Rio Tinto Group Sees Unusually High Options Volume (NYSE:RIO)

Rio Tinto Group (NYSE:RIO) was the recipient of unusually large options trading activity on Thursday. Traders purchased 10,859 call options on the stock. This is an increase of 181% compared to the typical volume of 3,861 call options.

Institutional Trading of Rio Tinto Group

Several large investors have recently modified their holdings of RIO. Russell Investments Group Ltd. increased its position in Rio Tinto Group by 0.4% during the 1st quarter. Russell Investments Group Ltd. now owns 39,964 shares of the mining company’s stock worth $2,547,000 after purchasing an additional 147 shares in the last quarter. Geneos Wealth Management Inc. raised its position in shares of Rio Tinto Group by 55.4% in the first quarter. Geneos Wealth Management Inc. now owns 415 shares of the mining company’s stock valued at $26,000 after buying an additional 148 shares during the last quarter. EverSource Wealth Advisors LLC lifted its stake in shares of Rio Tinto Group by 8.5% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,922 shares of the mining company’s stock valued at $143,000 after buying an additional 150 shares during the period. Optas LLC boosted its position in Rio Tinto Group by 4.2% during the first quarter. Optas LLC now owns 3,833 shares of the mining company’s stock worth $244,000 after acquiring an additional 154 shares during the last quarter. Finally, Eagle Bluffs Wealth Management LLC grew its stake in Rio Tinto Group by 1.1% in the 2nd quarter. Eagle Bluffs Wealth Management LLC now owns 14,997 shares of the mining company’s stock worth $989,000 after acquiring an additional 163 shares during the period. 19.33% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have recently commented on RIO. HSBC raised Rio Tinto Group from a “hold” rating to a “buy” rating in a report on Tuesday, July 23rd. Berenberg Bank lowered shares of Rio Tinto Group from a “buy” rating to a “hold” rating in a research report on Thursday, June 27th. Royal Bank of Canada raised shares of Rio Tinto Group to a “hold” rating in a research note on Wednesday, July 31st. StockNews.com upgraded shares of Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a research note on Friday, September 6th. Finally, Hsbc Global Res upgraded shares of Rio Tinto Group to a “strong-buy” rating in a research report on Tuesday, July 23rd. Five equities research analysts have rated the stock with a hold rating, four have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy”.

Rio Tinto Group Stock Performance

NYSE:RIO opened at $65.19 on Friday. Rio Tinto Group has a 52-week low of $59.35 and a 52-week high of $75.09. The company has a quick ratio of 1.16, a current ratio of 1.70 and a debt-to-equity ratio of 0.23. The stock has a fifty day simple moving average of $63.20 and a 200-day simple moving average of $65.66.

Rio Tinto Group Cuts Dividend

The firm also recently declared a semi-annual dividend, which will be paid on Thursday, September 26th. Shareholders of record on Friday, August 16th will be issued a $1.77 dividend. This represents a dividend yield of 6.8%. The ex-dividend date is Friday, August 16th.

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.