Glenmede Trust Co. NA maintained its stake in Rio Tinto PLC (NYSE:RIO) during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 9,126 shares of the mining company’s stock at the end of the first quarter. Glenmede Trust Co. NA’s holdings in Rio Tinto PLC were worth $350,000 as of its most recent SEC filing.
Several other large investors also recently added to or reduced their stakes in the company. Neuberger Berman Group LLC acquired a new position in shares of Rio Tinto PLC during the first quarter worth about $62,865,000. Todd Asset Management LLC acquired a new position in shares of Rio Tinto PLC during the first quarter worth about $44,378,000. Bank of America Corp DE increased its position 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. Karp Capital Management Corp acquired a new position in shares of Rio Tinto PLC during the first quarter worth about $12,590,000. Finally, Cadinha & Co. LLC acquired a new position in shares of Rio Tinto PLC during the first quarter worth about $12,479,000. 7.08% of the stock is currently owned by hedge funds and other institutional investors.
Rio Tinto PLC (NYSE:RIO) opened at 44.56 on Friday. Rio Tinto PLC has a 1-year low of $29.62 and a 1-year high of $47.11. The stock has a 50 day moving average price of $40.37 and a 200 day moving average price of $41.05. The company has a market cap of $80.17 billion, a P/E ratio of 17.45 and a beta of 0.96.
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A number of brokerages have recently issued reports on RIO. BidaskClub raised Rio Tinto PLC from a “buy” rating to a “strong-buy” rating in a report on Wednesday. Axiom Securities reaffirmed a “sell” rating on shares of Rio Tinto PLC in a report on Thursday. ValuEngine raised Rio Tinto PLC from a “buy” rating to a “strong-buy” rating in a report on Thursday, July 6th. Bank of America Corporation raised Rio Tinto PLC from an “underperform” rating to a “buy” rating in a report on Friday, June 30th. Finally, Zacks Investment Research raised Rio Tinto PLC from a “hold” rating to a “strong-buy” rating and set a $47.00 price target on the stock in a report on Wednesday, April 12th. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, fourteen have given a buy rating and three have assigned a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $39.67.
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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