Rio Tinto PLC (NYSE:RIO) saw a significant growth in short interest in August. As of August 31st, there was short interest totalling 13,212,586 shares, a growth 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 short-interest ratio is currently 4.0 days.

Shares of Rio Tinto PLC (RIO) opened at 47.63 on Monday. The company has a market capitalization of $85.40 billion, a PE ratio of 13.89 and a beta of 0.98. Rio Tinto PLC has a one year low of $29.79 and a one year high of $49.89. The company has a 50-day moving average of $47.15 and a 200-day moving average of $42.64.

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

RIO has been the topic of several research reports. ValuEngine raised Rio Tinto PLC from a “buy” rating to a “strong-buy” rating in a report on Thursday, July 6th. Jefferies Group LLC set a $52.00 target price on shares of Rio Tinto PLC and gave the company a “buy” rating in a research note on Friday, August 18th. Axiom Securities reissued a “sell” rating on shares of Rio Tinto PLC in a research note on Thursday, July 13th. BidaskClub downgraded shares of Rio Tinto PLC from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, July 25th. Finally, Clarkson Capital reissued a “buy” rating on shares of Rio Tinto PLC in a research note on Wednesday, August 2nd. One research analyst has rated the stock with a sell rating, four have issued a hold rating and sixteen have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $47.50.

A number of hedge funds have recently modified their holdings of RIO. UBS Asset Management Americas Inc. acquired a new stake in Rio Tinto PLC in the 4th quarter valued at $119,000. Capital Fund Management S.A. increased its stake in Rio Tinto PLC by 211.0% in the 1st quarter. Capital Fund Management S.A. now owns 7,770 shares of the mining company’s stock valued at $316,000 after buying an additional 14,770 shares during the last quarter. BNP Paribas Arbitrage SA increased its stake in Rio Tinto PLC by 121.7% in the 1st quarter. BNP Paribas Arbitrage SA now owns 36,243 shares of the mining company’s stock valued at $1,474,000 after buying an additional 19,893 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in Rio Tinto PLC in the 1st quarter valued at $372,000. Finally, Ameriprise Financial Inc. increased its stake in Rio Tinto PLC by 2.7% in the 1st quarter. Ameriprise Financial Inc. now owns 130,621 shares of the mining company’s stock valued at $5,339,000 after buying an additional 3,441 shares during the last quarter. Hedge funds and other institutional investors own 6.88% of the company’s stock.

COPYRIGHT VIOLATION NOTICE: “Rio Tinto PLC (RIO) Sees Large Growth in Short Interest” was reported by American Banking News and is the property of of American Banking News. If you are accessing this story on another website, it was illegally copied and republished in violation of US & international copyright & trademark laws. The legal version of this story can be accessed at https://www.americanbankingnews.com/2017/09/18/rio-tinto-plc-rio-sees-large-growth-in-short-interest.html.

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.

Receive News & Ratings for Rio Tinto PLC Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Rio Tinto PLC and related companies with MarketBeat.com's FREE daily email newsletter.