Thrivent Financial for Lutherans Buys 14,006 Shares of Rio Tinto PLC $RIO

Thrivent Financial for Lutherans boosted its holdings in Rio Tinto PLC (NYSE:RIO) by 77.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 32,072 shares of the mining company’s stock after acquiring an additional 14,006 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Rio Tinto were worth $2,576,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Wealth Quarterback LLC lifted its position in Rio Tinto by 1.8% in the 4th quarter. Wealth Quarterback LLC now owns 6,532 shares of the mining company’s stock valued at $523,000 after acquiring an additional 118 shares in the last quarter. Bailard Inc. lifted its position in Rio Tinto by 1.1% in the 4th quarter. Bailard Inc. now owns 12,306 shares of the mining company’s stock valued at $985,000 after acquiring an additional 128 shares in the last quarter. IVC Wealth Advisors LLC lifted its position in Rio Tinto by 1.2% in the 4th quarter. IVC Wealth Advisors LLC now owns 10,963 shares of the mining company’s stock valued at $877,000 after acquiring an additional 129 shares in the last quarter. Mather Group LLC. lifted its position in Rio Tinto by 4.5% in the 4th quarter. Mather Group LLC. now owns 3,060 shares of the mining company’s stock valued at $245,000 after acquiring an additional 132 shares in the last quarter. Finally, American Capital Advisory LLC lifted its position in Rio Tinto by 1.0% in the 4th quarter. American Capital Advisory LLC now owns 13,492 shares of the mining company’s stock valued at $1,080,000 after acquiring an additional 132 shares in the last quarter. 19.33% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on RIO. Bank of America cut Rio Tinto from a “buy” rating to a “neutral” rating in a research report on Friday. Argus set a $120.00 price target on Rio Tinto in a research note on Monday, April 27th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating on shares of Rio Tinto in a research note on Friday, May 15th. Zacks Research lowered Rio Tinto from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 7th. Finally, JPMorgan Chase & Co. downgraded shares of Rio Tinto from an “overweight” rating to a “neutral” rating in a report on Monday, March 9th. Four investment analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $101.75.

Rio Tinto Stock Performance

Shares of NYSE RIO opened at $104.24 on Monday. 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 1 year low of $55.64 and a 1 year high of $112.58. The firm has a 50-day simple moving average of $97.13 and a two-hundred day simple moving average of $88.44.

Rio Tinto Company 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.