Thrivent Financial for Lutherans Purchases 19,241 Shares of Rio Tinto PLC $RIO

Thrivent Financial for Lutherans lifted its position in shares of Rio Tinto PLC (NYSE:RIO) by 125.4% in the 2nd quarter, Holdings Channel reports. The fund owned 34,580 shares of the mining company’s stock after buying an additional 19,241 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Rio Tinto were worth $2,024,000 as of its most recent filing with the SEC.

Several other large investors also recently added to or reduced their stakes in the company. Kingstone Capital Partners Texas LLC bought a new stake in Rio Tinto in the 2nd quarter valued at about $292,770,000. Marshall Wace LLP bought a new stake in shares of Rio Tinto in the second quarter valued at approximately $49,089,000. Bank of Montreal Can lifted its stake in shares of Rio Tinto by 71.7% during the 2nd quarter. Bank of Montreal Can now owns 1,855,607 shares of the mining company’s stock valued at $108,238,000 after buying an additional 774,851 shares in the last quarter. Fisher Asset Management LLC boosted its holdings in Rio Tinto by 4.2% in the 2nd quarter. Fisher Asset Management LLC now owns 18,562,934 shares of the mining company’s stock worth $1,082,776,000 after buying an additional 752,505 shares during the period. Finally, Adage Capital Partners GP L.L.C. grew its stake in Rio Tinto by 555.8% in the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 524,602 shares of the mining company’s stock valued at $30,600,000 after buying an additional 444,602 shares in the last quarter. Hedge funds and other institutional investors own 19.33% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on RIO shares. Royal Bank Of Canada restated a “sector perform” rating on shares of Rio Tinto in a research report on Monday, December 1st. Morgan Stanley restated an “overweight” rating on shares of Rio Tinto in a research note on Tuesday, December 16th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Rio Tinto in a report on Monday. Citigroup reissued a “hold” rating on shares of Rio Tinto in a report on Monday, November 17th. Finally, Zacks Research cut shares of Rio Tinto from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 19th. Two research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat, Rio Tinto currently has an average rating of “Moderate Buy” and an average price target of $79.00.

Rio Tinto Stock Performance

NYSE:RIO 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. The business’s 50-day moving average price is $72.14 and its two-hundred day moving average price is $65.35. Rio Tinto PLC has a twelve month low of $51.67 and a twelve month high of $81.17.

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.