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

Rio Tinto Group (NYSE:RIO) was the recipient of some unusual options trading activity on Thursday. Stock traders purchased 50,122 put options on the company. This is an increase of approximately 703% compared to the typical daily volume of 6,243 put options.

Rio Tinto Group Price Performance

Shares of NYSE RIO opened at $61.00 on Friday. Rio Tinto Group has a 52 week low of $57.85 and a 52 week high of $74.24. The firm has a 50-day simple moving average of $61.05 and a 200-day simple moving average of $63.61. The company has a current ratio of 1.70, a quick ratio of 1.16 and a debt-to-equity ratio of 0.23.

Institutional Trading of Rio Tinto Group

A number of hedge funds have recently bought and sold shares of RIO. Winch Advisory Services LLC purchased a new stake in shares of Rio Tinto Group in the third quarter valued at approximately $26,000. FSC Wealth Advisors LLC acquired a new position in Rio Tinto Group during the third quarter worth $28,000. Sound Income Strategies LLC grew its holdings in Rio Tinto Group by 70.9% in the 3rd quarter. Sound Income Strategies LLC now owns 417 shares of the mining company’s stock valued at $30,000 after buying an additional 173 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. increased its stake in shares of Rio Tinto Group by 63.9% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 500 shares of the mining company’s stock worth $29,000 after acquiring an additional 195 shares during the last quarter. Finally, Northwest Investment Counselors LLC purchased a new position in shares of Rio Tinto Group during the 3rd quarter worth $38,000. Institutional investors and hedge funds own 19.33% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on RIO. StockNews.com upgraded shares of Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a research report on Friday. Macquarie restated a “neutral” rating on shares of Rio Tinto Group in a research report on Wednesday, October 16th. Jefferies Financial Group decreased their price target on shares of Rio Tinto Group from $83.00 to $73.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Finally, Berenberg Bank upgraded Rio Tinto Group from a “hold” rating to a “buy” rating in a research note on Wednesday, October 2nd. Four analysts have rated the stock with a hold rating, three have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $73.00.

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.