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

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

Rio Tinto Group Stock Down 1.0 %

RIO traded down $0.59 during trading on Thursday, hitting $59.87. The company had a trading volume of 8,802,131 shares, compared to its average volume of 3,509,561. The company has a current ratio of 1.70, a quick ratio of 1.16 and a debt-to-equity ratio of 0.23. Rio Tinto Group has a one year low of $57.85 and a one year high of $74.24. The firm’s 50-day moving average price is $61.30 and its 200 day moving average price is $63.66.

Institutional Trading of Rio Tinto Group

A number of institutional investors have recently modified their holdings of the company. Winch Advisory Services LLC bought a new position in shares of Rio Tinto Group in the 3rd quarter valued at about $26,000. FSC Wealth Advisors LLC acquired a new stake in shares of Rio Tinto Group during the 3rd quarter worth about $28,000. Thurston Springer Miller Herd & Titak Inc. boosted its holdings in shares of Rio Tinto Group by 63.9% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 500 shares of the mining company’s stock worth $29,000 after buying an additional 195 shares during the period. Sound Income Strategies LLC grew its stake 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 during the last quarter. Finally, Northwest Investment Counselors LLC acquired a new position in Rio Tinto Group in the 3rd quarter valued at $38,000. 19.33% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. StockNews.com cut Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a report on Tuesday, November 12th. Jefferies Financial Group lowered their target price on Rio Tinto Group from $83.00 to $73.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Berenberg Bank upgraded shares of Rio Tinto Group from a “hold” rating to a “buy” rating in a research report on Wednesday, October 2nd. Finally, Macquarie restated a “neutral” rating on shares of Rio Tinto Group in a report on Wednesday, October 16th. Four research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $73.00.

About Rio Tinto Group

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.