Cambridge Investment Research Advisors Inc. cut its stake in shares of Rio Tinto PLC (NYSE:RIO) by 7.5% during the first quarter, Holdings Channel reports. The fund owned 11,540 shares of the mining company’s stock after selling 933 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in Rio Tinto PLC were worth $469,000 as of its most recent filing with the SEC.

Several other large investors have also added to or reduced their stakes in RIO. Neuberger Berman Group LLC acquired a new stake in Rio Tinto PLC during the first quarter valued at about $62,865,000. Todd Asset Management LLC acquired a new stake in Rio Tinto PLC during the first quarter valued at about $44,378,000. Karp Capital Management Corp acquired a new stake in Rio Tinto PLC during the first quarter valued at about $12,590,000. Cadinha & Co. LLC acquired a new stake in Rio Tinto PLC during the first quarter valued at about $12,479,000. Finally, Parametric Portfolio Associates LLC raised its stake in Rio Tinto PLC by 29.0% in the first quarter. Parametric Portfolio Associates LLC now owns 776,209 shares of the mining company’s stock valued at $31,576,000 after buying an additional 174,655 shares during the last quarter. 7.06% of the stock is owned by institutional investors and hedge funds.

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

Rio Tinto PLC (RIO) opened at 39.17 on Friday. Rio Tinto PLC has a 52-week low of $27.74 and a 52-week high of $47.11. The firm has a market capitalization of $70.47 billion, a price-to-earnings ratio of 15.34 and a beta of 1.01. The firm has a 50-day moving average of $40.15 and a 200-day moving average of $41.10.

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Several research analysts recently commented on the stock. Zacks Investment Research upgraded shares of Rio Tinto PLC from a “hold” rating to a “strong-buy” rating and set a $47.00 target price on the stock in a report on Wednesday, April 12th. Citigroup Inc. upgraded shares of Rio Tinto PLC from a “neutral” rating to a “buy” rating in a report on Thursday, April 20th. Royal Bank Of Canada upgraded shares of Rio Tinto PLC from an “outperform” rating to a “top pick” rating in a report on Wednesday, May 17th. ValuEngine upgraded shares of Rio Tinto PLC from a “buy” rating to a “strong-buy” rating in a report on Thursday, May 11th. Finally, BNP Paribas upgraded shares of Rio Tinto PLC from a “neutral” rating to an “outperform” rating in a report on Thursday, April 20th. Four research analysts have rated the stock with a sell rating, five have given a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $41.86.

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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