Cohen Investment Advisors LLC Increases Stock Holdings in Rio Tinto Group (NYSE:RIO)

Cohen Investment Advisors LLC raised its position in shares of Rio Tinto Group (NYSE:RIO) by 3.8% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 5,352 shares of the mining company’s stock after acquiring an additional 198 shares during the quarter. Cohen Investment Advisors LLC’s holdings in Rio Tinto Group were worth $315,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in RIO. Winch Advisory Services LLC purchased a new position in shares of Rio Tinto Group during the third quarter valued at approximately $26,000. FSC Wealth Advisors LLC bought a new position in shares of Rio Tinto Group in the third quarter worth approximately $28,000. Sound Income Strategies LLC grew its holdings in shares of Rio Tinto Group by 70.9% during the third 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 during the last quarter. Thurston Springer Miller Herd & Titak Inc. increased its position in shares of Rio Tinto Group by 63.9% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 500 shares of the mining company’s stock valued at $29,000 after acquiring an additional 195 shares in the last quarter. Finally, Northwest Investment Counselors LLC purchased a new position in Rio Tinto Group in the 3rd quarter worth approximately $38,000. 19.33% of the stock is owned by hedge funds and other institutional investors.

Rio Tinto Group Stock Down 1.3 %

Shares of NYSE RIO opened at $59.68 on Friday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.16 and a current ratio of 1.70. Rio Tinto Group has a 12-month low of $57.85 and a 12-month high of $74.24. The firm has a 50 day moving average of $61.20 and a 200 day moving average of $63.64.

Wall Street Analysts Forecast Growth

A number of research firms have commented on RIO. Macquarie reissued a “neutral” rating on shares of Rio Tinto Group in a report on Wednesday, October 16th. Berenberg Bank raised Rio Tinto Group from a “hold” rating to a “buy” rating in a research report on Wednesday, October 2nd. Jefferies Financial Group dropped their price target on shares of Rio Tinto Group from $83.00 to $73.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Finally, StockNews.com downgraded shares of Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, November 12th. Four analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average 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.