MML Investors Services LLC bought a new position in Rio Tinto PLC (NYSE:RIO) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 4,798 shares of the mining company’s stock, valued at approximately $203,000.
A number of other institutional investors have also recently modified their holdings of RIO. Neuberger Berman Group LLC raised its holdings in Rio Tinto PLC by 49.9% in the second quarter. Neuberger Berman Group LLC now owns 2,316,097 shares of the mining company’s stock worth $97,994,000 after buying an additional 770,750 shares during the last quarter. Teachers Retirement System of The State of Kentucky purchased a new position in Rio Tinto PLC in the first quarter worth about $28,772,000. Bank of America Corp DE raised its holdings 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 worth $103,570,000 after buying an additional 553,424 shares during the last quarter. Jennison Associates LLC raised its holdings in Rio Tinto PLC by 53.4% in the second quarter. Jennison Associates LLC now owns 1,576,255 shares of the mining company’s stock worth $66,691,000 after buying an additional 548,476 shares during the last quarter. Finally, Bank of Montreal Can purchased a new position in Rio Tinto PLC in the second quarter worth about $21,563,000. 6.87% of the stock is owned by institutional investors and hedge funds.
Several research analysts have issued reports on RIO shares. Bank of America Corporation raised shares of Rio Tinto PLC from an “underperform” rating to a “buy” rating in a report on Friday, June 30th. Axiom Securities reaffirmed a “sell” rating on shares of Rio Tinto PLC in a report on Tuesday, July 25th. ValuEngine cut shares of Rio Tinto PLC from a “strong-buy” rating to a “buy” rating in a report on Friday, September 1st. BidaskClub raised shares of Rio Tinto PLC from a “sell” rating to a “hold” rating in a report on Saturday, June 24th. Finally, Cowen and Company reaffirmed a “market perform” rating and issued a $45.00 target price (down from $47.00) on shares of Rio Tinto PLC in a report on Tuesday, July 25th. One research analyst has rated the stock with a sell rating, four have given a hold rating and sixteen have given a buy rating to the company’s stock. Rio Tinto PLC currently has an average rating of “Buy” and a consensus price target of $47.67.
Shares of Rio Tinto PLC (NYSE:RIO) opened at 48.52 on Thursday. 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 is $47.71 and its 200 day moving average is $43.25. The company has a market capitalization of $86.99 billion, a price-to-earnings ratio of 14.15 and a beta of 0.95.
The business also recently disclosed a None dividend, which was paid on Thursday, September 21st. Investors of record on Friday, August 11th were given a $1.10 dividend. The ex-dividend date was Wednesday, August 9th.
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.
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