Rio Tinto PLC (NYSE:RIO) Short Interest Update

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

Rio Tinto Trading Up 0.4%

Rio Tinto stock opened at $100.14 on Friday. The firm’s fifty day moving average price is $94.23 and its 200-day moving average price is $82.84. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.98 and a current ratio of 1.44. 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 company also recently declared a dividend, which was paid on Thursday, April 16th. Shareholders of record on Friday, March 6th were given a dividend of $2.54 per share. The ex-dividend date was Friday, March 6th. This represents a yield of 564.0%.

Analysts Set New Price Targets

A number of research firms have recently commented on RIO. DZ Bank lowered shares of Rio Tinto from a “strong-buy” rating to a “hold” rating in a research report on Friday, February 20th. Erste Group Bank upgraded Rio Tinto from a “hold” rating to a “buy” rating in a research report on Friday, January 23rd. Citigroup restated a “neutral” rating on shares of Rio Tinto in a research report on Monday, April 13th. Zacks Research lowered Rio Tinto from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 7th. Finally, Royal Bank Of Canada reaffirmed a “sector perform” rating on shares of Rio Tinto in a report on Thursday, January 22nd. Four investment analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $81.00.

Hedge Funds Weigh In On Rio Tinto

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Capital Advisors Inc. OK lifted its holdings in shares of Rio Tinto by 20.6% in the 3rd quarter. Capital Advisors Inc. OK now owns 520,428 shares of the mining company’s stock worth $34,353,000 after acquiring an additional 89,069 shares during the last quarter. QSM Asset Management Ltd bought a new position in shares of Rio Tinto during the 3rd quarter valued at $11,509,000. Campbell & CO Investment Adviser LLC raised its position in Rio Tinto by 479.6% in the 3rd quarter. Campbell & CO Investment Adviser LLC now owns 144,553 shares of the mining company’s stock worth $9,542,000 after purchasing an additional 119,614 shares during the period. Synergy Asset Management LLC raised its position in Rio Tinto by 272.2% in the 3rd quarter. Synergy Asset Management LLC now owns 205,418 shares of the mining company’s stock worth $12,712,000 after purchasing an additional 150,234 shares during the period. Finally, Caprock Group LLC bought a new stake in Rio Tinto in the third quarter worth $1,416,000. 19.33% of the stock is currently owned by hedge funds and other institutional investors.

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.