Capital Innovations LLC Increases Holdings in Rio Tinto PLC (RIO)

Capital Innovations LLC raised its stake in shares of Rio Tinto PLC (NYSE:RIO) by 96.8% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 11,505 shares of the mining company’s stock after buying an additional 5,660 shares during the period. Rio Tinto PLC comprises approximately 1.9% of Capital Innovations LLC’s holdings, making the stock its 21st largest position. Capital Innovations LLC’s holdings in Rio Tinto PLC were worth $487,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. HPM Partners LLC raised its stake in Rio Tinto PLC by 1.3% during the 2nd quarter. HPM Partners LLC now owns 10,211 shares of the mining company’s stock valued at $432,000 after buying an additional 132 shares during the last quarter. Deroy & Devereaux Private Investment Counsel Inc. grew its position in shares of Rio Tinto PLC by 0.5% during the 2nd quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 30,150 shares of the mining company’s stock valued at $1,276,000 after acquiring an additional 150 shares during the period. Bollard Group LLC grew its position in shares of Rio Tinto PLC by 3.0% during the 2nd quarter. Bollard Group LLC now owns 7,196 shares of the mining company’s stock valued at $304,000 after acquiring an additional 210 shares during the period. Moors & Cabot Inc. grew its position in shares of Rio Tinto PLC by 2.7% during the 2nd quarter. Moors & Cabot Inc. now owns 9,997 shares of the mining company’s stock valued at $425,000 after acquiring an additional 264 shares during the period. Finally, Cambridge Investment Research Advisors Inc. grew its position in shares of Rio Tinto PLC by 2.4% during the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 11,821 shares of the mining company’s stock valued at $500,000 after acquiring an additional 281 shares during the period. Institutional investors and hedge funds own 6.87% of the company’s stock.

RIO has been the subject of a number of recent research reports. Bank of America Corporation raised shares of Rio Tinto PLC from an “underperform” rating to a “buy” rating in a research report on Friday, June 30th. Axiom Securities reissued a “sell” rating on shares of Rio Tinto PLC in a research report on Tuesday, July 25th. ValuEngine downgraded shares of Rio Tinto PLC from a “strong-buy” rating to a “buy” rating in a research report on Friday, September 1st. BidaskClub raised shares of Rio Tinto PLC from a “sell” rating to a “hold” rating in a research report on Saturday, June 24th. Finally, Cowen and Company reissued a “market perform” rating and set a $45.00 price objective (down previously from $47.00) on shares of Rio Tinto PLC in a research report on Tuesday, July 25th. One analyst has rated the stock with a sell rating, three have issued a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $50.50.

Shares of Rio Tinto PLC (NYSE:RIO) traded up 0.4579% on Tuesday, reaching $48.2901. 1,115,127 shares of the company traded hands. Rio Tinto PLC has a 1-year low of $31.24 and a 1-year high of $49.89. The stock has a market capitalization of $86.58 billion, a price-to-earnings ratio of 14.0787 and a beta of 0.96. The company has a 50-day moving average of $48.04 and a 200-day moving average of $43.41.

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

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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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