NEXT Financial Group Inc raised its position in Rio Tinto plc (NYSE:RIO) by 3.8% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 11,939 shares of the mining company’s stock after buying an additional 437 shares during the period. NEXT Financial Group Inc’s holdings in Rio Tinto plc were worth $505,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Regent Investment Management LLC acquired a new stake in shares of Rio Tinto plc during the first quarter worth $998,000. Barings LLC acquired a new stake in shares of Rio Tinto plc during the first quarter worth $419,000. Pinnacle Associates Ltd. boosted its stake in shares of Rio Tinto plc by 1.4% in the first quarter. Pinnacle Associates Ltd. now owns 87,607 shares of the mining company’s stock worth $3,564,000 after buying an additional 1,199 shares during the period. Commerzbank Aktiengesellschaft FI boosted its stake in shares of Rio Tinto plc by 1.9% in the first quarter. Commerzbank Aktiengesellschaft FI now owns 53,031 shares of the mining company’s stock worth $2,157,000 after buying an additional 1,001 shares during the period. Finally, Fort Washington Investment Advisors Inc. OH acquired a new stake in shares of Rio Tinto plc during the first quarter worth $1,455,000. 7.14% of the stock is currently owned by institutional investors.

Rio Tinto plc (NYSE RIO) opened at 46.83 on Monday. Rio Tinto plc has a 52-week low of $29.62 and a 52-week high of $47.51. The company has a market cap of $84.12 billion, a price-to-earnings ratio of 13.65 and a beta of 0.98. The stock’s 50 day moving average is $42.93 and its 200 day moving average is $41.92.

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 given 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 analysts have weighed in on RIO shares. Zacks Investment Research raised shares of Rio Tinto plc from a “hold” rating to a “strong-buy” rating and set a $47.00 target price on the stock in a report on Wednesday, April 12th. Citigroup Inc. raised shares of Rio Tinto plc from a “neutral” rating to a “buy” rating in a report on Thursday, April 20th. ValuEngine raised shares of Rio Tinto plc from a “buy” rating to a “strong-buy” rating in a report on Thursday, May 11th. 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. Finally, Cowen and Company reaffirmed a “market perform” rating and issued a $45.00 price objective (down previously from $47.00) on shares of Rio Tinto plc in a report on Tuesday, July 25th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, fourteen have given a buy rating and two have issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $40.50.

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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