Rio Tinto PLC (RIO) Shares Bought by PNC Financial Services Group Inc.
PNC Financial Services Group Inc. raised its holdings in Rio Tinto PLC (NYSE:RIO) by 3.2% in the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 22,040 shares of the mining company’s stock after buying an additional 686 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Rio Tinto PLC were worth $933,000 at the end of the most recent reporting period.
A number of other institutional investors have also added to or reduced their stakes in RIO. Ameriprise Financial Inc. raised its stake in Rio Tinto PLC by 2.7% in the first quarter. Ameriprise Financial Inc. now owns 130,621 shares of the mining company’s stock valued at $5,339,000 after buying an additional 3,441 shares during the last quarter. Quantbot Technologies LP purchased a new stake in Rio Tinto PLC in the first quarter valued at about $111,000. Stephens Inc. AR purchased a new stake in Rio Tinto PLC in the first quarter valued at about $312,000. MARSHALL WACE ASIA Ltd purchased a new stake in Rio Tinto PLC in the first quarter valued at about $2,529,000. Finally, Marshall Wace North America L.P. purchased a new stake in Rio Tinto PLC in the first quarter valued at about $2,529,000. Institutional investors own 6.87% of the company’s stock.
Rio Tinto PLC (RIO) opened at 48.07 on Tuesday. The stock has a market capitalization of $86.18 billion, a PE ratio of 14.01 and a beta of 0.96. The company’s 50-day moving average price is $48.04 and its 200 day moving average price is $43.41. Rio Tinto PLC has a 12 month low of $31.24 and a 12 month high of $49.89.
The business also recently disclosed a None dividend, which was paid on Thursday, September 21st. Shareholders of record on Friday, August 11th were paid a dividend of $1.10 per share. The ex-dividend date of this dividend was Wednesday, August 9th.
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A number of equities research analysts have commented on the company. Clarkson Capital reiterated a “buy” rating on shares of Rio Tinto PLC in a research note on Wednesday, August 2nd. Axiom Securities reiterated a “sell” rating on shares of Rio Tinto PLC in a research note on Thursday, July 13th. BidaskClub cut Rio Tinto PLC from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, July 25th. Citigroup Inc. restated a “buy” rating on shares of Rio Tinto PLC in a research note on Thursday, September 28th. Finally, Cowen and Company set a $47.00 price objective on Rio Tinto PLC and gave the stock a “hold” rating in a research note on Wednesday, August 2nd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the stock. Rio Tinto PLC currently has a consensus rating of “Buy” and an average target price of $50.50.
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.
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