Rio Tinto Group (NYSE:RIO) Stake Boosted by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans grew its stake in shares of Rio Tinto Group (NYSE:RIO – Get Rating) by 5.2% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 14,882 shares of the mining company’s stock after acquiring an additional 736 shares during the period. Thrivent Financial for Lutherans’ holdings in Rio Tinto Group were worth $1,058,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. Cowa LLC acquired a new position in shares of Rio Tinto Group during the first quarter valued at about $26,000. Standard Family Office LLC acquired a new position in shares of Rio Tinto Group during the third quarter valued at about $37,000. Penserra Capital Management LLC acquired a new position in shares of Rio Tinto Group during the third quarter valued at about $38,000. Brown Brothers Harriman & Co. raised its position in shares of Rio Tinto Group by 90.6% during the first quarter. Brown Brothers Harriman & Co. now owns 686 shares of the mining company’s stock valued at $55,000 after buying an additional 326 shares during the last quarter. Finally, Newbridge Financial Services Group Inc. raised its position in shares of Rio Tinto Group by 166.7% during the fourth quarter. Newbridge Financial Services Group Inc. now owns 800 shares of the mining company’s stock valued at $57,000 after buying an additional 500 shares during the last quarter. 10.43% of the stock is currently owned by institutional investors.

Rio Tinto Group Stock Down 0.5 %

Shares of Rio Tinto Group stock opened at $61.91 on Tuesday. The company has a quick ratio of 1.10, a current ratio of 1.64 and a debt-to-equity ratio of 0.21. Rio Tinto Group has a 1-year low of $50.92 and a 1-year high of $80.51. The firm’s 50-day moving average price is $65.27 and its two-hundred day moving average price is $69.19.

Rio Tinto Group Cuts Dividend

The business also recently declared a semi-annual dividend, which was paid on Thursday, April 20th. Stockholders of record on Friday, March 10th were paid a dividend of $2.25 per share. The ex-dividend date was Thursday, March 9th. This represents a dividend yield of 9.8%.

Analysts Set New Price Targets

A number of brokerages have recently commented on RIO. JPMorgan Chase & Co. raised shares of Rio Tinto Group from an “underweight” rating to a “neutral” rating in a research report on Monday, May 15th. StockNews.com initiated coverage on shares of Rio Tinto Group in a research report on Thursday, May 18th. They issued a “buy” rating for the company. Sanford C. Bernstein raised shares of Rio Tinto Group from a “market perform” rating to an “outperform” rating in a research report on Friday, May 5th. The Goldman Sachs Group raised shares of Rio Tinto Group from a “buy” rating to a “conviction-buy” rating in a research report on Thursday, March 2nd. Finally, BNP Paribas lowered shares of Rio Tinto Group from an “outperform” rating to a “neutral” rating in a research report on Monday, February 13th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $5,790.00.

Rio Tinto Group Company Profile

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Rio Tinto Plc engages in the exploration, mining, and processing of mineral resources. It operates through the following business segments: Iron Ore, Aluminium, Copper and Diamonds, Energy and Minerals, and Other Operations. The Iron Ore segment supplies global seaborne iron ore trade. The Aluminium segment produces bauxite, alumina and primary aluminum.