FCG Investment Co Has $1.26 Million Stock Position in Rio Tinto Group (NYSE:RIO)

FCG Investment Co lessened its holdings in Rio Tinto Group (NYSE:RIO) by 10.0% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 19,702 shares of the mining company’s stock after selling 2,193 shares during the quarter. FCG Investment Co’s holdings in Rio Tinto Group were worth $1,256,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of RIO. FMR LLC boosted its stake in shares of Rio Tinto Group by 12.6% in the 3rd quarter. FMR LLC now owns 381,989 shares of the mining company’s stock valued at $24,310,000 after purchasing an additional 42,684 shares in the last quarter. Rehmann Capital Advisory Group bought a new stake in shares of Rio Tinto Group during the third quarter worth $220,000. Schonfeld Strategic Advisors LLC acquired a new position in shares of Rio Tinto Group during the third quarter worth $1,865,000. Glenmede Trust Co. NA lifted its stake in shares of Rio Tinto Group by 69.3% in the 3rd quarter. Glenmede Trust Co. NA now owns 9,350 shares of the mining company’s stock valued at $595,000 after acquiring an additional 3,828 shares during the last quarter. Finally, Axxcess Wealth Management LLC acquired a new stake in shares of Rio Tinto Group during the 3rd quarter valued at $704,000. Institutional investors own 19.33% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on RIO. Berenberg Bank downgraded Rio Tinto Group from a “buy” rating to a “hold” rating in a research report on Thursday, June 27th. StockNews.com raised Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, May 21st. Finally, Citigroup downgraded shares of Rio Tinto Group from a “buy” rating to a “neutral” rating in a research report on Monday, May 20th. Four equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Rio Tinto Group currently has an average rating of “Moderate Buy”.

Rio Tinto Group Stock Performance

NYSE:RIO traded up $1.89 during trading hours on Thursday, hitting $67.90. The stock had a trading volume of 2,029,388 shares, compared to its average volume of 1,683,984. The company has a quick ratio of 1.17, a current ratio of 1.69 and a debt-to-equity ratio of 0.23. The company has a 50 day simple moving average of $68.78 and a two-hundred day simple moving average of $68.02. Rio Tinto Group has a one year low of $58.27 and a one year high of $75.09.

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.