Rio Tinto PLC (RIO) Short Interest Up 41.0% in August

Rio Tinto PLC (NYSE:RIO) was the recipient of a large increase in short interest in the month of August. As of August 31st, there was short interest totalling 13,212,586 shares, an increase of 41.0% from the August 15th total of 9,370,998 shares. Based on an average trading volume of 3,321,848 shares, the short-interest ratio is currently 4.0 days.

Rio Tinto PLC (NYSE:RIO) opened at 47.82 on Thursday. Rio Tinto PLC has a 52-week low of $31.24 and a 52-week high of $49.89. The company has a market capitalization of $85.74 billion, a price-to-earnings ratio of 13.94 and a beta of 0.98. The stock has a 50 day moving average price of $47.23 and a 200 day moving average price of $42.74.

The company also recently announced a None dividend, which will be paid on Thursday, September 21st. Stockholders of record on Friday, August 11th will be issued a dividend of $1.10 per share. The ex-dividend date of this dividend is Wednesday, August 9th.

Several institutional investors have recently bought and sold shares of RIO. Knowledge Leaders Capital LLC boosted its holdings in shares of Rio Tinto PLC by 126.0% during the second quarter. Knowledge Leaders Capital LLC now owns 2,393 shares of the mining company’s stock worth $101,000 after purchasing an additional 1,334 shares during the period. Acrospire Investment Management LLC boosted its holdings in shares of Rio Tinto PLC by 13.0% during the second quarter. Acrospire Investment Management LLC now owns 2,599 shares of the mining company’s stock worth $110,000 after purchasing an additional 299 shares during the period. Quantbot Technologies LP purchased a new stake in shares of Rio Tinto PLC during the first quarter worth about $111,000. Hudock Capital Group LLC boosted its holdings in shares of Rio Tinto PLC by 125.4% during the second quarter. Hudock Capital Group LLC now owns 2,795 shares of the mining company’s stock worth $118,000 after purchasing an additional 1,555 shares during the period. Finally, UBS Asset Management Americas Inc. purchased a new stake in shares of Rio Tinto PLC during the fourth quarter worth about $119,000. Institutional investors own 6.87% of the company’s stock.

A number of equities research analysts have weighed in on the company. Zacks Investment Research downgraded Rio Tinto PLC from a “hold” rating to a “strong sell” rating in a report on Wednesday, June 21st. ValuEngine downgraded Rio Tinto PLC from a “strong-buy” rating to a “buy” rating in a report on Friday, September 1st. Bank of America Corporation raised Rio Tinto PLC from an “underperform” rating to a “buy” rating in a report on Friday, June 30th. Goldman Sachs Group, Inc. (The) reaffirmed a “neutral” rating on shares of Rio Tinto PLC in a report on Monday, August 14th. Finally, Cowen and Company reaffirmed a “market perform” rating and issued a $45.00 target price (down previously from $47.00) on shares of Rio Tinto PLC in a report on Tuesday, July 25th. One analyst has rated the stock with a sell rating, four have issued a hold rating and sixteen have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $47.50.

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Rio Tinto PLC Company Profile

Rio Tinto plc is a mining and metals company. The Company’s business is finding, mining and processing mineral resources. The Company’s segments include Iron Ore, Aluminium, Copper & Diamonds, Energy & Minerals and Other Operations. The Company operates an iron ore business, supplying the global seaborne iron ore trade.

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