Ambassador Advisors LLC Sells 1,716 Shares of Rio Tinto Group (NYSE:RIO)

Ambassador Advisors LLC cut its holdings in Rio Tinto Group (NYSE:RIO – Get Rating) by 28.8% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 4,245 shares of the mining company’s stock after selling 1,716 shares during the quarter. Ambassador Advisors LLC’s holdings in Rio Tinto Group were worth $234,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of RIO. Twin Lakes Capital Management LLC acquired a new stake in Rio Tinto Group in the third quarter worth $28,000. Ronald Blue Trust Inc. acquired a new stake in shares of Rio Tinto Group during the second quarter worth $50,000. Householder Group Estate & Retirement Specialist LLC acquired a new stake in shares of Rio Tinto Group during the third quarter worth $36,000. Standard Family Office LLC acquired a new stake in shares of Rio Tinto Group during the third quarter worth $37,000. Finally, Western Pacific Wealth Management LP acquired a new stake in shares of Rio Tinto Group during the third quarter worth $36,000. 10.43% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Rio Tinto Group from GBX 5,800 ($70.69) to GBX 6,200 ($75.56) in a report on Tuesday, January 10th. JPMorgan Chase & Co. lifted their price target on shares of Rio Tinto Group from GBX 5,310 ($64.72) to GBX 5,380 ($65.57) in a research note on Wednesday, January 18th. UBS Group lowered shares of Rio Tinto Group from a “neutral” rating to a “sell” rating in a research note on Tuesday, December 13th. CLSA upgraded shares of Rio Tinto Group from an “underperform” rating to an “outperform” rating in a research note on Monday. Finally, Berenberg Bank upgraded shares of Rio Tinto Group from a “sell” rating to a “buy” rating in a research note on Thursday, January 12th. Three analysts have rated the stock with a sell rating, six have given a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $5,790.00.

Rio Tinto Group Trading Down 5.1 %

NYSE RIO opened at $65.87 on Thursday. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.64 and a quick ratio of 1.10. Rio Tinto Group has a 12-month low of $50.92 and a 12-month high of $83.21. The firm has a 50-day moving average price of $74.36 and a two-hundred day moving average price of $65.78.

Rio Tinto Group Cuts Dividend

The company also recently announced a semi-annual dividend, which will be paid on Thursday, April 20th. Stockholders of record on Friday, March 10th will be given a $2.25 dividend. This represents a dividend yield of 9.8%. The ex-dividend date of this dividend is Thursday, March 9th.

Rio Tinto Group Company Profile

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Rio Tinto Plc engages in the exploration, mining, and processing of mineral resources. It operates through the following business segments: Iron Ore, Aluminium, Copper and Diamonds, Energy and Minerals, and Other Operations. The Iron Ore segment supplies global seaborne iron ore trade. The Aluminium segment produces bauxite, alumina and primary aluminum.