Commerce Bank acquired a new stake in Rio Tinto PLC (NYSE:RIO) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 4,888 shares of the mining company’s stock, valued at approximately $207,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of RIO. Neuberger Berman Group LLC acquired a new stake in shares of Rio Tinto PLC in the first quarter valued at $62,865,000. Teachers Retirement System of The State of Kentucky acquired a new stake in shares of Rio Tinto PLC in the first quarter valued at $28,772,000. Bank of America Corp DE grew its stake in shares of 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 valued at $103,570,000 after buying an additional 553,424 shares in the last quarter. Jennison Associates LLC grew its stake in shares of 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 valued at $66,691,000 after buying an additional 548,476 shares in the last quarter. Finally, Bank of Montreal Can acquired a new stake in shares of Rio Tinto PLC in the second quarter valued at $21,563,000. 6.88% of the stock is owned by institutional investors and hedge funds.

Shares of Rio Tinto PLC (NYSE RIO) opened at 48.84 on Thursday. Rio Tinto PLC has a one year low of $29.79 and a one year high of $49.89. The stock has a market capitalization of $87.57 billion, a P/E ratio of 14.24 and a beta of 0.98. The firm’s 50-day moving average price is $46.96 and its 200-day moving average price is $42.51.

The firm also recently announced a None dividend, which will be paid on Thursday, September 21st. Stockholders of record on Friday, August 11th will be paid 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 research firms recently issued reports on RIO. Clarkson Capital reiterated a “buy” rating on shares of Rio Tinto PLC in a report on Wednesday, August 2nd. Axiom Securities reiterated a “sell” rating on shares of Rio Tinto PLC in a report on Thursday, July 13th. BidaskClub lowered Rio Tinto PLC from a “strong-buy” rating to a “buy” rating in a report on Tuesday, July 25th. Cowen and Company set a $47.00 target price on Rio Tinto PLC and gave the company a “hold” rating in a report on Wednesday, August 2nd. Finally, Goldman Sachs Group, Inc. (The) reiterated a “neutral” rating on shares of Rio Tinto PLC in a report on Monday, August 14th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and sixteen have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $47.50.

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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