Cohen Investment Advisors LLC Has $291,000 Position in Rio Tinto PLC $RIO

Cohen Investment Advisors LLC reduced its position in shares of Rio Tinto PLC (NYSE:RIO) by 7.9% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 4,982 shares of the mining company’s stock after selling 427 shares during the quarter. Cohen Investment Advisors LLC’s holdings in Rio Tinto were worth $291,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of RIO. Aspen Wealth Strategies LLC raised its stake in Rio Tinto by 3.7% in the first quarter. Aspen Wealth Strategies LLC now owns 4,810 shares of the mining company’s stock valued at $289,000 after buying an additional 172 shares during the period. Hamilton Point Investment Advisors LLC raised its stake in Rio Tinto by 0.4% in the first quarter. Hamilton Point Investment Advisors LLC now owns 44,385 shares of the mining company’s stock valued at $2,767,000 after buying an additional 194 shares during the period. Quintet Private Bank Europe S.A. raised its stake in Rio Tinto by 10.0% in the first quarter. Quintet Private Bank Europe S.A. now owns 2,200 shares of the mining company’s stock valued at $132,000 after buying an additional 200 shares during the period. Gallacher Capital Management LLC raised its stake in Rio Tinto by 3.6% in the first quarter. Gallacher Capital Management LLC now owns 5,740 shares of the mining company’s stock valued at $345,000 after buying an additional 201 shares during the period. Finally, Stonegate Investment Group LLC raised its stake in Rio Tinto by 3.0% in the first quarter. Stonegate Investment Group LLC now owns 7,025 shares of the mining company’s stock valued at $422,000 after buying an additional 206 shares during the period. 19.33% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Berenberg Bank reiterated a “hold” rating on shares of Rio Tinto in a research note on Thursday, July 3rd. Morgan Stanley reiterated an “overweight” rating on shares of Rio Tinto in a research note on Wednesday. Zacks Research upgraded Rio Tinto from a “hold” rating to a “strong-buy” rating in a research note on Monday. Deutsche Bank Aktiengesellschaft lowered Rio Tinto from a “buy” rating to a “hold” rating in a research note on Wednesday, July 30th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Rio Tinto in a research note on Wednesday. Three investment analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Rio Tinto currently has a consensus rating of “Moderate Buy” and an average price target of $73.00.

Rio Tinto Trading Up 2.1%

Shares of NYSE:RIO opened at $67.66 on Thursday. The company has a market capitalization of $84.86 billion, a P/E ratio of 10.49, a P/E/G ratio of 4.65 and a beta of 0.66. Rio Tinto PLC has a 1 year low of $51.67 and a 1 year high of $68.18. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.53 and a quick ratio of 1.03. The business’s 50 day simple moving average is $62.90 and its 200 day simple moving average is $60.65.

Rio Tinto Cuts Dividend

The business also recently declared a semi-annual dividend, which was paid on Thursday, September 25th. Investors of record on Friday, August 15th were given a dividend of $1.48 per share. The ex-dividend date of this dividend was Friday, August 15th. This represents a yield of 620.0%. Rio Tinto’s dividend payout ratio is currently 45.74%.

Rio Tinto 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.