Stock Traders Purchase High Volume of Put Options on Rio Tinto Group (NYSE:RIO)

Rio Tinto Group (NYSE:RIO) was the recipient of some unusual options trading activity on Tuesday. Stock traders bought 13,280 put options on the stock. This is an increase of approximately 184% compared to the average daily volume of 4,669 put options.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on RIO. StockNews.com raised shares of Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a report on Friday, September 6th. HSBC upgraded shares of Rio Tinto Group from a “hold” rating to a “buy” rating in a research note on Tuesday, July 23rd. Hsbc Global Res upgraded Rio Tinto Group to a “strong-buy” rating in a research note on Tuesday, July 23rd. Berenberg Bank upgraded Rio Tinto Group from a “hold” rating to a “buy” rating in a research report on Wednesday, October 2nd. Finally, Royal Bank of Canada raised Rio Tinto Group to a “hold” rating in a report on Wednesday, July 31st. Three investment analysts have rated the stock with a hold rating, five have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy”.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Russell Investments Group Ltd. lifted its holdings in shares of Rio Tinto Group by 0.4% in the first quarter. Russell Investments Group Ltd. now owns 39,964 shares of the mining company’s stock worth $2,547,000 after buying an additional 147 shares in the last quarter. Geneos Wealth Management Inc. boosted its holdings in shares of Rio Tinto Group by 55.4% during the 1st quarter. Geneos Wealth Management Inc. now owns 415 shares of the mining company’s stock valued at $26,000 after purchasing an additional 148 shares during the last quarter. Optas LLC grew its position in shares of Rio Tinto Group by 4.2% during the first quarter. Optas LLC now owns 3,833 shares of the mining company’s stock valued at $244,000 after purchasing an additional 154 shares in the last quarter. Eagle Bluffs Wealth Management LLC increased its holdings in shares of Rio Tinto Group by 1.1% in the second quarter. Eagle Bluffs Wealth Management LLC now owns 14,997 shares of the mining company’s stock worth $989,000 after purchasing an additional 163 shares during the last quarter. Finally, Bessemer Group Inc. lifted its position in shares of Rio Tinto Group by 2.4% in the first quarter. Bessemer Group Inc. now owns 7,304 shares of the mining company’s stock worth $465,000 after buying an additional 169 shares in the last quarter. 19.33% of the stock is currently owned by institutional investors.

Rio Tinto Group Trading Down 4.7 %

Shares of NYSE RIO traded down $3.29 during midday trading on Tuesday, reaching $66.33. The stock had a trading volume of 2,488,246 shares, compared to its average volume of 2,727,872. Rio Tinto Group has a 12-month low of $59.35 and a 12-month high of $75.09. The stock has a 50-day moving average of $64.12 and a 200-day moving average of $66.18. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.16 and a current ratio of 1.70.

Rio Tinto Group Cuts Dividend

The firm also recently announced a semi-annual dividend, which was paid on Thursday, September 26th. Investors of record on Friday, August 16th were paid a dividend of $1.77 per share. This represents a yield of 6.8%. The ex-dividend date was Friday, August 16th.

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.