Hennessy Advisors Inc. cut its holdings in shares of Rio Tinto PLC (NYSE:RIO) by 3.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 125,000 shares of the mining company’s stock after selling 4,400 shares during the quarter. Hennessy Advisors Inc.’s holdings in Rio Tinto PLC were worth $5,289,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Nicholas Hoffman & Company LLC. lifted its holdings in Rio Tinto PLC by 0.3% during the first quarter. Nicholas Hoffman & Company LLC. now owns 8,310 shares of the mining company’s stock valued at $338,000 after purchasing an additional 24 shares during the last quarter. Neville Rodie & Shaw Inc. lifted its holdings in Rio Tinto PLC by 0.4% during the first quarter. Neville Rodie & Shaw Inc. now owns 24,000 shares of the mining company’s stock valued at $976,000 after purchasing an additional 100 shares during the last quarter. Deroy & Devereaux Private Investment Counsel Inc. lifted its holdings in Rio Tinto PLC by 0.5% during the second quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 30,150 shares of the mining company’s stock valued at $1,276,000 after purchasing an additional 150 shares during the last quarter. Bollard Group LLC lifted its holdings in Rio Tinto PLC by 3.0% during the second quarter. Bollard Group LLC now owns 7,196 shares of the mining company’s stock valued at $304,000 after purchasing an additional 210 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. lifted its holdings in Rio Tinto PLC by 2.4% during the second quarter. Cambridge Investment Research Advisors Inc. now owns 11,821 shares of the mining company’s stock valued at $500,000 after purchasing an additional 281 shares during the last quarter. 6.88% of the stock is currently owned by institutional investors and hedge funds.

Rio Tinto PLC (NYSE:RIO) traded down 2.54% on Friday, hitting $48.27. 3,285,153 shares of the company traded hands. Rio Tinto PLC has a 1-year low of $29.62 and a 1-year high of $49.79. The firm has a market capitalization of $86.54 billion, a PE ratio of 14.07 and a beta of 0.98. The firm’s 50 day moving average price is $46.65 and its 200 day moving average price is $42.45.

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

RIO has been the topic of several recent research reports. ValuEngine downgraded shares of Rio Tinto PLC from a “strong-buy” rating to a “buy” rating in a report on Tuesday, June 20th. BidaskClub downgraded shares of Rio Tinto PLC from a “strong-buy” rating to a “buy” rating in a report on Tuesday, July 25th. 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. Clarkson Capital reaffirmed a “buy” rating on shares of Rio Tinto PLC in a report on Wednesday, August 2nd. Finally, Jefferies Group LLC set a $52.00 price objective on shares of Rio Tinto PLC and gave the company a “buy” rating in a report on Friday, August 18th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and sixteen have given a buy rating to the company’s stock. Rio Tinto PLC presently has an average rating of “Buy” and a consensus target price of $47.50.

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

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