Rio Tinto Group Target of Unusually High Options Trading (NYSE:RIO)

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

Hedge Funds Weigh In On Rio Tinto Group

Hedge funds have recently bought and sold shares of the company. Fisher Asset Management LLC grew its position in Rio Tinto Group by 2.9% in the 3rd quarter. Fisher Asset Management LLC now owns 17,528,095 shares of the mining company’s stock valued at $1,247,475,000 after acquiring an additional 485,731 shares in the last quarter. Bank of Montreal Can grew its holdings in shares of Rio Tinto Group by 237.0% in the second quarter. Bank of Montreal Can now owns 2,472,471 shares of the mining company’s stock valued at $164,493,000 after purchasing an additional 1,738,752 shares in the last quarter. FMR LLC increased its stake in Rio Tinto Group by 35.1% during the 3rd quarter. FMR LLC now owns 1,381,766 shares of the mining company’s stock worth $98,340,000 after buying an additional 358,630 shares during the period. Palliser Capital UK Ltd lifted its holdings in Rio Tinto Group by 213.8% during the 4th quarter. Palliser Capital UK Ltd now owns 989,417 shares of the mining company’s stock worth $58,188,000 after buying an additional 674,117 shares in the last quarter. Finally, MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH boosted its position in Rio Tinto Group by 9.8% in the 3rd quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 932,151 shares of the mining company’s stock valued at $66,341,000 after buying an additional 83,569 shares during the period. Institutional investors and hedge funds own 19.33% of the company’s stock.

Rio Tinto Group Stock Up 2.0 %

NYSE:RIO opened at $61.00 on Friday. Rio Tinto Group has a 52 week low of $57.85 and a 52 week high of $74.24. 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 is $61.05 and its two-hundred day moving average is $63.61.

Wall Street Analyst Weigh In

RIO has been the topic of a number of recent analyst reports. Berenberg Bank upgraded Rio Tinto Group from a “hold” rating to a “buy” rating in a report on Wednesday, October 2nd. Jefferies Financial Group lowered their price target on Rio Tinto Group from $83.00 to $73.00 and set a “buy” rating for the company in a report on Monday, January 6th. Macquarie reissued a “neutral” rating on shares of Rio Tinto Group in a research report on Wednesday, October 16th. Finally, StockNews.com raised shares of Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a research report on Friday. Four research analysts have rated the stock with a hold rating, three have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target 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.