Rio Tinto PLC (NYSE:RIO) Short Interest Update

Rio Tinto PLC (NYSE:RIO) was the target of a large drop in short interest during the month of March. As of March 31st, there was short interest totaling 10,150,098 shares, a drop of 15.4% from the March 15th total of 11,998,736 shares. Based on an average daily trading volume, of 3,433,828 shares, the days-to-cover ratio is presently 3.0 days. Approximately 0.8% of the shares of the company are sold short.

Rio Tinto Stock Performance

NYSE RIO traded up $0.43 during midday trading on Friday, hitting $100.14. The company had a trading volume of 2,791,748 shares, compared to its average volume of 2,782,392. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.98 and a current ratio of 1.44. The firm has a fifty day simple moving average of $94.23 and a two-hundred day simple moving average of $82.72. Rio Tinto has a fifty-two week low of $55.64 and a fifty-two week high of $101.53.

Rio Tinto Dividend Announcement

The business also recently declared a dividend, which was paid on Thursday, April 16th. Shareholders of record on Friday, March 6th were given a $2.54 dividend. This represents a yield of 564.0%. The ex-dividend date was Friday, March 6th.

Wall Street Analysts Forecast Growth

RIO has been the topic of a number of research analyst reports. DZ Bank lowered shares of Rio Tinto from a “strong-buy” rating to a “hold” rating in a research note on Friday, February 20th. Sanford C. Bernstein lowered their target price on shares of Rio Tinto from $83.00 to $77.00 and set an “outperform” rating on the stock in a research note on Monday, March 9th. Barclays lowered shares of Rio Tinto from an “overweight” rating to an “equal weight” rating in a research note on Tuesday, February 24th. Citigroup reiterated a “neutral” rating on shares of Rio Tinto in a research note on Monday. Finally, Royal Bank Of Canada reiterated a “sector perform” rating on shares of Rio Tinto in a research note on Thursday, January 22nd. Four analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $81.00.

Institutional Trading of Rio Tinto

Hedge funds and other institutional investors have recently bought and sold shares of the stock. AdvisorNet Financial Inc grew its position in Rio Tinto by 160.2% in the 1st quarter. AdvisorNet Financial Inc now owns 294 shares of the mining company’s stock worth $27,000 after purchasing an additional 181 shares during the last quarter. PFS Partners LLC acquired a new stake in Rio Tinto in the 4th quarter worth $28,000. Nvest Wealth Strategies Inc. acquired a new stake in Rio Tinto in the 4th quarter worth $28,000. Evelyn Partners Investment Management LLP acquired a new stake in shares of Rio Tinto during the 4th quarter valued at about $34,000. Finally, Trust Co. of Toledo NA OH acquired a new stake in shares of Rio Tinto during the 4th quarter valued at about $34,000. 19.33% of the stock is currently owned by institutional investors and hedge funds.

Rio Tinto Company Profile

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.