Cambridge Investment Research Advisors Inc. Purchases 281 Shares of Rio Tinto PLC (RIO)

Cambridge Investment Research Advisors Inc. lifted its position in shares of Rio Tinto PLC (NYSE:RIO) by 2.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,821 shares of the mining company’s stock after buying an additional 281 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in Rio Tinto PLC were worth $500,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of RIO. Neuberger Berman Group LLC acquired a new position in Rio Tinto PLC during the first quarter valued at approximately $62,865,000. Todd Asset Management LLC acquired a new position in Rio Tinto PLC during the first quarter valued at approximately $44,378,000. Teachers Retirement System of The State of Kentucky acquired a new position in Rio Tinto PLC during the first quarter valued at approximately $28,772,000. Bank of America Corp DE boosted its position in Rio Tinto PLC by 27.8% during 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 purchasing an additional 553,424 shares during the last quarter. Finally, Jennison Associates LLC boosted its position in Rio Tinto PLC by 53.4% during the second quarter. Jennison Associates LLC now owns 1,576,255 shares of the mining company’s stock valued at $66,691,000 after purchasing an additional 548,476 shares during the last quarter. 6.88% of the stock is owned by institutional investors.

Several research analysts recently commented on RIO shares. ValuEngine cut Rio Tinto PLC from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, June 20th. BidaskClub cut Rio Tinto PLC from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 25th. Bank of America Corporation raised Rio Tinto PLC from an “underperform” rating to a “buy” rating in a research report on Friday, June 30th. Clarkson Capital reissued a “buy” rating on shares of Rio Tinto PLC in a research report on Wednesday, August 2nd. Finally, Jefferies Group LLC set a $52.00 price target on Rio Tinto PLC and gave the company a “buy” rating in a research report on Friday, August 18th. One 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 company presently has an average rating of “Buy” and a consensus price target of $47.50.

Rio Tinto PLC (NYSE RIO) opened at 49.24 on Tuesday. The company has a market cap of $88.28 billion, a price-to-earnings ratio of 14.36 and a beta of 0.98. The stock’s 50 day moving average price is $46.73 and its 200-day moving average price is $42.41. Rio Tinto PLC has a 52 week low of $29.62 and a 52 week high of $49.79.

The company also recently disclosed a None dividend, which will be paid on Thursday, September 21st. Investors of record on Friday, August 11th will be paid a $1.10 dividend. The ex-dividend date of this dividend is Wednesday, August 9th.

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Rio Tinto PLC Company Profile

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.

Institutional Ownership by Quarter for Rio Tinto PLC (NYSE:RIO)

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