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

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

Analysts Set New Price Targets

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

Rio Tinto Group Stock Down 2.5 %

Shares of Rio Tinto Group stock opened at $63.58 on Friday. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.70 and a quick ratio of 1.16. The firm has a fifty day moving average price of $63.10 and a two-hundred day moving average price of $65.66. Rio Tinto Group has a fifty-two week low of $59.35 and a fifty-two week high of $75.09.

Rio Tinto Group Cuts Dividend

The company 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. The ex-dividend date is Friday, August 16th. This represents a yield of 6.8%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of RIO. Northwest Investment Counselors LLC acquired a new stake in Rio Tinto Group during the first quarter valued at approximately $26,000. Geneos Wealth Management Inc. lifted its holdings in 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. GHP Investment Advisors Inc. bought a new position in Rio Tinto Group during the 2nd quarter valued at about $26,000. YHB Investment Advisors Inc. bought a new stake in Rio Tinto Group during the first quarter worth about $29,000. Finally, LifeSteps Financial Inc. acquired a new stake in shares of Rio Tinto Group during the first quarter worth approximately $33,000. 19.33% of the stock is owned by institutional investors.

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.