GQG Partners LLC raised its stake in shares of Rio Tinto PLC (NYSE:RIO) by 3,098.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 310,254 shares of the mining company’s stock after purchasing an additional 300,554 shares during the period. Rio Tinto PLC accounts for about 1.0% of GQG Partners LLC’s portfolio, making the stock its 28th biggest position. GQG Partners LLC’s holdings in Rio Tinto PLC were worth $13,127,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently modified their holdings of the business. Quantbot Technologies LP raised its position in Rio Tinto PLC by 276.9% during the second quarter. Quantbot Technologies LP now owns 10,308 shares of the mining company’s stock valued at $436,000 after purchasing an additional 7,573 shares during the period. MML Investors Services LLC purchased a new stake in Rio Tinto PLC during the second quarter valued at approximately $203,000. ETRADE Capital Management LLC raised its position in Rio Tinto PLC by 3.7% during the second quarter. ETRADE Capital Management LLC now owns 8,872 shares of the mining company’s stock valued at $375,000 after purchasing an additional 315 shares during the period. Northern Trust Corp raised its position in Rio Tinto PLC by 0.8% during the second quarter. Northern Trust Corp now owns 1,166,895 shares of the mining company’s stock valued at $49,372,000 after purchasing an additional 9,809 shares during the period. Finally, D.A. Davidson & CO. raised its position in Rio Tinto PLC by 11.7% during the second quarter. D.A. Davidson & CO. now owns 6,793 shares of the mining company’s stock valued at $287,000 after purchasing an additional 714 shares during the period. Institutional investors and hedge funds own 6.87% of the company’s stock.

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RIO has been the topic of a number of recent research reports. ValuEngine upgraded Rio Tinto PLC from a “buy” rating to a “strong-buy” rating in a research report on Thursday, July 6th. Jefferies Group LLC set a $52.00 price objective on Rio Tinto PLC and gave the company a “buy” rating in a research report on Friday, August 18th. Axiom Securities restated a “sell” rating on shares of Rio Tinto PLC in a research report on Thursday, July 13th. BidaskClub downgraded Rio Tinto PLC from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 25th. Finally, Clarkson Capital restated a “buy” rating on shares of Rio Tinto PLC in a research report on Wednesday, August 2nd. One analyst has rated the stock with a sell rating, four have given a hold rating and sixteen have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $47.50.

Rio Tinto PLC (RIO) traded up 0.48% on Friday, reaching $48.08. The company’s stock had a trading volume of 1,441,224 shares. The firm has a market capitalization of $86.20 billion, a price-to-earnings ratio of 14.02 and a beta of 0.98. The company has a 50 day moving average of $47.23 and a 200 day moving average of $42.74. Rio Tinto PLC has a 52 week low of $31.24 and a 52 week high of $49.89.

The company also recently announced a None dividend, which was paid on Thursday, September 21st. Shareholders of record on Friday, August 11th were given a $1.10 dividend. The ex-dividend date of this dividend was Wednesday, August 9th.

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.

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

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