Rio Tinto Group (NYSE:RIO) Short Interest Down 17.1% in November

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

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. GHP Investment Advisors Inc. bought a new position in Rio Tinto Group in the 2nd quarter valued at approximately $26,000. Winch Advisory Services LLC bought a new position in shares of Rio Tinto Group during the third quarter valued at $26,000. FSC Wealth Advisors LLC acquired a new position in shares of Rio Tinto Group during the third quarter worth $28,000. Sound Income Strategies LLC grew its stake in shares of Rio Tinto Group by 70.9% in the third quarter. Sound Income Strategies LLC now owns 417 shares of the mining company’s stock worth $30,000 after purchasing an additional 173 shares during the last quarter. Finally, Centerpoint Advisors LLC increased its holdings in Rio Tinto Group by 110.0% in the second quarter. Centerpoint Advisors LLC now owns 525 shares of the mining company’s stock valued at $35,000 after purchasing an additional 275 shares during the period. 19.33% of the stock is currently owned by institutional investors.

Rio Tinto Group Trading Down 2.0 %

Shares of NYSE:RIO opened at $62.21 on Friday. Rio Tinto Group has a one year low of $59.35 and a one year high of $75.09. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.70 and a quick ratio of 1.16. The firm has a 50 day simple moving average of $64.30 and a 200 day simple moving average of $64.97.

Analyst Ratings Changes

RIO has been the topic of a number of recent analyst reports. Macquarie reissued a “neutral” rating on shares of Rio Tinto Group in a research note on Wednesday, October 16th. StockNews.com lowered Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, November 12th. Finally, Berenberg Bank upgraded Rio Tinto Group from a “hold” rating to a “buy” rating in a research report on Wednesday, October 2nd. Four investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Rio Tinto Group currently has an average rating of “Moderate Buy”.

About Rio Tinto Group

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.