Janney Montgomery Scott LLC lowered its stake in shares of Rio Tinto PLC (NYSE:RIO) by 9.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 39,696 shares of the mining company’s stock after selling 4,210 shares during the period. Janney Montgomery Scott LLC’s holdings in Rio Tinto PLC were worth $1,680,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the stock. Nicholas Hoffman & Company LLC. increased its position in Rio Tinto PLC by 0.3% in the first quarter. Nicholas Hoffman & Company LLC. now owns 8,310 shares of the mining company’s stock valued at $338,000 after buying an additional 24 shares during the last quarter. Neville Rodie & Shaw Inc. increased its position in Rio Tinto PLC by 0.4% in the first quarter. Neville Rodie & Shaw Inc. now owns 24,000 shares of the mining company’s stock valued at $976,000 after buying an additional 100 shares during the last quarter. Courier Capital LLC increased its position in Rio Tinto PLC by 2.1% in the first quarter. Courier Capital LLC now owns 9,524 shares of the mining company’s stock valued at $387,000 after buying an additional 200 shares during the last quarter. Bollard Group LLC increased its position in Rio Tinto PLC by 3.0% in the second quarter. Bollard Group LLC now owns 7,196 shares of the mining company’s stock valued at $304,000 after buying an additional 210 shares during the last quarter. Finally, Capital Innovations LLC increased its position in Rio Tinto PLC by 5.2% in the first quarter. Capital Innovations LLC now owns 5,845 shares of the mining company’s stock valued at $238,000 after buying an additional 290 shares during the last quarter. 7.15% of the stock is currently owned by institutional investors and hedge funds.

Shares of Rio Tinto PLC (RIO) opened at 47.29 on Wednesday. The firm has a market capitalization of $84.94 billion, a PE ratio of 13.79 and a beta of 0.98. The company’s 50-day moving average is $43.46 and its 200 day moving average is $42.02. Rio Tinto PLC has a 52-week low of $29.62 and a 52-week high of $47.61.

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

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Several research firms have issued reports on RIO. Axiom Securities reaffirmed a “sell” rating on shares of Rio Tinto PLC in a report on Thursday, July 13th. BidaskClub downgraded shares of Rio Tinto PLC from a “strong-buy” rating to a “buy” rating in a report on Tuesday, July 25th. Cowen and Company set a $47.00 price objective on shares of Rio Tinto PLC and gave the company a “hold” rating in a report on Wednesday, August 2nd. BNP Paribas raised shares of Rio Tinto PLC from a “neutral” rating to an “outperform” rating in a report on Thursday, April 20th. Finally, Royal Bank Of Canada raised shares of Rio Tinto PLC from an “outperform” rating to a “top pick” rating in a report on Wednesday, May 17th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $41.80.

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.

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

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