FCG Investment Co Buys 8,594 Shares of Rio Tinto Group (NYSE:RIO)

FCG Investment Co grew its holdings in Rio Tinto Group (NYSE:RIO - Free Report) by 42.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,845 shares of the mining company's stock after purchasing an additional 8,594 shares during the quarter. Rio Tinto Group comprises approximately 1.3% of FCG Investment Co's portfolio, making the stock its 22nd largest holding. FCG Investment Co's holdings in Rio Tinto Group were worth $2,053,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Founders Financial Securities LLC acquired a new stake in Rio Tinto Group during the first quarter worth about $633,000. Allspring Global Investments Holdings LLC boosted its position in shares of Rio Tinto Group by 54.9% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 9,638 shares of the mining company's stock valued at $614,000 after purchasing an additional 3,414 shares during the period. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH lifted its stake in shares of Rio Tinto Group by 22.7% in the first quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 978,859 shares of the mining company's stock worth $62,392,000 after buying an additional 180,874 shares during the last quarter. Naviter Wealth LLC lifted its position in shares of Rio Tinto Group by 14.6% in the 1st quarter. Naviter Wealth LLC now owns 24,593 shares of the mining company's stock worth $1,629,000 after purchasing an additional 3,134 shares during the period. Finally, Requisite Capital Management LLC boosted its holdings in Rio Tinto Group by 25.4% in the first quarter. Requisite Capital Management LLC now owns 7,217 shares of the mining company's stock valued at $479,000 after purchasing an additional 1,461 shares during the last quarter. Institutional investors own 19.33% of the company's stock.

Rio Tinto Group Trading Up 1.4 %

Shares of RIO stock traded up $0.90 on Monday, hitting $66.18. The stock had a trading volume of 1,705,997 shares, compared to its average volume of 2,765,801. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.70 and a quick ratio of 1.16. Rio Tinto Group has a 1 year low of $59.35 and a 1 year high of $75.09. The company's 50 day moving average price is $64.89 and its 200-day moving average price is $66.35.

Rio Tinto Group Cuts Dividend

The business also recently declared a semi-annual dividend, which was paid on Thursday, September 26th. Stockholders of record on Friday, August 16th were given a dividend of $1.77 per share. This represents a dividend yield of 6.8%. The ex-dividend date was Friday, August 16th.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. Hsbc Global Res upgraded Rio Tinto Group to a "strong-buy" rating in a research report on Tuesday, July 23rd. Berenberg Bank upgraded Rio Tinto Group from a "hold" rating to a "buy" rating in a research note on Wednesday, October 2nd. HSBC upgraded shares of Rio Tinto Group from a "hold" rating to a "buy" rating in a research report on Tuesday, July 23rd. StockNews.com upgraded Rio Tinto Group from a "buy" rating to a "strong-buy" rating in a research report on Friday, September 6th. Finally, Macquarie restated a "neutral" rating on shares of Rio Tinto Group in a research report on Wednesday, October 16th. Four investment analysts have rated the stock with a hold rating, four have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, Rio Tinto Group presently has an average rating of "Moderate Buy".

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.