Creative Planning reduced its stake in Rio Tinto PLC (NYSE:RIO) by 10.4% during the second quarter, according to its most recent filing with the SEC. The firm owned 14,963 shares of the mining company’s stock after selling 1,734 shares during the period. Creative Planning’s holdings in Rio Tinto PLC were worth $633,000 as of its most recent SEC filing.
Other large investors have also recently modified their holdings of the company. Regent Investment Management LLC bought a new position in Rio Tinto PLC during the first quarter valued at approximately $998,000. Barings LLC bought a new position in Rio Tinto PLC during the first quarter valued at approximately $419,000. Pinnacle Associates Ltd. raised its position in Rio Tinto PLC by 1.4% in the first quarter. Pinnacle Associates Ltd. now owns 87,607 shares of the mining company’s stock valued at $3,564,000 after buying an additional 1,199 shares in the last quarter. Commerzbank Aktiengesellschaft FI raised its position in Rio Tinto PLC by 1.9% in the first quarter. Commerzbank Aktiengesellschaft FI now owns 53,031 shares of the mining company’s stock valued at $2,157,000 after buying an additional 1,001 shares in the last quarter. Finally, Fort Washington Investment Advisors Inc. OH bought a new position in Rio Tinto PLC during the first quarter valued at approximately $1,455,000. 7.15% of the stock is currently owned by hedge funds and other institutional investors.
Rio Tinto PLC (NYSE RIO) opened at 44.61 on Friday. Rio Tinto PLC has a 12 month low of $29.62 and a 12 month high of $48.03. The stock’s 50 day moving average price is $44.54 and its 200-day moving average price is $42.13. The firm has a market capitalization of $79.98 billion, a P/E ratio of 13.01 and a beta of 0.98.
The firm also recently disclosed a None dividend, which will be paid on Thursday, September 21st. Shareholders of record on Friday, August 11th will be paid a $1.10 dividend. The ex-dividend date is Wednesday, August 9th.
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RIO has been the subject of several recent research reports. Citigroup Inc. upgraded Rio Tinto PLC from a “neutral” rating to a “buy” rating in a research report on Thursday, April 20th. BNP Paribas upgraded Rio Tinto PLC from a “neutral” rating to an “outperform” rating in a research report on Thursday, April 20th. ValuEngine upgraded Rio Tinto PLC from a “buy” rating to a “strong-buy” rating in a research report on Thursday, May 11th. Royal Bank Of Canada upgraded Rio Tinto PLC from an “outperform” rating to a “top pick” rating in a research report on Wednesday, May 17th. Finally, BidaskClub lowered Rio Tinto PLC from a “hold” rating to a “sell” rating in a research report on Saturday, June 17th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $41.80.
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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