Credit Suisse AG increased its position in Rio Tinto PLC (NYSE:RIO) by 56.8% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 174,593 shares of the mining company’s stock after buying an additional 63,272 shares during the period. Credit Suisse AG’s holdings in Rio Tinto PLC were worth $7,102,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently modified their holdings of the company. Dodge & Cox acquired a new position in Rio Tinto PLC during the fourth quarter worth about $577,000. UBS Asset Management Americas Inc. acquired a new position in Rio Tinto PLC during the fourth quarter worth about $119,000. New Century Investment Management Inc. acquired a new position in Rio Tinto PLC during the fourth quarter worth about $1,578,000. CENTRAL TRUST Co boosted its position in Rio Tinto PLC by 84.6% in the first quarter. CENTRAL TRUST Co now owns 5,089 shares of the mining company’s stock worth $207,000 after buying an additional 2,332 shares in the last quarter. Finally, Nepsis Capital Management Inc. boosted its position in Rio Tinto PLC by 2,278.9% in the first quarter. Nepsis Capital Management Inc. now owns 142,495 shares of the mining company’s stock worth $5,797,000 after buying an additional 136,505 shares in the last quarter. Institutional investors own 7.15% of the company’s stock.
Rio Tinto PLC (NYSE RIO) traded down 1.68% during trading on Friday, hitting $44.61. The company had a trading volume of 5,583,534 shares. Rio Tinto PLC has a 1-year low of $29.62 and a 1-year high of $48.03. The stock has a market capitalization of $79.98 billion, a price-to-earnings ratio of 13.01 and a beta of 0.98. The company’s 50 day moving average price is $44.54 and its 200-day moving average price is $42.13.
The business also recently disclosed a None dividend, which will be paid on Thursday, September 21st. Investors of record on Friday, August 11th will be given a dividend of $1.10 per share. The ex-dividend date of this dividend is Wednesday, August 9th.
RIO has been the topic of a number of recent analyst reports. Zacks Investment Research upgraded Rio Tinto PLC from a “strong sell” rating to a “hold” rating in a research report on Saturday, August 5th. ValuEngine upgraded Rio Tinto PLC from a “buy” rating to a “strong-buy” rating in a research report on Thursday, May 11th. Citigroup Inc. upgraded Rio Tinto PLC from a “neutral” rating to a “buy” rating in a research report on Thursday, April 20th. Bank of America Corporation upgraded Rio Tinto PLC from an “underperform” rating to a “buy” rating in a research report on Friday, June 30th. Finally, Cowen and Company reiterated a “market perform” rating and issued a $45.00 target price (down previously from $47.00) on shares of Rio Tinto PLC in a research report on Tuesday, July 25th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, fourteen have given a buy rating and two have issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $41.80.
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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