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

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

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on RIO shares. Macquarie reissued a “neutral” rating on shares of Rio Tinto Group in a research note on Wednesday, October 16th. Berenberg Bank upgraded Rio Tinto Group from a “hold” rating to a “buy” rating in a report on Wednesday, October 2nd. Jefferies Financial Group lowered their price objective on Rio Tinto Group from $83.00 to $73.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Finally, StockNews.com downgraded Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, November 12th. Four 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 company’s stock. According to MarketBeat.com, Rio Tinto Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $73.00.

Rio Tinto Group Stock Down 1.3 %

RIO stock opened at $59.68 on Friday. The business has a fifty day simple moving average of $61.20 and a 200-day simple moving average of $63.64. Rio Tinto Group has a 52 week low of $57.85 and a 52 week high of $74.24. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.16 and a current ratio of 1.70.

Hedge Funds Weigh In On Rio Tinto Group

Several hedge funds and other institutional investors have recently modified their holdings of RIO. Bank of Montreal Can increased its position in Rio Tinto Group by 237.0% during the 2nd quarter. Bank of Montreal Can now owns 2,472,471 shares of the mining company’s stock worth $164,493,000 after purchasing an additional 1,738,752 shares in the last quarter. Philip James Wealth Mangement LLC purchased a new stake in Rio Tinto Group during the 3rd quarter worth $1,345,000. Fisher Asset Management LLC increased its holdings in Rio Tinto Group by 2.9% in the 3rd 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. Barclays PLC raised its position in Rio Tinto Group by 225.6% in the third quarter. Barclays PLC now owns 335,637 shares of the mining company’s stock valued at $23,888,000 after purchasing an additional 232,539 shares during the period. Finally, Northwest Bancshares Inc. acquired a new position in shares of Rio Tinto Group during the third quarter worth about $1,440,000. 19.33% of the stock is owned by institutional investors and hedge funds.

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.