $1.10. The ex-dividend date is Thursday, March 10th.

Rio Tinto Group Company Profile (Get Rating)

Rio Tinto Group engages in exploring, mining, and processing mineral resources worldwide. The company offers aluminum, copper, diamonds, gold, borates, titanium dioxide, salt, iron ore, and uranium. It also owns and operates open pit and underground mines, mills, refineries, smelters, power stations, and research and service facilities.

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Institutional Ownership by Quarter for Rio Tinto Group (NYSE:RIO)

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