Thrivent Financial for Lutherans Raises Holdings in Rio Tinto PLC $RIO

Thrivent Financial for Lutherans raised its position in Rio Tinto PLC (NYSE:RIO) by 77.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 32,072 shares of the mining company’s stock after acquiring an additional 14,006 shares during the period. Thrivent Financial for Lutherans’ holdings in Rio Tinto were worth $2,576,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of RIO. Cubist Systematic Strategies LLC acquired a new stake in Rio Tinto in the first quarter valued at approximately $84,000. AQR Capital Management LLC boosted its stake in Rio Tinto by 78.4% in the first quarter. AQR Capital Management LLC now owns 12,087 shares of the mining company’s stock valued at $726,000 after acquiring an additional 5,310 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Rio Tinto by 20.7% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,485 shares of the mining company’s stock valued at $690,000 after acquiring an additional 1,968 shares in the last quarter. Empowered Funds LLC boosted its stake in Rio Tinto by 5.8% in the first quarter. Empowered Funds LLC now owns 5,280 shares of the mining company’s stock valued at $317,000 after acquiring an additional 288 shares in the last quarter. Finally, Focus Partners Wealth lifted its stake in shares of Rio Tinto by 16.7% during the first quarter. Focus Partners Wealth now owns 15,985 shares of the mining company’s stock worth $962,000 after buying an additional 2,285 shares during the period. 19.33% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

RIO has been the subject of several research reports. Sanford C. Bernstein lifted their price objective on shares of Rio Tinto from $82.00 to $83.50 and gave the stock an “outperform” rating in a research note on Monday, April 27th. Zacks Research downgraded shares of Rio Tinto from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 7th. Citigroup reiterated a “neutral” rating on shares of Rio Tinto in a research note on Monday, April 13th. HSBC downgraded shares of Rio Tinto from a “buy” rating to a “hold” rating in a research note on Monday, January 26th. Finally, Barclays downgraded shares of Rio Tinto from an “overweight” rating to an “equal weight” rating in a research note on Tuesday, February 24th. Four investment analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $101.75.

Rio Tinto Stock Performance

RIO stock opened at $104.24 on Monday. The firm has a 50-day simple moving average of $97.13 and a 200-day simple moving average of $88.44. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.44 and a quick ratio of 0.98. Rio Tinto PLC has a 52 week low of $55.64 and a 52 week high of $112.58.

Rio Tinto Profile

Rio Tinto is a global mining and metals company that explores for, mines, processes and markets a wide range of commodities. Its principal products include iron ore, aluminum, copper, diamonds and various other minerals and industrial materials. The company’s activities span the full value chain from exploration and project development to mining, processing, smelting and refining, supplying raw materials to industries such as steelmaking, automotive, packaging, electronics and construction.

The origins of Rio Tinto date back to mining operations in the Rio Tinto region of Spain in the 19th century, and the group has since grown into a multinational enterprise.