Cohen Investment Advisors LLC Has $300,000 Holdings in Rio Tinto Group (NYSE:RIO)

Cohen Investment Advisors LLC trimmed its stake in shares of Rio Tinto Group (NYSE:RIO) by 7.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,705 shares of the mining company’s stock after selling 399 shares during the period. Cohen Investment Advisors LLC’s holdings in Rio Tinto Group were worth $300,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of RIO. Northwest Investment Counselors LLC bought a new position in Rio Tinto Group in the 1st quarter valued at $26,000. AdvisorNet Financial Inc increased its position in Rio Tinto Group by 785.7% in the fourth quarter. AdvisorNet Financial Inc now owns 372 shares of the mining company’s stock worth $28,000 after purchasing an additional 330 shares during the period. Parkside Financial Bank & Trust raised its holdings in Rio Tinto Group by 39.3% during the 4th quarter. Parkside Financial Bank & Trust now owns 553 shares of the mining company’s stock worth $41,000 after purchasing an additional 156 shares during the last quarter. Financial Management Professionals Inc. lifted its position in Rio Tinto Group by 250.6% during the 4th quarter. Financial Management Professionals Inc. now owns 617 shares of the mining company’s stock valued at $46,000 after purchasing an additional 441 shares during the period. Finally, Bruce G. Allen Investments LLC bought a new position in shares of Rio Tinto Group in the 4th quarter valued at about $47,000. 19.33% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages recently weighed in on RIO. Berenberg Bank lowered shares of Rio Tinto Group from a “buy” rating to a “hold” rating in a report on Thursday, June 27th. Citigroup lowered Rio Tinto Group from a “buy” rating to a “neutral” rating in a research report on Monday, May 20th. Finally, StockNews.com upgraded Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a report on Tuesday, May 21st. Four analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy”.

Rio Tinto Group Stock Performance

Shares of NYSE RIO traded up $1.89 during midday trading on Thursday, reaching $67.90. 2,029,388 shares of the stock were exchanged, compared to its average volume of 1,683,984. Rio Tinto Group has a 12 month low of $58.27 and a 12 month high of $75.09. The company has a current ratio of 1.69, a quick ratio of 1.17 and a debt-to-equity ratio of 0.23. The business has a 50-day simple moving average of $68.78 and a two-hundred day simple moving average of $68.02.

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.