Rio Tinto PLC (RIO) Shares Sold by Cadinha & Co. LLC
Cadinha & Co. LLC cut its position in Rio Tinto PLC (NYSE:RIO) by 1.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 303,820 shares of the mining company’s stock after selling 2,950 shares during the period. Rio Tinto PLC accounts for about 2.2% of Cadinha & Co. LLC’s holdings, making the stock its 17th largest position. Cadinha & Co. LLC’s holdings in Rio Tinto PLC were worth $12,855,000 as of its most recent SEC filing.
Other hedge funds have also modified their holdings of the company. Neuberger Berman Group LLC acquired a new stake in shares of Rio Tinto PLC during the first quarter worth about $62,865,000. Todd Asset Management LLC acquired a new stake in shares of Rio Tinto PLC during the first quarter worth about $44,378,000. Teachers Retirement System of The State of Kentucky acquired a new stake in shares of Rio Tinto PLC during the first quarter worth about $28,772,000. Bank of America Corp DE raised 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 worth $103,570,000 after buying an additional 553,424 shares during the last quarter. Finally, Bank of Montreal Can acquired a new stake in shares of Rio Tinto PLC during the second quarter worth about $21,563,000. 7.15% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Rio Tinto PLC (NYSE:RIO) opened at 46.16 on Thursday. Rio Tinto PLC has a one year low of $29.62 and a one year high of $48.03. The company’s 50 day moving average price is $44.17 and its 200 day moving average price is $42.10. The stock has a market capitalization of $82.91 billion, a P/E ratio of 13.46 and a beta of 0.98.
The company also recently announced a None dividend, which will be paid on Thursday, September 21st. Shareholders of record on Friday, August 11th will be paid a $1.10 dividend. The ex-dividend date is Wednesday, August 9th.
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RIO has been the topic of a number of research analyst reports. Bank of America Corporation raised Rio Tinto PLC from an “underperform” rating to a “buy” rating in a research note on Friday, June 30th. Zacks Investment Research lowered Rio Tinto PLC from a “hold” rating to a “strong sell” rating in a research note on Wednesday, June 21st. Citigroup Inc. raised Rio Tinto PLC from a “neutral” rating to a “buy” rating in a research note on Thursday, April 20th. Royal Bank Of Canada raised Rio Tinto PLC from an “outperform” rating to a “top pick” rating in a research note on Wednesday, May 17th. Finally, ValuEngine raised Rio Tinto PLC from a “buy” rating to a “strong-buy” rating in a research note on Thursday, May 11th. One analyst has rated the stock with a sell rating, four have given a hold rating, fourteen have given a buy rating and two have given a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $41.80.
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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