Montag A & Associates Inc. Lowers Holdings in Rio Tinto Group (NYSE:RIO)

Montag A & Associates Inc. reduced its holdings in shares of Rio Tinto Group (NYSE:RIO) by 2.5% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 63,868 shares of the mining company’s stock after selling 1,610 shares during the period. Montag A & Associates Inc.’s holdings in Rio Tinto Group were worth $3,756,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Concurrent Investment Advisors LLC increased its position in shares of Rio Tinto Group by 4.3% during the third quarter. Concurrent Investment Advisors LLC now owns 4,261 shares of the mining company’s stock worth $303,000 after acquiring an additional 175 shares during the period. Stonegate Investment Group LLC increased its holdings in Rio Tinto Group by 3.4% during the 3rd quarter. Stonegate Investment Group LLC now owns 5,467 shares of the mining company’s stock worth $389,000 after purchasing an additional 179 shares during the period. Thurston Springer Miller Herd & Titak Inc. raised its position 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 purchasing an additional 195 shares in the last quarter. Cohen Investment Advisors LLC boosted its stake in shares of Rio Tinto Group by 3.8% in the 4th quarter. Cohen Investment Advisors LLC now owns 5,352 shares of the mining company’s stock valued at $315,000 after buying an additional 198 shares during the period. Finally, Mount Yale Investment Advisors LLC grew its position in shares of Rio Tinto Group by 2.0% during the fourth quarter. Mount Yale Investment Advisors LLC now owns 10,191 shares of the mining company’s stock worth $599,000 after buying an additional 200 shares in the last quarter. 19.33% of the stock is currently owned by institutional investors and hedge funds.

Rio Tinto Group Trading Up 0.1 %

RIO stock opened at $63.38 on Friday. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.70 and a quick ratio of 1.16. Rio Tinto Group has a twelve month low of $57.85 and a twelve month high of $74.24. The company’s 50 day moving average is $60.65 and its two-hundred day moving average is $62.94.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on RIO shares. StockNews.com upgraded shares of Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a research note on Friday. Jefferies Financial Group lowered their target price on shares of Rio Tinto Group from $83.00 to $73.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Four analysts have rated the stock with a hold rating, three have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, Rio Tinto Group 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.