Short Interest in Rio Tinto PLC (RIO) Grows By 41.0%

Rio Tinto PLC (NYSE:RIO) was the recipient of a significant 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 daily trading volume, of 3,321,848 shares, the days-to-cover ratio is currently 4.0 days.

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

Shares of Rio Tinto PLC (NYSE:RIO) opened at 47.82 on Friday. The company has a market cap of $85.74 billion, a PE ratio of 13.94 and a beta of 0.98. Rio Tinto PLC has a 12 month low of $31.24 and a 12 month high of $49.89. The firm’s 50-day moving average price is $47.23 and its 200 day moving average price is $42.74.

The firm also recently declared a None dividend, which was paid on Thursday, September 21st. Shareholders of record on Friday, August 11th were paid a $1.10 dividend. The ex-dividend date was Wednesday, August 9th.

Several research analysts recently issued reports on RIO shares. Clarkson Capital reissued a “buy” rating on shares of Rio Tinto PLC in a research note on Wednesday, August 2nd. Goldman Sachs Group, Inc. (The) reissued a “neutral” rating on shares of Rio Tinto PLC in a research note on Monday, August 14th. Royal Bank Of Canada cut Rio Tinto PLC from a “top pick” rating to an “outperform” rating in a research note on Tuesday, August 15th. Zacks Investment Research raised Rio Tinto PLC from a “strong sell” rating to a “hold” rating in a research note on Saturday, August 5th. Finally, BidaskClub raised Rio Tinto PLC from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, July 12th. One research analyst has rated the stock with a sell rating, four have given a hold rating and sixteen have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $47.50.

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About Rio Tinto PLC

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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