Dimensional Fund Advisors LP Lowers Stock Position in Rio Tinto Group (NYSE:RIO)

Dimensional Fund Advisors LP lowered its position in shares of Rio Tinto Group (NYSE:RIO) by 3.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,208,392 shares of the mining company’s stock after selling 88,156 shares during the quarter. Dimensional Fund Advisors LP owned about 0.18% of Rio Tinto Group worth $140,984,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Strengthening Families & Communities LLC lifted its position in Rio Tinto Group by 350.0% during the first quarter. Strengthening Families & Communities LLC now owns 225 shares of the mining company’s stock valued at $3,442,000 after buying an additional 175 shares during the period. Allworth Financial LP increased its holdings in shares of Rio Tinto Group by 66.8% during the second quarter. Allworth Financial LP now owns 397 shares of the mining company’s stock valued at $25,000 after acquiring an additional 159 shares in the last quarter. First Manhattan Co. increased its holdings in shares of Rio Tinto Group by 555.4% during the fourth quarter. First Manhattan Co. now owns 426 shares of the mining company’s stock valued at $30,000 after acquiring an additional 361 shares in the last quarter. Larson Financial Group LLC increased its holdings in shares of Rio Tinto Group by 297.2% during the first quarter. Larson Financial Group LLC now owns 433 shares of the mining company’s stock valued at $30,000 after acquiring an additional 324 shares in the last quarter. Finally, Spotlight Asset Group Inc. bought a new position in shares of Rio Tinto Group during the second quarter valued at $32,000. Hedge funds and other institutional investors own 10.03% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. UBS Group upgraded Rio Tinto Group from a “sell” rating to a “neutral” rating in a report on Thursday, October 5th. StockNews.com downgraded Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a report on Friday, November 10th. Barclays upgraded Rio Tinto Group from an “equal weight” rating to an “overweight” rating in a report on Tuesday, October 24th. Finally, JPMorgan Chase & Co. upgraded Rio Tinto Group from a “neutral” rating to an “overweight” rating in a report on Wednesday, September 13th. Three equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $72.00.

Rio Tinto Group Trading Up 1.5 %

Shares of NYSE:RIO opened at $69.23 on Tuesday. The stock has a market capitalization of $86.62 billion, a price-to-earnings ratio of 9.90 and a beta of 0.71. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.37 and a current ratio of 1.99. The stock’s 50-day simple moving average is $64.01 and its two-hundred day simple moving average is $63.70. Rio Tinto Group has a 52-week low of $58.27 and a 52-week high of $80.51.

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. It offers aluminum, copper, iron ore, diamonds, gold, borates, titanium dioxide, salt, silver, molybdenum, and lithium. The company also owns and operates open pit and underground mines, refineries, smelters, and concentrator facilities, as well as power stations, research, and service facilities.