PNC Financial Services Group Inc. decreased its position in Rio Tinto PLC (NYSE:RIO) by 14.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 22,579 shares of the mining company’s stock after selling 3,727 shares during the period. PNC Financial Services Group Inc.’s holdings in Rio Tinto PLC were worth $705,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the company. Aperio Group LLC increased its position in Rio Tinto PLC by 85.9% in the first quarter. Aperio Group LLC now owns 452,348 shares of the mining company’s stock worth $12,788,000 after buying an additional 209,059 shares in the last quarter. Lockheed Martin Investment Management Co. bought a new position in shares of Rio Tinto PLC during the first quarter worth $396,000. BTC Capital Management Inc. increased its position in shares of Rio Tinto PLC by 6.9% in the first quarter. BTC Capital Management Inc. now owns 8,114 shares of the mining company’s stock worth $231,000 after buying an additional 523 shares during the period. CIBC World Markets Inc. bought a new position in shares of Rio Tinto PLC during the first quarter worth $1,338,000. Finally, Pacad Investment Ltd. increased its position in shares of Rio Tinto PLC by 69.6% in the first quarter. Pacad Investment Ltd. now owns 62,599 shares of the mining company’s stock worth $1,770,000 after buying an additional 25,699 shares during the period. 7.04% of the stock is currently owned by hedge funds and other institutional investors.

Rio Tinto PLC (NYSE:RIO) traded up 0.36% during mid-day trading on Tuesday, hitting $30.91. The stock had a trading volume of 2,151,564 shares. Rio Tinto PLC has a 12 month low of $21.89 and a 12 month high of $40.05. The stock’s 50-day moving average price is $31.62 and its 200-day moving average price is $30.46. The stock has a market cap of $55.60 billion, a price-to-earnings ratio of 1405.00 and a beta of 1.69.

The business also recently disclosed a dividend, which will be paid on Thursday, September 22nd. Stockholders of record on Friday, August 12th will be given a dividend of $0.45 per share. The ex-dividend date is Wednesday, August 10th.

A number of equities analysts recently weighed in on the stock. Cowen and Company reissued a “market perform” rating and issued a $35.00 price target on shares of Rio Tinto PLC in a report on Thursday, September 15th. JPMorgan Chase & Co. raised shares of Rio Tinto PLC from a “neutral” rating to an “overweight” rating in a report on Monday, September 12th. RBC Capital Markets raised shares of Rio Tinto PLC from a “sector perform” rating to an “outperform” rating and set a $25.00 price target on the stock in a report on Thursday, September 8th. Royal Bank Of Canada raised shares of Rio Tinto PLC from a “sector perform” rating to an “outperform” rating in a report on Thursday, September 8th. Finally, Deutsche Bank AG reissued a “buy” rating on shares of Rio Tinto PLC in a report on Wednesday, September 7th. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and twelve have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $34.44.

About Rio Tinto PLC

Rio Tinto plc is a mining company. The Company focuses on finding, mining, processing and marketing the Earth’s mineral resources. The Company’s segments include aluminum, copper and coal, diamonds and minerals, and iron ore. The Company’s aluminum business includes bauxite mines, alumina refineries and aluminum smelters.

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