Commerce Bank Acquires Shares of 4,888 Rio Tinto PLC (RIO)
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.
WARNING: “Commerce Bank Acquires Shares of 4,888 Rio Tinto PLC (RIO)” was originally reported by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are accessing this report on another domain, it was illegally copied and republished in violation of US and international copyright law. The legal version of this report can be viewed at https://www.thecerbatgem.com/2017/09/14/commerce-bank-acquires-shares-of-4888-rio-tinto-plc-rio.html.
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.
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).
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.