Hennion & Walsh Asset Management Inc. Sells 6,967 Shares of Rio Tinto Group (NYSE:RIO)

Hennion & Walsh Asset Management Inc. lessened its stake in shares of Rio Tinto Group (NYSE:RIO - Free Report) by 31.2% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 15,369 shares of the mining company's stock after selling 6,967 shares during the period. Hennion & Walsh Asset Management Inc.'s holdings in Rio Tinto Group were worth $904,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Winch Advisory Services LLC purchased a new position in shares of Rio Tinto Group in the third quarter worth approximately $26,000. FSC Wealth Advisors LLC acquired a new position in Rio Tinto Group in the 3rd quarter worth approximately $28,000. Sound Income Strategies LLC grew its position in Rio Tinto Group by 70.9% during the 3rd quarter. Sound Income Strategies LLC now owns 417 shares of the mining company's stock worth $30,000 after purchasing an additional 173 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. lifted its holdings in shares of Rio Tinto Group by 63.9% in the fourth 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. Finally, Northwest Investment Counselors LLC purchased a new stake in shares of Rio Tinto Group in the third quarter valued at $38,000. 19.33% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. Jefferies Financial Group dropped their price target on Rio Tinto Group from $83.00 to $73.00 and set a "buy" rating on the stock in a research report on Monday, January 6th. StockNews.com raised shares of Rio Tinto Group from a "buy" rating to a "strong-buy" rating in a research report on Friday. Berenberg Bank raised shares of Rio Tinto Group from a "hold" rating to a "buy" rating in a research report on Wednesday, October 2nd. Finally, Macquarie reiterated a "neutral" rating on shares of Rio Tinto Group in a research report on Wednesday, October 16th. Four analysts have rated the stock with a hold rating, three have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $73.00.

Rio Tinto Group Stock Up 2.0 %

NYSE:RIO traded up $1.21 during mid-day trading on Monday, reaching $61.00. The stock had a trading volume of 4,696,896 shares, compared to its average volume of 2,271,512. The business's 50 day moving average is $60.98 and its 200 day moving average is $63.53. The company has a current ratio of 1.70, a quick ratio of 1.16 and a debt-to-equity ratio of 0.23. Rio Tinto Group has a fifty-two week low of $57.85 and a fifty-two week high of $74.24.

About Rio Tinto Group

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.