Bourgeon Capital Management LLC boosted its stake in shares of Rio Tinto PLC (NYSE:RIO) by 0.4% during the second quarter, Holdings Channel reports. The institutional investor owned 71,925 shares of the mining company’s stock after buying an additional 300 shares during the period. Rio Tinto PLC comprises 1.9% of Bourgeon Capital Management LLC’s investment portfolio, making the stock its 26th largest position. Bourgeon Capital Management LLC’s holdings in Rio Tinto PLC were worth $3,043,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently made changes to their positions in the stock. Regent Investment Management LLC purchased a new position in shares of Rio Tinto PLC during the first quarter valued at approximately $998,000. Barings LLC purchased a new position in shares of Rio Tinto PLC during the first quarter valued at approximately $419,000. Pinnacle Associates Ltd. raised its position in shares of Rio Tinto PLC by 1.4% in the first quarter. Pinnacle Associates Ltd. now owns 87,607 shares of the mining company’s stock valued at $3,564,000 after buying an additional 1,199 shares in the last quarter. Commerzbank Aktiengesellschaft FI raised its position in shares of Rio Tinto PLC by 1.9% in the first quarter. Commerzbank Aktiengesellschaft FI now owns 53,031 shares of the mining company’s stock valued at $2,157,000 after buying an additional 1,001 shares in the last quarter. Finally, Fort Washington Investment Advisors Inc. OH purchased a new position in shares of Rio Tinto PLC during the first quarter valued at approximately $1,455,000. Hedge funds and other institutional investors own 7.15% of the company’s stock.

Shares of Rio Tinto PLC (RIO) opened at 44.61 on Friday. The firm has a 50-day moving average price of $44.54 and a 200 day moving average price of $42.13. The firm has a market cap of $79.98 billion, a P/E ratio of 13.01 and a beta of 0.98. Rio Tinto PLC has a one year low of $29.62 and a one year high of $48.03.

The company also recently disclosed 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.

TRADEMARK VIOLATION WARNING: This report was first posted by Watch List News and is the property of of Watch List News. If you are reading this report on another publication, it was illegally copied and reposted in violation of international trademark and copyright law. The original version of this report can be read at https://www.watchlistnews.com/bourgeon-capital-management-llc-increases-position-in-rio-tinto-plc-nyserio/1478717.html.

Several equities analysts have issued reports on RIO shares. Zacks Investment Research upgraded Rio Tinto PLC from a “strong sell” rating to a “hold” rating in a research note on Saturday, August 5th. ValuEngine upgraded Rio Tinto PLC from a “buy” rating to a “strong-buy” rating in a research note on Thursday, May 11th. Citigroup Inc. upgraded Rio Tinto PLC from a “neutral” rating to a “buy” rating in a research note on Thursday, April 20th. Bank of America Corporation upgraded Rio Tinto PLC from an “underperform” rating to a “buy” rating in a research note on Friday, June 30th. Finally, Cowen and Company reiterated a “market perform” rating and issued a $45.00 target price (down previously from $47.00) on shares of Rio Tinto PLC in a research note on Tuesday, July 25th. One analyst has rated the stock with a sell rating, four have given a hold rating, fourteen have assigned a buy rating and two have given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $41.80.

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 & 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 companies with Analyst Ratings Network's FREE daily email newsletter.