Stock Traders Buy Large Volume of Rio Tinto Group Call Options (NYSE:RIO)

Rio Tinto Group (NYSE:RIO – Get Rating) was the target of unusually large options trading on Wednesday. Investors purchased 35,601 call options on the stock. This is an increase of approximately 486% compared to the typical daily volume of 6,071 call options.

Analyst Upgrades and Downgrades

RIO has been the topic of several research analyst reports. Morgan Stanley lifted their price target on Rio Tinto Group from GBX 5,750 ($69.14) to GBX 5,790 ($69.62) in a research report on Monday, January 23rd. UBS Group cut Rio Tinto Group from a “neutral” rating to a “sell” rating in a research report on Tuesday, December 13th. Berenberg Bank upgraded Rio Tinto Group from a “sell” rating to a “buy” rating in a research report on Thursday, January 12th. The Goldman Sachs Group raised Rio Tinto Group from a “buy” rating to a “conviction-buy” rating in a research note on Thursday, March 2nd. Finally, BNP Paribas lowered Rio Tinto Group from an “outperform” rating to a “neutral” rating in a research note on Monday, February 13th. Four research analysts have rated the stock with a sell rating, seven have given a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $5,790.00.

Rio Tinto Group Stock Up 1.4 %

Rio Tinto Group stock opened at $71.58 on Thursday. The company has a current ratio of 1.64, a quick ratio of 1.10 and a debt-to-equity ratio of 0.21. The business’s 50-day simple moving average is $74.69 and its 200-day simple moving average is $65.49. Rio Tinto Group has a 52 week low of $50.92 and a 52 week high of $83.21.

Rio Tinto Group Cuts Dividend

The company also recently declared a semi-annual dividend, which will be paid on Thursday, April 20th. Investors of record on Friday, March 10th will be paid a dividend of $2.25 per share. The ex-dividend date is Thursday, March 9th. This represents a yield of 9.8%.

Hedge Funds Weigh In On Rio Tinto Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. CNB Bank acquired a new stake in Rio Tinto Group during the fourth quarter valued at approximately $28,000. First Manhattan Co. boosted its holdings in shares of Rio Tinto Group by 555.4% in the 4th quarter. First Manhattan Co. now owns 426 shares of the mining company’s stock worth $30,000 after acquiring an additional 361 shares in the last quarter. Twin Lakes Capital Management LLC acquired a new position in shares of Rio Tinto Group in the 3rd quarter worth approximately $28,000. JFS Wealth Advisors LLC boosted its holdings in shares of Rio Tinto Group by 2,536.4% in the 4th quarter. JFS Wealth Advisors LLC now owns 580 shares of the mining company’s stock worth $41,000 after acquiring an additional 558 shares in the last quarter. Finally, Ronald Blue Trust Inc. acquired a new position in Rio Tinto Group during the 2nd quarter worth $50,000. 10.43% of the stock is currently owned by institutional investors.

Rio Tinto Group Company Profile

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Rio Tinto Plc engages in the exploration, mining, and processing of mineral resources. It operates through the following business segments: Iron Ore, Aluminium, Copper and Diamonds, Energy and Minerals, and Other Operations. The Iron Ore segment supplies global seaborne iron ore trade. The Aluminium segment produces bauxite, alumina and primary aluminum.