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

Cohen Investment Advisors LLC cut its position in Rio Tinto Group (NYSE:RIO) by 7.8% in the 1st quarter, Holdings Channel.com reports. The firm 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 quarter.

A number of other hedge funds have also recently made changes to their positions in RIO. Wellington Management Group LLP raised its holdings in Rio Tinto Group by 41.0% in the 3rd quarter. Wellington Management Group LLP now owns 23,193,773 shares of the mining company’s stock valued at $1,476,052,000 after buying an additional 6,748,799 shares during the last quarter. SPX Gestao de Recursos Ltda raised its stake in shares of Rio Tinto Group by 560.8% during the fourth quarter. SPX Gestao de Recursos Ltda now owns 791,933 shares of the mining company’s stock valued at $58,967,000 after acquiring an additional 672,095 shares during the last quarter. Fisher Asset Management LLC lifted its holdings in shares of Rio Tinto Group by 3.1% during the fourth quarter. Fisher Asset Management LLC now owns 16,045,541 shares of the mining company’s stock worth $1,194,751,000 after purchasing an additional 475,329 shares during the period. Van ECK Associates Corp grew its stake in shares of Rio Tinto Group by 191.3% in the fourth quarter. Van ECK Associates Corp now owns 715,829 shares of the mining company’s stock worth $53,301,000 after purchasing an additional 470,073 shares during the last quarter. Finally, MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH increased its holdings in Rio Tinto Group by 22.7% in the first quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 978,859 shares of the mining company’s stock valued at $62,392,000 after purchasing an additional 180,874 shares during the period. 19.33% of the stock is owned by institutional investors and hedge funds.

Rio Tinto Group Stock Performance

Shares of RIO stock traded up $1.89 during mid-day trading on Thursday, hitting $67.90. The company’s stock had a trading volume of 2,029,388 shares, compared to its average volume of 1,683,984. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.17 and a current ratio of 1.69. The company’s fifty day simple moving average is $68.78 and its 200-day simple moving average is $68.02. Rio Tinto Group has a 52 week low of $58.27 and a 52 week high of $75.09.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. StockNews.com raised Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a report on Tuesday, May 21st. Citigroup lowered Rio Tinto Group from a “buy” rating to a “neutral” rating in a research note on Monday, May 20th. Finally, Berenberg Bank downgraded shares of Rio Tinto Group from a “buy” rating to a “hold” rating in a research report on Thursday, June 27th. Four investment 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.com, the stock currently has a consensus rating of “Moderate Buy”.

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.