First City Capital Management Inc. Has $800,000 Stock Holdings in Rio Tinto Group (NYSE:RIO)

First City Capital Management Inc. lowered its position in Rio Tinto Group (NYSE:RIO) by 9.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 13,598 shares of the mining company’s stock after selling 1,500 shares during the quarter. First City Capital Management Inc.’s holdings in Rio Tinto Group were worth $800,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of RIO. Bank of New York Mellon Corp raised its position in Rio Tinto Group by 3.9% in the second quarter. Bank of New York Mellon Corp now owns 77,694 shares of the mining company’s stock worth $5,122,000 after purchasing an additional 2,908 shares in the last quarter. Allspring Global Investments Holdings LLC increased its holdings in shares of Rio Tinto Group by 32.4% during the second quarter. Allspring Global Investments Holdings LLC now owns 12,758 shares of the mining company’s stock worth $841,000 after buying an additional 3,120 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Rio Tinto Group by 588.0% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 860 shares of the mining company’s stock valued at $57,000 after purchasing an additional 735 shares during the last quarter. Concurrent Investment Advisors LLC bought a new position in shares of Rio Tinto Group in the second quarter worth about $269,000. Finally, Commonwealth Equity Services LLC boosted its stake in Rio Tinto Group by 12.3% in the second quarter. Commonwealth Equity Services LLC now owns 198,371 shares of the mining company’s stock valued at $13,079,000 after acquiring an additional 21,746 shares during the last quarter. Institutional investors and hedge funds own 19.33% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. StockNews.com downgraded Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a report on Tuesday, November 12th. Macquarie reissued a “neutral” rating on shares of Rio Tinto Group in a research note on Wednesday, October 16th. 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 equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Rio Tinto Group has a consensus rating of “Moderate Buy”.

Rio Tinto Group Price Performance

RIO stock traded down $0.10 during mid-day trading on Friday, hitting $58.67. The stock had a trading volume of 1,431,065 shares, compared to its average volume of 1,590,427. Rio Tinto Group has a 52 week low of $58.19 and a 52 week high of $74.24. The firm has a fifty day simple moving average of $62.37 and a 200 day simple moving average of $64.11. The company has a current ratio of 1.70, a quick ratio of 1.16 and a debt-to-equity ratio of 0.23. The firm has a market capitalization of $73.51 billion, a P/E ratio of 8.52, a P/E/G ratio of 0.38 and a beta of 0.65.

Rio Tinto Group 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.