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

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

Rio Tinto Group Stock Performance

NYSE:RIO opened at $62.20 on Friday. The stock’s fifty day moving average is $64.30 and its 200 day moving average is $65.01. Rio Tinto Group has a fifty-two week low of $59.35 and a fifty-two week high of $75.09. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.16 and a current ratio of 1.70.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. Macquarie reaffirmed a “neutral” rating on shares of Rio Tinto Group in a research note on Wednesday, October 16th. StockNews.com cut shares of Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, November 12th. Finally, Berenberg Bank raised shares of Rio Tinto Group from a “hold” rating to a “buy” rating in a report on Wednesday, October 2nd. Four analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy”.

Hedge Funds Weigh In On Rio Tinto Group

Large investors have recently made changes to their positions in the company. GHP Investment Advisors Inc. bought a new stake in Rio Tinto Group in the second quarter worth about $26,000. Winch Advisory Services LLC bought a new stake in shares of Rio Tinto Group during the 3rd quarter worth approximately $26,000. FSC Wealth Advisors LLC purchased a new position in Rio Tinto Group during the 3rd quarter valued at $28,000. Sound Income Strategies LLC boosted its holdings in Rio Tinto Group by 70.9% during the 3rd quarter. Sound Income Strategies LLC now owns 417 shares of the mining company’s stock valued at $30,000 after acquiring an additional 173 shares during the period. Finally, Centerpoint Advisors LLC grew its position in Rio Tinto Group by 110.0% in the 2nd quarter. Centerpoint Advisors LLC now owns 525 shares of the mining company’s stock valued at $35,000 after acquiring an additional 275 shares during the last quarter. 19.33% of the stock is owned by hedge funds and other institutional investors.

Rio Tinto Group Company Profile

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.