FCG Investment Co Has $853,000 Stock Holdings in Rio Tinto PLC $RIO

Key Points

• FCG Investment Co reduced its stake in Rio Tinto PLC by 36.9%, selling 8,290 shares and ending the quarter with 14,204 shares valued at approximately $853,000.
• The company announced a semi-annual dividend of $1.48, with an impressive yield of 620.0%, and has a dividend payout ratio of 69.15%.
• Wall Street analysts have mixed ratings on Rio Tinto, with a consensus average rating of "Moderate Buy" and a target price of $73.00.

FCG Investment Co cut its stake in Rio Tinto PLC (NYSE:RIO - Free Report) by 36.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 14,204 shares of the mining company's stock after selling 8,290 shares during the period. FCG Investment Co's holdings in Rio Tinto were worth $853,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Alpine Bank Wealth Management acquired a new position in shares of Rio Tinto during the 1st quarter worth about $30,000. Wayfinding Financial LLC bought a new stake in Rio Tinto during the first quarter worth $30,000. Pandora Wealth Inc. acquired a new stake in Rio Tinto in the first quarter valued at $30,000. Bfsg LLC lifted its stake in Rio Tinto by 5,754.5% in the first quarter. Bfsg LLC now owns 644 shares of the mining company's stock valued at $39,000 after acquiring an additional 633 shares during the last quarter. Finally, Ameriflex Group Inc. bought a new position in shares of Rio Tinto in the 4th quarter valued at about $47,000. Institutional investors and hedge funds own 19.33% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on RIO. Barclays restated an "overweight" rating on shares of Rio Tinto in a research note on Wednesday, July 2nd. Deutsche Bank Aktiengesellschaft lowered shares of Rio Tinto from a "buy" rating to a "hold" rating in a research note on Wednesday, July 30th. Wall Street Zen cut shares of Rio Tinto from a "strong-buy" rating to a "buy" rating in a research report on Monday, April 28th. Jefferies Financial Group restated a "hold" rating on shares of Rio Tinto in a research note on Tuesday, June 3rd. Finally, Berenberg Bank reaffirmed a "hold" rating on shares of Rio Tinto in a research report on Thursday, July 3rd. Two analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Rio Tinto has a consensus rating of "Moderate Buy" and a consensus target price of $73.00.

Rio Tinto Price Performance

Shares of NYSE RIO traded up $0.0110 during trading hours on Wednesday, hitting $60.6010. 3,437,282 shares of the stock were exchanged, compared to its average volume of 3,362,593. Rio Tinto PLC has a 1-year low of $51.67 and a 1-year high of $72.08. The company's fifty day simple moving average is $59.92 and its two-hundred day simple moving average is $60.34. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.03 and a current ratio of 1.53. The company has a market cap of $76.00 billion, a PE ratio of 9.40 and a beta of 0.64.

Rio Tinto Cuts Dividend

The business also recently declared a semi-annual dividend, which will be paid on Thursday, September 25th. Investors of record on Friday, August 15th will be issued a dividend of $1.48 per share. The ex-dividend date of this dividend is Friday, August 15th. This represents a dividend yield of 620.0%. Rio Tinto's 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.