Rio Tinto plc (RIO) Shares Sold by United Services Automobile Association

United Services Automobile Association reduced its stake in shares of Rio Tinto plc (NYSE:RIO) by 5.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 194,959 shares of the mining company’s stock after selling 10,245 shares during the period. United Services Automobile Association’s holdings in Rio Tinto plc were worth $7,931,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Bragg Financial Advisors Inc raised its stake in shares of Rio Tinto plc by 2.7% in the third quarter. Bragg Financial Advisors Inc now owns 41,900 shares of the mining company’s stock valued at $1,399,000 after buying an additional 1,085 shares during the period. Chartwell Investment Partners LLC raised its stake in shares of Rio Tinto plc by 133.0% in the third quarter. Chartwell Investment Partners LLC now owns 243,870 shares of the mining company’s stock valued at $8,145,000 after buying an additional 139,200 shares during the period. Salem Investment Counselors Inc. bought a new stake in shares of Rio Tinto plc during the third quarter valued at about $182,000. Credit Suisse AG raised its stake in shares of Rio Tinto plc by 2,738.9% in the third quarter. Credit Suisse AG now owns 1,756,844 shares of the mining company’s stock valued at $58,678,000 after buying an additional 1,694,960 shares during the period. Finally, ETRADE Capital Management LLC bought a new stake in shares of Rio Tinto plc during the third quarter valued at about $250,000. Institutional investors and hedge funds own 6.63% of the company’s stock.

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

Shares of Rio Tinto plc (NYSE RIO) traded up 1.274% during trading on Tuesday, reaching $40.925. 1,294,425 shares of the company’s stock were exchanged. The stock has a 50 day moving average price of $39.90 and a 200-day moving average price of $40.97. The stock has a market capitalization of $73.63 billion, a price-to-earnings ratio of 16.030 and a beta of 1.19. Rio Tinto plc has a 52 week low of $26.95 and a 52 week high of $47.11.

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Several analysts have recently issued reports on RIO shares. Sanford C. Bernstein reiterated an “outperform” rating on shares of Rio Tinto plc in a research report on Thursday, February 9th. Zacks Investment Research upgraded shares of Rio Tinto plc from a “hold” rating to a “strong-buy” rating and set a $51.00 target price on the stock in a research report on Friday, February 24th. Axiom Securities reiterated a “sell” rating on shares of Rio Tinto plc in a research report on Thursday, March 16th. Citigroup Inc upgraded shares of Rio Tinto plc from a “neutral” rating to a “buy” rating in a research report on Thursday, April 20th. Finally, BNP Paribas upgraded shares of Rio Tinto plc from a “neutral” rating to an “outperform” rating in a research report on Thursday, April 20th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating, thirteen have assigned a buy rating and three have issued a strong buy rating to the company. Rio Tinto plc presently has an average 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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