Rio Tinto Group (NYSE:RIO) Shares Sold by FCG Investment Co

FCG Investment Co lessened its stake in Rio Tinto Group (NYSE:RIO) by 22.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund 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 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Armstrong Advisory Group Inc. boosted its holdings in Rio Tinto Group by 9.6% in the 3rd quarter. Armstrong Advisory Group Inc. now owns 1,808 shares of the mining company’s stock valued at $129,000 after purchasing an additional 159 shares during the last quarter. Sound Income Strategies LLC lifted its holdings in Rio Tinto Group by 70.9% in the third quarter. Sound Income Strategies LLC now owns 417 shares of the mining company’s stock valued at $30,000 after acquiring an additional 173 shares during the last quarter. Concurrent Investment Advisors LLC grew its position in Rio Tinto Group by 4.3% in the third quarter. Concurrent Investment Advisors LLC now owns 4,261 shares of the mining company’s stock worth $303,000 after acquiring an additional 175 shares during the period. Fiduciary Financial Group LLC increased its stake in Rio Tinto Group by 3.7% during the third quarter. Fiduciary Financial Group LLC now owns 4,945 shares of the mining company’s stock worth $330,000 after acquiring an additional 178 shares during the last quarter. Finally, Stonegate Investment Group LLC increased its stake in Rio Tinto Group by 3.4% during the third quarter. Stonegate Investment Group LLC now owns 5,467 shares of the mining company’s stock worth $389,000 after acquiring an additional 179 shares during the last quarter. Institutional investors and hedge funds own 19.33% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on RIO. Jefferies Financial Group lowered their price target on Rio Tinto Group from $83.00 to $73.00 and set a “buy” rating for the company in a report on Monday, January 6th. Berenberg Bank raised shares of Rio Tinto Group from a “hold” rating to a “buy” rating in a research note on Wednesday, October 2nd. StockNews.com raised shares of Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a research note on Friday, January 17th. Finally, Macquarie restated a “neutral” rating on shares of Rio Tinto Group in a report on Wednesday, October 16th. Four investment analysts have rated the stock with a hold rating, three have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $73.00.

Rio Tinto Group Price Performance

NYSE RIO opened at $61.56 on Friday. Rio Tinto Group has a 1-year low of $57.85 and a 1-year high of $74.24. The company has a quick ratio of 1.16, a current ratio of 1.70 and a debt-to-equity ratio of 0.23. The stock has a 50-day moving average of $60.97 and a two-hundred day moving average of $63.42.

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.