Traders Buy Large Volume of Rio Tinto Group Call Options (NYSE:RIO)

Rio Tinto Group (NYSE:RIO) was the target of some unusual options trading on Thursday. Investors bought 10,859 call options on the stock. This is an increase of 181% compared to the typical volume of 3,861 call options.

Analyst Upgrades and Downgrades

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Sanctuary Advisors LLC acquired a new stake in Rio Tinto Group in the second quarter valued at approximately $1,910,000. Teachers Retirement System of The State of Kentucky lifted its stake in shares of Rio Tinto Group by 8.9% in the 2nd quarter. Teachers Retirement System of The State of Kentucky now owns 650,180 shares of the mining company’s stock valued at $42,867,000 after purchasing an additional 53,000 shares during the last quarter. Ted Buchan & Co bought a new stake in Rio Tinto Group in the second quarter worth $1,161,000. EP Wealth Advisors LLC increased its position in Rio Tinto Group by 22.0% during the second quarter. EP Wealth Advisors LLC now owns 5,240 shares of the mining company’s stock worth $345,000 after buying an additional 945 shares during the last quarter. Finally, B. Riley Wealth Advisors Inc. increased its position in Rio Tinto Group by 10.0% during the second quarter. B. Riley Wealth Advisors Inc. now owns 31,080 shares of the mining company’s stock worth $2,049,000 after buying an additional 2,823 shares during the last quarter. Hedge funds and other institutional investors own 19.33% of the company’s stock.

Rio Tinto Group Trading Down 2.5 %

RIO stock opened at $63.58 on Friday. The company has a 50 day moving average of $63.10 and a two-hundred day moving average of $65.66. Rio Tinto Group has a 12-month low of $59.35 and a 12-month high of $75.09. 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 Cuts Dividend

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

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.