First Trust Advisors LP raised its holdings in Rio Tinto PLC (NYSE:RIO) by 46.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 21,647 shares of the mining company’s stock after acquiring an additional 6,857 shares during the period. First Trust Advisors LP’s holdings in Rio Tinto PLC were worth $916,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors have also bought and sold shares of the business. Bank of America Corp DE grew its stake in Rio Tinto PLC by 27.8% in the first quarter. Bank of America Corp DE now owns 2,545,963 shares of the mining company’s stock valued at $103,570,000 after acquiring an additional 553,424 shares during the period. Neuberger Berman Group LLC acquired a new position in Rio Tinto PLC in the first quarter valued at about $62,865,000. Sei Investments Co. grew its stake in Rio Tinto PLC by 90.0% in the second quarter. Sei Investments Co. now owns 877,563 shares of the mining company’s stock valued at $37,129,000 after acquiring an additional 415,632 shares during the period. Teachers Retirement System of The State of Kentucky acquired a new position in Rio Tinto PLC in the first quarter valued at about $28,772,000. Finally, Bank of Montreal Can acquired a new position in Rio Tinto PLC in the second quarter valued at about $21,563,000. 6.87% of the stock is owned by hedge funds and other institutional investors.
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RIO has been the subject of a number of research analyst reports. BidaskClub cut Rio Tinto PLC from a “hold” rating to a “sell” rating in a research note on Saturday, June 17th. ValuEngine cut Rio Tinto PLC from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, June 20th. Zacks Investment Research cut Rio Tinto PLC from a “hold” rating to a “strong sell” rating in a research note on Wednesday, June 21st. Bank of America Corporation raised Rio Tinto PLC from an “underperform” rating to a “buy” rating in a research note on Friday, June 30th. Finally, Axiom Securities reissued a “sell” rating on shares of Rio Tinto PLC in a research note on Thursday, July 13th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and sixteen have given a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $47.50.
Shares of Rio Tinto PLC (RIO) opened at 47.85 on Friday. Rio Tinto PLC has a 12-month low of $31.24 and a 12-month high of $49.89. The company’s 50-day moving average price is $47.23 and its 200 day moving average price is $42.74. The company has a market cap of $85.79 billion, a price-to-earnings ratio of 13.95 and a beta of 0.98.
The business also recently declared a None dividend, which was paid on Thursday, September 21st. Shareholders of record on Friday, August 11th were paid a dividend of $1.10 per share. The ex-dividend date was Wednesday, August 9th.
About Rio Tinto PLC
Rio Tinto plc is a mining and metals company. The Company’s business is finding, mining and processing mineral resources. The Company’s segments include Iron Ore, Aluminium, Copper & Diamonds, Energy & Minerals and Other Operations. The Company operates an iron ore business, supplying the global seaborne iron ore trade.
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