Short Interest in Rio Tinto Group (NYSE:RIO) Decreases By 17.1%

Rio Tinto Group (NYSE:RIO) saw a large decline in short interest during the month of November. As of November 30th, there was short interest totalling 7,450,000 shares, a decline of 17.1% from the November 15th total of 8,990,000 shares. Based on an average trading volume of 2,860,000 shares, the short-interest ratio is currently 2.6 days.

Rio Tinto Group Stock Down 2.0 %

RIO opened at $62.20 on Friday. The firm’s 50 day simple moving average is $64.30 and its two-hundred day simple moving average is $65.01. Rio Tinto Group has a 1-year low of $59.35 and a 1-year high of $75.09. The company has a current ratio of 1.70, a quick ratio of 1.16 and a debt-to-equity ratio of 0.23.

Hedge Funds Weigh In On Rio Tinto Group

Institutional investors have recently bought and sold shares of the stock. Bank of Montreal Can raised its stake in shares of Rio Tinto Group by 237.0% in the second quarter. Bank of Montreal Can now owns 2,472,471 shares of the mining company’s stock worth $164,493,000 after buying an additional 1,738,752 shares during the period. Natixis Advisors LLC raised its stake in Rio Tinto Group by 8.7% during the 2nd quarter. Natixis Advisors LLC now owns 695,731 shares of the mining company’s stock worth $45,870,000 after acquiring an additional 55,967 shares during the period. Philip James Wealth Mangement LLC purchased a new position in Rio Tinto Group during the third quarter valued at approximately $1,345,000. Fisher Asset Management LLC boosted its position in shares of Rio Tinto Group by 2.9% in the third quarter. Fisher Asset Management LLC now owns 17,528,095 shares of the mining company’s stock worth $1,247,475,000 after purchasing an additional 485,731 shares during the period. Finally, Northwest Bancshares Inc. purchased a new stake in shares of Rio Tinto Group in the third quarter worth $1,440,000. 19.33% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Macquarie reiterated a “neutral” rating on shares of Rio Tinto Group in a report on Wednesday, October 16th. StockNews.com downgraded shares of Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a report on Tuesday, November 12th. Finally, Berenberg Bank raised shares of Rio Tinto Group from a “hold” rating to a “buy” rating in a report on Wednesday, October 2nd. Four research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy”.

Rio Tinto Group Company Profile

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.