FCG Investment Co Decreases Stock Position in Rio Tinto Group (NYSE:RIO)

FCG Investment Co decreased its stake in shares of Rio Tinto Group (NYSE:RIO) by 22.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 22,494 shares of the mining company’s stock after selling 6,351 shares during the quarter. FCG Investment Co’s holdings in Rio Tinto Group were worth $1,323,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Winch Advisory Services LLC acquired a new position in shares of Rio Tinto Group during the third quarter worth about $26,000. FSC Wealth Advisors LLC purchased a new position in Rio Tinto Group in the third quarter worth approximately $28,000. Thurston Springer Miller Herd & Titak Inc. grew its holdings in Rio Tinto Group by 63.9% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 500 shares of the mining company’s stock worth $29,000 after acquiring an additional 195 shares in the last quarter. Sound Income Strategies LLC increased its position in shares of Rio Tinto Group by 70.9% in the 3rd quarter. Sound Income Strategies LLC now owns 417 shares of the mining company’s stock valued at $30,000 after purchasing an additional 173 shares during the last quarter. Finally, Northwest Investment Counselors LLC acquired a new stake in shares of Rio Tinto Group in the 3rd quarter valued at $38,000. Institutional investors and hedge funds own 19.33% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on RIO shares. Jefferies Financial Group lowered their price objective on Rio Tinto Group from $83.00 to $73.00 and set a “buy” rating for the company in a research report on Monday, January 6th. StockNews.com raised Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a report on Friday, January 17th. Macquarie reissued a “neutral” rating on shares of Rio Tinto Group in a report on Wednesday, October 16th. Finally, Berenberg Bank upgraded shares of Rio Tinto Group from a “hold” rating to a “buy” rating in a research report on Wednesday, October 2nd. Four research analysts have rated the stock with a hold rating, three have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Rio Tinto Group currently has an average rating of “Moderate Buy” and a consensus price target of $73.00.

Rio Tinto Group Price Performance

Shares of RIO opened at $61.56 on Friday. The firm’s 50-day moving average is $60.97 and its two-hundred day moving average is $63.42. Rio Tinto Group has a twelve month low of $57.85 and a twelve month high of $74.24. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.16 and a current ratio of 1.70.

Rio Tinto Group 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.