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

Rio Tinto Group (NYSE:RIO - Get Free Report) was the target of some unusual options trading on Thursday. Investors purchased 106,876 call options on the company. This represents an increase of approximately 1,654% compared to the typical volume of 6,093 call options.

Institutional Investors Weigh In On Rio Tinto Group

Institutional investors and hedge funds have recently modified their holdings of the company. Nisa Investment Advisors LLC lifted its position in shares of Rio Tinto Group by 49.1% during the 3rd quarter. Nisa Investment Advisors LLC now owns 820 shares of the mining company's stock valued at $58,000 after buying an additional 270 shares in the last quarter. Concurrent Investment Advisors LLC increased its stake in shares of Rio Tinto Group by 4.3% in the 3rd quarter. Concurrent Investment Advisors LLC now owns 4,261 shares of the mining company's stock worth $303,000 after acquiring an additional 175 shares during the last quarter. Hara Capital LLC purchased a new position in shares of Rio Tinto Group during the 3rd quarter worth $53,000. Summit Global Investments grew its position in Rio Tinto Group by 10.1% in the third quarter. Summit Global Investments now owns 77,590 shares of the mining company's stock worth $5,522,000 after acquiring an additional 7,112 shares during the period. Finally, Philip James Wealth Mangement LLC purchased a new stake in Rio Tinto Group during the 3rd quarter worth about $1,345,000. Institutional investors and hedge funds own 19.33% of the company's stock.

Analysts Set New Price Targets

RIO has been the topic of several recent analyst reports. Jefferies Financial Group cut their price objective on shares of Rio Tinto Group from $83.00 to $73.00 and set a "buy" rating on the stock in a research report on Monday, January 6th. StockNews.com downgraded Rio Tinto Group from a "strong-buy" rating to a "buy" rating in a research report on Saturday, February 22nd. Finally, Clarkson Capital raised Rio Tinto Group to a "strong-buy" rating in a report on Friday, February 28th. Three equities research 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 stock. According to data from MarketBeat, Rio Tinto Group presently has an average rating of "Moderate Buy" and a consensus price target of $73.00.

Remove Ads

Rio Tinto Group Stock Down 0.3 %

RIO stock traded down $0.17 during trading on Monday, hitting $62.14. 3,429,196 shares of the company's stock traded hands, compared to its average volume of 3,285,506. The business has a fifty day simple moving average of $61.12 and a two-hundred day simple moving average of $62.89. The company has a quick ratio of 1.16, a current ratio of 1.63 and a debt-to-equity ratio of 0.23. Rio Tinto Group has a 1 year low of $57.85 and a 1 year high of $74.24. The firm has a market capitalization of $77.86 billion, a P/E ratio of 9.63, a PEG ratio of 0.42 and a beta of 0.60.

Rio Tinto Group Increases Dividend

The business also recently disclosed a semi-annual dividend, which will be paid on Thursday, April 17th. Stockholders of record on Friday, March 7th will be issued a dividend of $2.23 per share. The ex-dividend date is Friday, March 7th. This represents a dividend yield of 7%. This is an increase from Rio Tinto Group's previous semi-annual dividend of $1.77. Rio Tinto Group's dividend payout ratio is 69.15%.

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.