Karras Company Inc. Takes $624,000 Position in Rio Tinto PLC $RIO

Karras Company Inc. purchased a new stake in Rio Tinto PLC (NYSE:RIO) during the fourth quarter, according to its most recent filing with the SEC. 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 made changes to their positions in the company. PFS Partners LLC purchased a new position in shares of Rio Tinto in the 4th quarter valued at $28,000. Nvest Wealth Strategies Inc. purchased a new position in shares of Rio Tinto in the 4th quarter valued at $28,000. Trust Co. of Toledo NA OH purchased a new position in shares of Rio Tinto in the 4th quarter valued at $34,000. Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of Rio Tinto in the 4th quarter valued at $37,000. Finally, Baillie Gifford & Co. increased its holdings in shares of Rio Tinto by 51.0% in the 4th quarter. Baillie Gifford & Co. now owns 524 shares of the mining company’s stock valued at $42,000 after acquiring an additional 177 shares during the period. 19.33% of the stock is currently owned by hedge funds and other institutional investors.

Rio Tinto Stock Down 0.5%

Shares of RIO stock opened at $104.24 on Friday. Rio Tinto PLC has a 1-year low of $55.64 and a 1-year high of $112.58. The stock’s fifty day moving average price is $97.13 and its 200 day moving average price is $88.32. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.98 and a current ratio of 1.44.

Analysts Set New Price Targets

RIO has been the topic of a number of analyst reports. Citigroup reiterated a “neutral” rating on shares of Rio Tinto in a report on Monday, April 13th. Barclays downgraded Rio Tinto from an “overweight” rating to an “equal weight” rating in a report on Tuesday, February 24th. JPMorgan Chase & Co. downgraded Rio Tinto from an “overweight” rating to a “neutral” rating in a report on Monday, March 9th. Zacks Research downgraded Rio Tinto from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 7th. Finally, Argus set a $120.00 target price on Rio Tinto in a research note on Monday, April 27th. Four investment analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company. According to MarketBeat.com, the company has a consensus 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.