Thrivent Financial for Lutherans Has $2.02 Million Stock Position in Rio Tinto PLC $RIO

Thrivent Financial for Lutherans raised its position in Rio Tinto PLC (NYSE:RIO) by 125.4% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 34,580 shares of the mining company’s stock after acquiring an additional 19,241 shares during the period. Thrivent Financial for Lutherans’ holdings in Rio Tinto were worth $2,024,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Pinpoint Asset Management Singapore Pte. Ltd. bought a new position in shares of Rio Tinto in the 2nd quarter worth $38,000. MTM Investment Management LLC bought a new position in shares of Rio Tinto in the second quarter valued at $43,000. Hilltop National Bank bought a new position in shares of Rio Tinto in the second quarter valued at $44,000. Resources Management Corp CT ADV acquired a new position in shares of Rio Tinto during the first quarter valued at about $48,000. Finally, Wealth Preservation Advisors LLC bought a new stake in shares of Rio Tinto during the second quarter worth about $53,000. Institutional investors own 19.33% of the company’s stock.

Analysts Set New Price Targets

RIO has been the topic of several recent research reports. Argus lifted their price target on Rio Tinto from $70.00 to $85.00 and gave the company a “buy” rating in a research note on Thursday, December 11th. Royal Bank Of Canada reiterated a “sector perform” rating on shares of Rio Tinto in a report on Monday, December 1st. Zacks Research lowered Rio Tinto from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 19th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Rio Tinto in a report on Monday. Finally, Morgan Stanley reiterated an “overweight” rating on shares of Rio Tinto in a report on Tuesday, December 16th. Two analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat, Rio Tinto has an average rating of “Moderate Buy” and an average price target of $79.00.

Rio Tinto Stock Performance

Shares of RIO stock opened at $80.90 on Wednesday. The company has a quick ratio of 1.03, a current ratio of 1.53 and a debt-to-equity ratio of 0.37. Rio Tinto PLC has a 52 week low of $51.67 and a 52 week high of $81.17. The firm’s 50-day simple moving average is $72.14 and its two-hundred day simple moving average is $65.35.

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.