Investors Buy High Volume of Rio Tinto Group Call Options (NYSE:RIO)

Rio Tinto Group (NYSE:RIO) was the recipient of unusually large options trading activity on Thursday. Traders bought 10,859 call options on the stock. This is an increase of 181% compared to the average volume of 3,861 call options.

Institutional Investors Weigh In On Rio Tinto Group

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Northwest Investment Counselors LLC purchased a new position in shares of Rio Tinto Group in the 1st quarter worth about $26,000. Geneos Wealth Management Inc. raised its holdings in Rio Tinto Group by 55.4% in the first quarter. Geneos Wealth Management Inc. now owns 415 shares of the mining company’s stock worth $26,000 after buying an additional 148 shares during the last quarter. GHP Investment Advisors Inc. purchased a new position in Rio Tinto Group in the second quarter worth about $26,000. YHB Investment Advisors Inc. bought a new position in shares of Rio Tinto Group in the first quarter worth approximately $29,000. Finally, LifeSteps Financial Inc. purchased a new stake in shares of Rio Tinto Group during the first quarter valued at approximately $33,000. Hedge funds and other institutional investors own 19.33% of the company’s stock.

Rio Tinto Group Stock Up 3.8 %

RIO traded up $2.40 during trading on Thursday, reaching $65.31. The stock had a trading volume of 2,820,395 shares, compared to its average volume of 2,684,671. 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 stock’s 50 day moving average is $63.26 and its two-hundred day moving average 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 firm also recently declared a semi-annual dividend, which will be paid on Thursday, September 26th. Investors of record on Friday, August 16th will be given a dividend of $1.77 per share. The ex-dividend date is Friday, August 16th. This represents a yield of 6.8%.

Analysts Set New Price Targets

Several brokerages have recently commented on RIO. Hsbc Global Res raised shares of Rio Tinto Group to a “strong-buy” rating in a research note on Tuesday, July 23rd. Berenberg Bank lowered Rio Tinto Group from a “buy” rating to a “hold” rating in a research report on Thursday, June 27th. Royal Bank of Canada upgraded Rio Tinto Group to a “hold” rating in a report on Wednesday, July 31st. StockNews.com raised Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a research note on Friday, September 6th. Finally, HSBC raised shares of Rio Tinto Group from a “hold” rating to a “buy” rating in a research report on Tuesday, July 23rd. Five equities research analysts have rated the stock with a hold rating, four have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy”.

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.