FSC Wealth Advisors LLC Invests $28,000 in Rio Tinto Group (NYSE:RIO)

FSC Wealth Advisors LLC acquired a new stake in Rio Tinto Group (NYSE:RIO) in the 3rd quarter, HoldingsChannel reports. The institutional investor acquired 400 shares of the mining company’s stock, valued at approximately $28,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Russell Investments Group Ltd. lifted its stake in shares of Rio Tinto Group by 0.4% in the first quarter. Russell Investments Group Ltd. now owns 39,964 shares of the mining company’s stock worth $2,547,000 after buying an additional 147 shares in the last quarter. Geneos Wealth Management Inc. raised its holdings in Rio Tinto Group by 55.4% in the 1st quarter. Geneos Wealth Management Inc. now owns 415 shares of the mining company’s stock valued at $26,000 after acquiring an additional 148 shares during the last quarter. Optas LLC lifted its stake in Rio Tinto Group by 4.2% in the 1st quarter. Optas LLC now owns 3,833 shares of the mining company’s stock worth $244,000 after purchasing an additional 154 shares in the last quarter. Armstrong Advisory Group Inc. boosted its holdings in shares of Rio Tinto Group by 9.6% during the 3rd quarter. Armstrong Advisory Group Inc. now owns 1,808 shares of the mining company’s stock worth $129,000 after purchasing an additional 159 shares during the last quarter. Finally, Eagle Bluffs Wealth Management LLC grew its position in shares of Rio Tinto Group by 1.1% in the second quarter. Eagle Bluffs Wealth Management LLC now owns 14,997 shares of the mining company’s stock valued at $989,000 after purchasing an additional 163 shares in the last quarter. Hedge funds and other institutional investors own 19.33% of the company’s stock.

Rio Tinto Group Stock Performance

NYSE RIO opened at $65.48 on Wednesday. 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 firm’s 50-day moving average is $64.73 and its two-hundred day moving average is $66.38. Rio Tinto Group has a 12 month low of $59.35 and a 12 month high of $75.09.

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 paid a $1.77 dividend. This represents a dividend yield of 6.8%. The ex-dividend date was Friday, August 16th.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on RIO shares. Royal Bank of Canada raised Rio Tinto Group to a “hold” rating in a research note on Wednesday, July 31st. Macquarie reissued a “neutral” rating on shares of Rio Tinto Group in a report on Wednesday, October 16th. StockNews.com raised shares of Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a research note on Friday, September 6th. HSBC upgraded shares of Rio Tinto Group from a “hold” rating to a “buy” rating in a report on Tuesday, July 23rd. Finally, Berenberg Bank upgraded shares of Rio Tinto Group from a “hold” rating to a “buy” rating in a report on Wednesday, October 2nd. Four investment analysts have rated the stock with a hold rating, five have given a buy rating and two have issued 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”.

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.