Knowledge Leaders Capital LLC Has $101,000 Stake in Rio Tinto PLC (RIO)
Knowledge Leaders Capital LLC increased its stake in Rio Tinto PLC (NYSE:RIO) by 126.0% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,393 shares of the mining company’s stock after buying an additional 1,334 shares during the period. Knowledge Leaders Capital LLC’s holdings in Rio Tinto PLC were worth $101,000 at the end of the most recent reporting period.
Other large investors also recently added to or reduced their stakes in the company. UBS Asset Management Americas Inc. bought a new stake in Rio Tinto PLC during the fourth quarter valued at approximately $119,000. Huntington National Bank boosted its stake in Rio Tinto PLC by 167.1% in the first quarter. Huntington National Bank now owns 3,707 shares of the mining company’s stock valued at $151,000 after buying an additional 2,319 shares during the period. Sigma Planning Corp boosted its stake in Rio Tinto PLC by 9.1% in the first quarter. Sigma Planning Corp now owns 6,925 shares of the mining company’s stock valued at $282,000 after buying an additional 575 shares during the period. Profund Advisors LLC boosted its stake in Rio Tinto PLC by 51.0% in the first quarter. Profund Advisors LLC now owns 39,888 shares of the mining company’s stock valued at $1,623,000 after buying an additional 13,464 shares during the period. Finally, Acadian Asset Management LLC bought a new stake in Rio Tinto PLC during the first quarter valued at approximately $2,662,000. Institutional investors and hedge funds own 7.22% of the company’s stock.
Rio Tinto PLC (NYSE:RIO) opened at 44.64 on Monday. The stock has a market capitalization of $80.04 billion, a P/E ratio of 13.01 and a beta of 0.98. Rio Tinto PLC has a 12-month low of $29.62 and a 12-month high of $48.03. The stock has a 50 day moving average price of $45.16 and a 200-day moving average price of $42.11.
The company also recently announced 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 analyst reports. ValuEngine upgraded Rio Tinto PLC from a “buy” rating to a “strong-buy” rating in a research note 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. BidaskClub cut Rio Tinto PLC from a “hold” rating to a “sell” rating in a research report on Saturday, June 17th. Zacks Investment Research cut Rio Tinto PLC from a “hold” rating to a “strong sell” rating in a research report on Wednesday, June 21st. Finally, Bank of America Corporation upgraded Rio Tinto PLC from an “underperform” rating to a “buy” rating in a research report on Friday, June 30th. One analyst has rated the stock with a sell rating, four have issued a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. Rio Tinto PLC currently has an average rating of “Buy” and an average price target of $43.00.
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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