Creative Planning Reduces Stake in Rio Tinto PLC (NYSE:RIO)

Creative Planning decreased its position in Rio Tinto PLC (NYSE:RIO) by 10.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 14,963 shares of the mining company’s stock after selling 1,734 shares during the period. Creative Planning’s holdings in Rio Tinto PLC were worth $633,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of RIO. Quantbot Technologies LP acquired a new position in Rio Tinto PLC during the first quarter worth about $111,000. UBS Asset Management Americas Inc. acquired a new position in Rio Tinto PLC during the fourth quarter worth about $119,000. Huntington National Bank raised its position in Rio Tinto PLC by 167.1% in the first quarter. Huntington National Bank now owns 3,707 shares of the mining company’s stock worth $151,000 after buying an additional 2,319 shares in the last quarter. IFP Advisors Inc raised its position in Rio Tinto PLC by 267.6% in the first quarter. IFP Advisors Inc now owns 3,874 shares of the mining company’s stock worth $158,000 after buying an additional 2,820 shares in the last quarter. Finally, CKW Financial Group acquired a new position in Rio Tinto PLC during the first quarter worth about $163,000. 7.15% of the stock is owned by institutional investors.

Rio Tinto PLC (NYSE RIO) opened at 44.61 on Friday. Rio Tinto PLC has a 12-month low of $29.62 and a 12-month high of $48.03. The stock has a market cap of $79.98 billion, a price-to-earnings ratio of 13.01 and a beta of 0.98. The stock’s 50 day moving average price is $44.54 and its 200 day moving average price is $42.13.

The business also recently disclosed a None dividend, which will be paid on Thursday, September 21st. Investors of record on Friday, August 11th will be paid a dividend of $1.10 per share. The ex-dividend date is Wednesday, August 9th.

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RIO has been the topic of a number of analyst reports. Bank of America Corporation raised shares of Rio Tinto PLC from an “underperform” rating to a “buy” rating in a research note on Friday, June 30th. Zacks Investment Research cut shares of Rio Tinto PLC from a “hold” rating to a “strong sell” rating in a research note on Wednesday, June 21st. Citigroup Inc. raised shares of Rio Tinto PLC from a “neutral” rating to a “buy” rating in a research note on Thursday, April 20th. Royal Bank Of Canada raised shares of Rio Tinto PLC from an “outperform” rating to a “top pick” rating in a research note on Wednesday, May 17th. Finally, Axiom Securities reaffirmed a “sell” rating on shares of Rio Tinto PLC in a research note on Tuesday, July 25th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, fourteen have issued a buy rating and two have issued a strong buy rating to the company. The company has an average rating of “Buy” and an average 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.

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

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