Rio Tinto Group (NYSE:RIO) Short Interest Down 17.1% in November

Rio Tinto Group (NYSE:RIO) was the target of a significant drop in short interest in the month of November. As of November 30th, there was short interest totalling 7,450,000 shares, a drop of 17.1% from the November 15th total of 8,990,000 shares. Based on an average daily volume of 2,860,000 shares, the days-to-cover ratio is presently 2.6 days.

Rio Tinto Group Trading Down 2.0 %

Shares of RIO stock opened at $62.21 on Monday. The firm has a fifty day moving average price of $64.30 and a 200 day moving average price of $64.93. The company has a current ratio of 1.70, a quick ratio of 1.16 and a debt-to-equity ratio of 0.23. Rio Tinto Group has a 12 month low of $59.35 and a 12 month high of $75.09.

Analyst Ratings Changes

A number of research firms have issued reports on RIO. Berenberg Bank upgraded shares of Rio Tinto Group from a “hold” rating to a “buy” rating in a report on Wednesday, October 2nd. StockNews.com cut Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, November 12th. Finally, Macquarie reissued a “neutral” rating on shares of Rio Tinto Group in a research note on Wednesday, October 16th. Four analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy”.

Institutional Investors Weigh In On Rio Tinto Group

Several institutional investors have recently added to or reduced their stakes in the business. GHP Investment Advisors Inc. purchased a new stake in shares of Rio Tinto Group during the 2nd quarter worth approximately $26,000. Winch Advisory Services LLC acquired a new stake in Rio Tinto Group during the 3rd quarter worth $26,000. FSC Wealth Advisors LLC purchased a new stake in Rio Tinto Group in the third quarter valued at $28,000. Sound Income Strategies LLC boosted its stake in Rio Tinto Group by 70.9% in the third quarter. Sound Income Strategies LLC now owns 417 shares of the mining company’s stock valued at $30,000 after acquiring an additional 173 shares in the last quarter. Finally, Centerpoint Advisors LLC grew its holdings in shares of Rio Tinto Group by 110.0% during the second quarter. Centerpoint Advisors LLC now owns 525 shares of the mining company’s stock worth $35,000 after purchasing an additional 275 shares during the last quarter. Hedge funds and other institutional investors own 19.33% of the company’s stock.

About Rio Tinto Group

Rio Tinto Group engages in exploring, mining, and processing mineral resources worldwide. The company operates through Iron Ore, Aluminium, Copper, and Minerals Segments. The Iron Ore segment engages in the iron ore mining, and salt and gypsum production in Western Australia. The Aluminum segment is involved in bauxite mining; alumina refining; and aluminium smelting.