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

Rio Tinto Group (NYSE:RIO) saw unusually large options trading on Thursday. Stock traders bought 10,859 call options on the stock. This represents an increase of 181% compared to the average daily volume of 3,861 call options.

Hedge Funds Weigh In On Rio Tinto Group

Several large investors have recently added to or reduced their stakes in the company. Northwest Investment Counselors LLC bought a new position in shares of Rio Tinto Group in the first quarter worth about $26,000. Geneos Wealth Management Inc. raised its stake 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 period. GHP Investment Advisors Inc. bought a new stake in Rio Tinto Group during the 2nd quarter valued at approximately $26,000. YHB Investment Advisors Inc. purchased a new position in Rio Tinto Group in the 1st quarter worth approximately $29,000. Finally, LifeSteps Financial Inc. bought a new position in Rio Tinto Group in the 1st quarter worth approximately $33,000. Hedge funds and other institutional investors own 19.33% of the company’s stock.

Rio Tinto Group Price Performance

NYSE:RIO traded up $2.40 during mid-day trading on Thursday, hitting $65.31. 2,820,395 shares of the company traded hands, compared to its average volume of 2,684,671. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.16 and a current ratio of 1.70. The stock’s fifty day moving average price is $63.26 and its 200-day moving average price is $65.67. Rio Tinto Group has a one year low of $59.35 and a one year high of $75.09.

Rio Tinto Group Cuts Dividend

The company also recently announced a semi-annual dividend, which will be paid on Thursday, September 26th. Investors of record on Friday, August 16th will be issued a $1.77 dividend. This represents a yield of 6.8%. The ex-dividend date of this dividend is Friday, August 16th.

Analyst Upgrades and Downgrades

RIO has been the subject of several research reports. Berenberg Bank cut shares of Rio Tinto Group from a “buy” rating to a “hold” rating in a report on Thursday, June 27th. StockNews.com raised Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a report on Friday, September 6th. Hsbc Global Res raised Rio Tinto Group to a “strong-buy” rating in a report on Tuesday, July 23rd. HSBC raised Rio Tinto Group from a “hold” rating to a “buy” rating in a report on Tuesday, July 23rd. Finally, Royal Bank of Canada upgraded Rio Tinto Group to a “hold” rating in a research note on Wednesday, July 31st. Five investment analysts have rated the stock with a hold rating, four have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy”.

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.