Stock Traders Purchase High Volume of Rio Tinto Group Call Options (NYSE:RIO)

Rio Tinto Group (NYSE:RIO) was the target of unusually large options trading activity on Thursday. Investors acquired 12,747 call options on the company. This is an increase of approximately 79% compared to the average daily volume of 7,115 call options.

Analyst Ratings Changes

A number of analysts have commented on RIO shares. Morgan Stanley cut shares of Rio Tinto Group from an “overweight” rating to an “equal weight” rating in a research report on Wednesday, April 9th. Jefferies Financial Group cut their target price on 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. Clarkson Capital upgraded Rio Tinto Group to a “strong-buy” rating in a report on Friday, February 28th. JPMorgan Chase & Co. initiated coverage on Rio Tinto Group in a report on Tuesday, March 18th. They set an “overweight” rating on the stock. Finally, DZ Bank upgraded shares of Rio Tinto Group from a “hold” rating to a “strong-buy” rating in a research report on Thursday, March 27th. Four research analysts have rated the stock with a hold rating, five have assigned a buy rating and four have issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $73.00.

Rio Tinto Group Stock Up 2.5 %

Rio Tinto Group stock opened at $61.73 on Friday. The firm has a market capitalization of $77.41 billion, a price-to-earnings ratio of 9.57, a price-to-earnings-growth ratio of 0.42 and a beta of 0.66. The firm’s fifty day moving average price is $60.31 and its two-hundred day moving average price is $61.63. Rio Tinto Group has a 1-year low of $51.67 and a 1-year high of $74.24. The company has a current ratio of 1.63, a quick ratio of 1.16 and a debt-to-equity ratio of 0.23.

Rio Tinto Group Increases Dividend

The business also recently declared a semi-annual dividend, which was paid on Thursday, April 17th. Shareholders of record on Friday, March 7th were paid a dividend of $2.23 per share. The ex-dividend date of this dividend was Friday, March 7th. This represents a yield of 7%. This is an increase from Rio Tinto Group’s previous semi-annual dividend of $1.77. Rio Tinto Group’s payout ratio is 69.15%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the stock. Thurston Springer Miller Herd & Titak Inc. lifted its stake in 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 valued at $29,000 after acquiring an additional 195 shares in the last quarter. Rakuten Securities Inc. lifted its position in shares of Rio Tinto Group by 74.8% during the fourth quarter. Rakuten Securities Inc. now owns 493 shares of the mining company’s stock valued at $29,000 after purchasing an additional 211 shares in the last quarter. Mechanics Financial Corp purchased a new position in Rio Tinto Group during the fourth quarter worth about $29,000. Alpine Bank Wealth Management bought a new stake in Rio Tinto Group in the 1st quarter worth about $30,000. Finally, Bfsg LLC increased its stake in Rio Tinto Group by 5,754.5% in the 1st quarter. Bfsg LLC now owns 644 shares of the mining company’s stock valued at $39,000 after buying an additional 633 shares during the last quarter. Institutional investors own 19.33% of the company’s stock.

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.