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

Cidel Asset Management Inc. lessened its stake in Rio Tinto Group (NYSE:RIO) by 4.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 123,885 shares of the mining company’s stock after selling 5,318 shares during the quarter. Cidel Asset Management Inc.’s holdings in Rio Tinto Group were worth $7,286,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Golden State Wealth Management LLC acquired a new stake in Rio Tinto Group in the fourth quarter valued at $47,000. Ameliora Wealth Management Ltd. lifted its stake in Rio Tinto Group by 567.2% in the 4th quarter. Ameliora Wealth Management Ltd. now owns 12,010 shares of the mining company’s stock valued at $706,000 after purchasing an additional 10,210 shares during the last quarter. Tandem Financial LLC acquired a new stake in Rio Tinto Group in the 4th quarter valued at about $267,000. Strategic Financial Concepts LLC bought a new position in Rio Tinto Group during the fourth quarter worth about $816,000. Finally, Financial Advocates Investment Management acquired a new position in Rio Tinto Group during the fourth quarter worth approximately $567,000. 19.33% of the stock is owned by institutional investors.

Rio Tinto Group Trading Down 0.4 %

Shares of NYSE RIO opened at $61.96 on Friday. The business’s 50 day moving average is $60.73 and its 200-day moving average is $63.02. Rio Tinto Group has a 1-year low of $57.85 and a 1-year high of $74.24. The company has a current ratio of 1.70, a quick ratio of 1.16 and a debt-to-equity ratio of 0.23.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. StockNews.com cut Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a research report on Saturday, January 25th. Jefferies Financial Group cut their price target on Rio Tinto Group from $83.00 to $73.00 and set a “buy” rating for the company in a report on Monday, January 6th. Finally, Macquarie reaffirmed a “neutral” rating on shares of Rio Tinto Group in a research report on Wednesday, October 16th. Four investment analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $73.00.

Rio Tinto Group Company 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.