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

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

Other large investors have also added to or reduced their stakes in the company. Salomon & Ludwin LLC boosted its position in Rio Tinto by 62.2% during the third quarter. Salomon & Ludwin LLC now owns 472 shares of the mining company’s stock worth $31,000 after purchasing an additional 181 shares during the period. Root Financial Partners LLC bought a new stake in shares of Rio Tinto during the third quarter worth approximately $36,000. Pinpoint Asset Management Singapore Pte. Ltd. acquired a new position in shares of Rio Tinto in the second quarter valued at approximately $38,000. MTM Investment Management LLC bought a new position in shares of Rio Tinto during the second quarter worth approximately $43,000. Finally, Wealth Preservation Advisors LLC bought a new position in shares of Rio Tinto during the second quarter worth approximately $53,000. Institutional investors own 19.33% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Morgan Stanley lowered Rio Tinto from an “overweight” rating to an “equal weight” rating in a report on Wednesday, January 28th. HSBC cut shares of Rio Tinto from a “buy” rating to a “hold” rating in a research report on Monday, January 26th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Rio Tinto in a research report on Monday, December 29th. Argus boosted their price objective on shares of Rio Tinto from $70.00 to $85.00 and gave the company a “buy” rating in a report on Thursday, December 11th. Finally, Citigroup upgraded shares of Rio Tinto to a “hold” rating in a research report on Tuesday, February 10th. Three investment analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and eight have given a Hold rating to the company. According to MarketBeat.com, Rio Tinto currently has a consensus rating of “Moderate Buy” and a consensus target price of $85.00.

Rio Tinto Trading Up 0.1%

RIO stock opened at $98.03 on Friday. Rio Tinto PLC has a 52 week low of $51.67 and a 52 week high of $100.33. The business has a 50-day simple moving average of $85.41 and a 200 day simple moving average of $72.93. 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 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.