Thrivent Financial for Lutherans Sells 16,514 Shares of Rio Tinto PLC $RIO

Thrivent Financial for Lutherans decreased its stake in Rio Tinto PLC (NYSE:RIO) by 47.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 18,066 shares of the mining company’s stock after selling 16,514 shares during the period. Thrivent Financial for Lutherans’ holdings in Rio Tinto were worth $1,193,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in RIO. Cubist Systematic Strategies LLC bought a new position in shares of Rio Tinto in the 1st quarter valued at $84,000. AQR Capital Management LLC raised its position 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 purchasing an additional 5,310 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Rio Tinto by 20.7% during 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 purchasing an additional 1,968 shares in the last quarter. Empowered Funds LLC grew its holdings in shares of Rio Tinto by 5.8% during the first quarter. Empowered Funds LLC now owns 5,280 shares of the mining company’s stock worth $317,000 after purchasing an additional 288 shares during the last quarter. Finally, Focus Partners Wealth increased its stake in shares of Rio Tinto by 16.7% in the first quarter. Focus Partners Wealth now owns 15,985 shares of the mining company’s stock valued at $962,000 after buying an additional 2,285 shares during the period. Institutional investors and hedge funds own 19.33% of the company’s stock.

Analyst Ratings Changes

RIO has been the topic of several recent research reports. Citigroup upgraded shares of Rio Tinto to a “hold” rating in a research report on Tuesday, February 10th. Weiss Ratings reissued a “hold (c+)” rating on shares of Rio Tinto in a research note on Monday, December 29th. Erste Group Bank upgraded Rio Tinto from a “hold” rating to a “buy” rating in a report on Friday, January 23rd. Argus lifted their target price on Rio Tinto from $70.00 to $85.00 and gave the stock a “buy” rating in a report on Thursday, December 11th. Finally, Royal Bank Of Canada reiterated a “sector perform” rating on shares of Rio Tinto in a research report on Thursday, January 22nd. Three equities research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $85.00.

Rio Tinto Trading Up 0.1%

RIO stock opened at $98.03 on Friday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.03 and a current ratio of 1.53. The company’s fifty day simple moving average is $85.41 and its 200 day simple moving average is $72.93. Rio Tinto PLC has a 12-month low of $51.67 and a 12-month high of $100.33.

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.