Geneva Advisors LLC lowered its position in shares of Rio Tinto PLC (NYSE:RIO) by 5.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 33,220 shares of the mining company’s stock after selling 1,750 shares during the period. Geneva Advisors LLC’s holdings in Rio Tinto PLC were worth $1,406,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of RIO. Federated Investors Inc. PA increased its stake in shares of Rio Tinto PLC by 17.1% in the second quarter. Federated Investors Inc. PA now owns 674,462 shares of the mining company’s stock worth $28,536,000 after buying an additional 98,410 shares during the period. Tocqueville Asset Management L.P. increased its stake in shares of Rio Tinto PLC by 8.2% in the second quarter. Tocqueville Asset Management L.P. now owns 66,655 shares of the mining company’s stock worth $2,820,000 after buying an additional 5,060 shares during the period. Cadence Capital Management LLC acquired a new stake in shares of Rio Tinto PLC during the second quarter worth about $517,000. Montag A & Associates Inc. increased its stake in shares of Rio Tinto PLC by 0.6% in the second quarter. Montag A & Associates Inc. now owns 94,878 shares of the mining company’s stock worth $4,014,000 after buying an additional 588 shares during the period. Finally, Knowledge Leaders Capital LLC increased its stake in shares of Rio Tinto PLC by 126.0% in the second quarter. Knowledge Leaders Capital LLC now owns 2,393 shares of the mining company’s stock worth $101,000 after buying an additional 1,334 shares during the period. Hedge funds and other institutional investors own 7.22% of the company’s stock.

Rio Tinto PLC (RIO) opened at 47.69 on Friday. The stock has a market capitalization of $85.50 billion, a PE ratio of 13.90 and a beta of 0.98. The firm has a 50-day moving average price of $45.61 and a 200-day moving average price of $42.21. Rio Tinto PLC has a 52 week low of $29.62 and a 52 week high of $48.24.

The business also recently announced a None dividend, which will be paid on Thursday, September 21st. Stockholders of record on Friday, August 11th will be issued a dividend of $1.10 per share. The ex-dividend date of this dividend is Wednesday, August 9th.

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A number of brokerages have recently issued reports on RIO. 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. Royal Bank Of Canada downgraded Rio Tinto PLC from a “top pick” rating to an “outperform” rating in a research report on Tuesday, August 15th. Goldman Sachs Group, Inc. (The) reiterated a “neutral” rating on shares of Rio Tinto PLC in a research report on Monday, August 14th. Clarkson Capital reiterated a “buy” rating on shares of Rio Tinto PLC in a research report on Wednesday, August 2nd. Finally, Zacks Investment Research upgraded Rio Tinto PLC from a “strong sell” rating to a “hold” rating in a research report on Saturday, August 5th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $43.00.

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

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