7,797 Shares in Rio Tinto PLC $RIO Acquired by Karras Company Inc.

Karras Company Inc. purchased a new position in shares of Rio Tinto PLC (NYSE:RIO) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 7,797 shares of the mining company’s stock, valued at approximately $624,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. PFS Partners LLC bought a new stake in shares of Rio Tinto during the 4th quarter worth approximately $28,000. Nvest Wealth Strategies Inc. bought a new stake in shares of Rio Tinto during the 4th quarter worth approximately $28,000. Trust Co. of Toledo NA OH bought a new stake in shares of Rio Tinto during the 4th quarter worth approximately $34,000. Root Financial Partners LLC bought a new stake in shares of Rio Tinto during the 3rd quarter worth approximately $36,000. Finally, Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of Rio Tinto during the 4th quarter worth approximately $37,000. 19.33% of the stock is owned by institutional investors.

Rio Tinto Stock Down 0.5%

Shares of NYSE RIO opened at $104.24 on Friday. The company has a quick ratio of 0.98, a current ratio of 1.44 and a debt-to-equity ratio of 0.33. The business has a fifty day simple moving average of $97.13 and a two-hundred day simple moving average of $88.32. Rio Tinto PLC has a twelve month low of $55.64 and a twelve month high of $112.58.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. HSBC lowered Rio Tinto from a “buy” rating to a “hold” rating in a research note on Monday, January 26th. Morgan Stanley lowered Rio Tinto from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, January 28th. Argus set a $120.00 target price on Rio Tinto in a research report on Monday, April 27th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating on shares of Rio Tinto in a research report on Friday, May 15th. Finally, Bank of America lowered Rio Tinto from a “buy” rating to a “neutral” rating in a research report on Friday. Four equities research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the stock. Based on data from MarketBeat, Rio Tinto presently has an average rating of “Hold” and an average price target of $101.75.

About Rio Tinto

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.