Hennion & Walsh Asset Management Inc. Sells 4,316 Shares of Rio Tinto Group (NYSE:RIO)

Hennion & Walsh Asset Management Inc. lowered its position in Rio Tinto Group (NYSE:RIO) by 15.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 23,498 shares of the mining company’s stock after selling 4,316 shares during the period. Hennion & Walsh Asset Management Inc.’s holdings in Rio Tinto Group were worth $1,498,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Astoria Portfolio Advisors LLC. lifted its stake in shares of Rio Tinto Group by 18.8% in the first quarter. Astoria Portfolio Advisors LLC. now owns 7,634 shares of the mining company’s stock valued at $510,000 after buying an additional 1,209 shares in the last quarter. Ameliora Wealth Management Ltd. purchased a new position in shares of Rio Tinto Group during the first quarter valued at approximately $115,000. Addenda Capital Inc. grew its holdings in Rio Tinto Group by 27.7% during the first quarter. Addenda Capital Inc. now owns 100,677 shares of the mining company’s stock worth $6,620,000 after buying an additional 21,864 shares in the last quarter. Courier Capital LLC raised its position in Rio Tinto Group by 109.6% in the 1st quarter. Courier Capital LLC now owns 13,300 shares of the mining company’s stock valued at $848,000 after buying an additional 6,956 shares during the last quarter. Finally, 180 Wealth Advisors LLC lifted its stake in Rio Tinto Group by 6.1% during the 1st quarter. 180 Wealth Advisors LLC now owns 6,302 shares of the mining company’s stock valued at $402,000 after acquiring an additional 363 shares in the last quarter. Institutional investors and hedge funds own 19.33% of the company’s stock.

Rio Tinto Group Price Performance

RIO opened at $65.93 on Friday. The company’s 50-day moving average price is $68.81 and its two-hundred day moving average price is $68.12. The company has a current ratio of 1.69, a quick ratio of 1.17 and a debt-to-equity ratio of 0.23. Rio Tinto Group has a twelve month low of $58.27 and a twelve month high of $75.09.

Wall Street Analyst Weigh In

Several analysts have recently commented on RIO shares. StockNews.com upgraded shares of Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a report on Tuesday, May 21st. Liberum Capital reissued a “hold” rating on shares of Rio Tinto Group in a research report on Tuesday, March 5th. Berenberg Bank lowered Rio Tinto Group from a “buy” rating to a “hold” rating in a report on Thursday. Finally, Citigroup downgraded Rio Tinto Group from a “buy” rating to a “neutral” rating in a research report on Monday, May 20th. Four investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy”.

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.