Rio Tinto Group Target of Unusually High Options Trading (NYSE:RIO)

Rio Tinto Group (NYSE:RIO) was the recipient of unusually large options trading activity on Thursday. Investors purchased 50,122 put options on the company. This represents an increase of 703% compared to the typical daily volume of 6,243 put options.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Jefferies Financial Group decreased their target price on Rio Tinto Group from $83.00 to $73.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Berenberg Bank upgraded shares of Rio Tinto Group from a “hold” rating to a “buy” rating in a research report on Wednesday, October 2nd. StockNews.com downgraded shares of Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, November 12th. Finally, Macquarie reissued a “neutral” rating on shares of Rio Tinto Group in a research report on Wednesday, October 16th. Four equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $73.00.

Rio Tinto Group Stock Down 1.0 %

Shares of NYSE:RIO traded down $0.59 during midday trading on Thursday, hitting $59.87. 8,802,131 shares of the company’s stock were exchanged, compared to its average volume of 3,509,561. The company has a current ratio of 1.70, a quick ratio of 1.16 and a debt-to-equity ratio of 0.23. Rio Tinto Group has a 12 month low of $57.85 and a 12 month high of $74.24. The stock has a 50 day moving average price of $61.30 and a 200-day moving average price of $63.66.

Institutional Trading of Rio Tinto Group

Institutional investors and hedge funds have recently modified their holdings of the stock. Bank of Montreal Can raised its position in Rio Tinto Group by 237.0% in the 2nd quarter. Bank of Montreal Can now owns 2,472,471 shares of the mining company’s stock valued at $164,493,000 after buying an additional 1,738,752 shares during the last quarter. Palliser Capital UK Ltd raised its holdings in shares of Rio Tinto Group by 213.8% in the fourth quarter. Palliser Capital UK Ltd now owns 989,417 shares of the mining company’s stock valued at $58,188,000 after purchasing an additional 674,117 shares during the last quarter. Fisher Asset Management LLC lifted its position in shares of Rio Tinto Group by 2.9% during the third quarter. Fisher Asset Management LLC now owns 17,528,095 shares of the mining company’s stock valued at $1,247,475,000 after purchasing an additional 485,731 shares in the last quarter. Mediolanum International Funds Ltd purchased a new position in Rio Tinto Group during the third quarter worth about $33,590,000. Finally, SPX Gestao de Recursos Ltda grew its position in Rio Tinto Group by 1,773.2% in the 3rd quarter. SPX Gestao de Recursos Ltda now owns 426,922 shares of the mining company’s stock worth $30,384,000 after purchasing an additional 404,131 shares in 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.