Tocqueville Asset Management L.P. increased its position in Rio Tinto PLC (NYSE:RIO) by 8.2% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 66,655 shares of the mining company’s stock after buying an additional 5,060 shares during the period. Tocqueville Asset Management L.P.’s holdings in Rio Tinto PLC were worth $2,820,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Bank of America Corp DE boosted its stake in Rio Tinto PLC by 27.8% in the first quarter. Bank of America Corp DE now owns 2,545,963 shares of the mining company’s stock worth $103,570,000 after buying an additional 553,424 shares in the last quarter. Jennison Associates LLC boosted its stake in Rio Tinto PLC by 53.4% in the second quarter. Jennison Associates LLC now owns 1,576,255 shares of the mining company’s stock worth $66,691,000 after buying an additional 548,476 shares in the last quarter. Neuberger Berman Group LLC bought a new stake in Rio Tinto PLC during the first quarter worth approximately $62,865,000. Todd Asset Management LLC bought a new stake in Rio Tinto PLC during the first quarter worth approximately $44,378,000. Finally, Sei Investments Co. boosted its stake in Rio Tinto PLC by 90.0% in the second quarter. Sei Investments Co. now owns 877,563 shares of the mining company’s stock worth $37,129,000 after buying an additional 415,632 shares in the last quarter. 7.22% of the stock is currently owned by hedge funds and other institutional investors.

Rio Tinto PLC (NYSE:RIO) opened at 47.69 on Friday. The company has a market cap of $85.50 billion, a P/E ratio of 13.90 and a beta of 0.98. The stock 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 1-year low of $29.62 and a 1-year high of $48.24.

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 issued a $1.10 dividend. The ex-dividend date of this dividend is Wednesday, August 9th.

ILLEGAL ACTIVITY NOTICE: This piece of content was reported by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are viewing this piece of content on another site, it was copied illegally and reposted in violation of United States and international copyright law. The correct version of this piece of content can be read at https://www.thecerbatgem.com/2017/08/26/tocqueville-asset-management-l-p-buys-5060-shares-of-rio-tinto-plc-rio.html.

A number of equities research analysts have recently commented on RIO shares. ValuEngine raised Rio Tinto PLC from a “buy” rating to a “strong-buy” rating in a research note on Thursday, July 6th. Jefferies Group LLC set a $52.00 price objective on Rio Tinto PLC and gave the company a “buy” rating in a research report on Friday, August 18th. Axiom Securities reaffirmed a “sell” rating on shares of Rio Tinto PLC in a research report on Thursday, July 13th. BidaskClub cut Rio Tinto PLC from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 25th. Finally, Clarkson Capital reaffirmed a “buy” rating on shares of Rio Tinto PLC in a research report on Wednesday, August 2nd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average price target 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.

Want to see what other hedge funds are holding RIO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Rio Tinto PLC (NYSE:RIO).

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

Receive News & Stock Ratings for Rio Tinto PLC Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Rio Tinto PLC and related stocks with our FREE daily email newsletter.