Rio Tinto Group (NYSE:RIO) Shares Sold by AlphaStar Capital Management LLC

AlphaStar Capital Management LLC decreased its holdings in Rio Tinto Group (NYSE:RIO) by 25.3% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,472 shares of the mining company’s stock after selling 1,177 shares during the quarter. AlphaStar Capital Management LLC’s holdings in Rio Tinto Group were worth $229,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of RIO. Solstein Capital LLC grew its holdings in Rio Tinto Group by 163.1% in the second quarter. Solstein Capital LLC now owns 5,130 shares of the mining company’s stock valued at $338,000 after purchasing an additional 3,180 shares during the period. Allspring Global Investments Holdings LLC boosted its holdings in shares of Rio Tinto Group by 32.4% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 12,758 shares of the mining company’s stock valued at $841,000 after purchasing an additional 3,120 shares during the last quarter. Cohen Investment Advisors LLC grew its stake in shares of Rio Tinto Group by 19.2% during the 2nd quarter. Cohen Investment Advisors LLC now owns 5,609 shares of the mining company’s stock valued at $357,000 after buying an additional 904 shares during the period. Bank of New York Mellon Corp increased its holdings in shares of Rio Tinto Group by 3.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 77,694 shares of the mining company’s stock worth $5,122,000 after buying an additional 2,908 shares during the last quarter. Finally, Verdence Capital Advisors LLC raised its position in shares of Rio Tinto Group by 43.6% in the 2nd quarter. Verdence Capital Advisors LLC now owns 32,515 shares of the mining company’s stock worth $2,144,000 after buying an additional 9,877 shares during the period. Institutional investors and hedge funds own 19.33% of the company’s stock.

Rio Tinto Group Stock Performance

Shares of NYSE:RIO opened at $64.00 on Wednesday. The company has a 50 day moving average of $64.92 and a two-hundred day moving average of $66.20. Rio Tinto Group has a 52-week low of $59.80 and a 52-week high of $75.09. The company has a quick ratio of 1.16, a current ratio of 1.70 and a debt-to-equity ratio of 0.23.

Rio Tinto Group Cuts Dividend

The company 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 dividend of $1.77 per share. This represents a yield of 6.8%. The ex-dividend date of this dividend is Friday, August 16th.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on RIO shares. Berenberg Bank lowered Rio Tinto Group from a “buy” rating to a “hold” rating in a research note on Thursday, June 27th. Hsbc Global Res raised shares of Rio Tinto Group to a “strong-buy” rating in a research report on Tuesday, July 23rd. HSBC raised 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 raised shares of Rio Tinto Group to a “hold” rating in a research report on Wednesday, July 31st. Finally, StockNews.com upgraded shares of Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a report on Tuesday, May 21st. Five investment analysts have rated the stock with a hold rating, five have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, Rio Tinto Group currently 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.