Cidel Asset Management Inc. Has $7.29 Million Holdings in Rio Tinto Group (NYSE:RIO)

Cidel Asset Management Inc. cut its holdings in shares of Rio Tinto Group (NYSE:RIO) by 4.1% during the 4th quarter, Holdings Channel reports. The firm owned 123,885 shares of the mining company’s stock after selling 5,318 shares during the period. Cidel Asset Management Inc.’s holdings in Rio Tinto Group were worth $7,286,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Winch Advisory Services LLC bought a new position in shares of Rio Tinto Group in the third quarter worth $26,000. FSC Wealth Advisors LLC bought a new position in Rio Tinto Group in the 3rd quarter valued at about $28,000. Thurston Springer Miller Herd & Titak Inc. increased its holdings in Rio Tinto Group by 63.9% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 500 shares of the mining company’s stock valued at $29,000 after buying an additional 195 shares during the period. Sound Income Strategies LLC raised its position in shares of Rio Tinto Group by 70.9% in the 3rd quarter. Sound Income Strategies LLC now owns 417 shares of the mining company’s stock valued at $30,000 after buying an additional 173 shares in the last quarter. Finally, Northwest Investment Counselors LLC bought a new stake in shares of Rio Tinto Group during the 3rd quarter worth approximately $38,000. 19.33% of the stock is currently owned by institutional investors and hedge funds.

Rio Tinto Group Stock Down 0.4 %

Shares of RIO opened at $61.96 on Friday. The company has a current ratio of 1.70, a quick ratio of 1.16 and a debt-to-equity ratio of 0.23. Rio Tinto Group has a 52 week low of $57.85 and a 52 week high of $74.24. The stock has a fifty day moving average of $60.73 and a 200-day moving average of $63.02.

Wall Street Analysts Forecast Growth

RIO has been the topic of a number of research analyst reports. Jefferies Financial Group reduced their target price on Rio Tinto Group from $83.00 to $73.00 and set a “buy” rating on the stock in a report on Monday, January 6th. StockNews.com cut Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a research report on Saturday, January 25th. Finally, Macquarie reissued a “neutral” rating on shares of Rio Tinto Group in a report on Wednesday, October 16th. Four equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Rio Tinto Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $73.00.

Rio Tinto Group Profile

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.