FCG Investment Co Sells 10,254 Shares of Rio Tinto PLC $RIO

Key Points

• FCG Investment Co sold 10,254 shares of Rio Tinto PLC, reducing its stake by 72.2% in the second quarter, leaving it with 3,950 shares valued at approximately $230,000.
• Despite recent sales, Rio Tinto has received a consensus rating of "Moderate Buy" from various analysts with an average target price of $73.00.
• The company announced a semi-annual dividend of $1.48 with a yield of 620.0%, as it continues to explore, mine, and process mineral resources globally.

FCG Investment Co decreased its stake in shares of Rio Tinto PLC (NYSE:RIO - Free Report) by 72.2% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 3,950 shares of the mining company's stock after selling 10,254 shares during the quarter. FCG Investment Co's holdings in Rio Tinto were worth $230,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of RIO. Wayfinding Financial LLC bought a new position in shares of Rio Tinto during the 1st quarter valued at about $30,000. Pandora Wealth Inc. bought a new position in Rio Tinto during the first quarter valued at approximately $30,000. Alpine Bank Wealth Management purchased a new position in Rio Tinto during the 1st quarter valued at approximately $30,000. Bfsg LLC grew its holdings in Rio Tinto by 5,754.5% during the 1st quarter. Bfsg LLC now owns 644 shares of the mining company's stock valued at $39,000 after buying an additional 633 shares in the last quarter. Finally, Ameriflex Group Inc. bought a new stake in Rio Tinto in the 4th quarter worth approximately $47,000. 19.33% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on RIO shares. Barclays reiterated an "overweight" rating on shares of Rio Tinto in a research report on Wednesday, July 2nd. Jefferies Financial Group reiterated a "hold" rating on shares of Rio Tinto in a research report on Tuesday, June 3rd. Berenberg Bank restated a "hold" rating on shares of Rio Tinto in a report on Thursday, July 3rd. Morgan Stanley reaffirmed an "overweight" rating on shares of Rio Tinto in a report on Monday, July 14th. Finally, Deutsche Bank Aktiengesellschaft cut Rio Tinto from a "buy" rating to a "hold" rating in a research note on Wednesday, July 30th. Two investment analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat.com, Rio Tinto presently has a consensus rating of "Moderate Buy" and an average target price of $73.00.

Rio Tinto Stock Up 2.5%

Shares of NYSE:RIO opened at $65.47 on Friday. The firm has a market capitalization of $82.10 billion, a PE ratio of 10.15 and a beta of 0.66. The business has a 50 day simple moving average of $62.23 and a two-hundred day simple moving average of $60.43. Rio Tinto PLC has a 1 year low of $51.67 and a 1 year high of $72.08. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.53 and a quick ratio of 1.03.

Rio Tinto Cuts Dividend

The firm also recently disclosed a semi-annual dividend, which was paid on Thursday, September 25th. Shareholders of record on Friday, August 15th were given a $1.48 dividend. This represents a yield of 620.0%. The ex-dividend date of this dividend was Friday, August 15th. Rio Tinto's dividend payout ratio is 45.74%.

Rio Tinto 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.

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