Stock Traders Purchase High Volume of Rio Tinto PLC Put Options (RIO)

Rio Tinto PLC (NYSE:RIO) was the recipient of some unusual options trading on Friday. Traders bought 14,475 put options on the stock. This is an increase of approximately 853% compared to the average daily volume of 1,519 put options.

Several hedge funds and other institutional investors have recently bought and sold shares of RIO. Ameriprise Financial Inc. grew its stake in shares of Rio Tinto PLC by 2.7% during the first quarter. Ameriprise Financial Inc. now owns 130,621 shares of the mining company’s stock worth $5,339,000 after buying an additional 3,441 shares during the last quarter. Quantbot Technologies LP bought a new stake in shares of Rio Tinto PLC during the first quarter worth $111,000. Dynamic Technology Lab Private Ltd bought a new stake in shares of Rio Tinto PLC during the first quarter worth $326,000. Stephens Inc. AR bought a new stake in shares of Rio Tinto PLC during the first quarter worth $312,000. Finally, PNC Financial Services Group Inc. grew its stake in shares of Rio Tinto PLC by 8.4% during the first quarter. PNC Financial Services Group Inc. now owns 21,354 shares of the mining company’s stock worth $868,000 after buying an additional 1,649 shares during the last quarter. 6.87% of the stock is currently owned by hedge funds and other institutional investors.

RIO has been the subject of several recent research reports. ValuEngine raised Rio Tinto PLC from a “buy” rating to a “strong-buy” rating in a report on Thursday, July 6th. Jefferies Group LLC set a $52.00 price target on Rio Tinto PLC and gave the company a “buy” rating in a report on Friday, August 18th. Axiom Securities reaffirmed a “sell” rating on shares of Rio Tinto PLC in a report on Thursday, July 13th. BidaskClub cut Rio Tinto PLC from a “strong-buy” rating to a “buy” rating in a report on Tuesday, July 25th. Finally, Clarkson Capital reaffirmed a “buy” rating on shares of Rio Tinto PLC in a report on Wednesday, August 2nd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $50.50.

Shares of Rio Tinto PLC (RIO) opened at 48.26 on Wednesday. Rio Tinto PLC has a 1-year low of $31.24 and a 1-year high of $49.89. The company has a market capitalization of $86.53 billion, a price-to-earnings ratio of 14.07 and a beta of 0.96. The stock has a 50 day moving average price of $48.13 and a 200 day moving average price of $43.46.

The business also recently announced a None dividend, which was paid on Thursday, September 21st. Shareholders of record on Friday, August 11th were paid a dividend of $1.10 per share. The ex-dividend date of this dividend was Wednesday, August 9th.

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Rio Tinto PLC Company Profile

Rio Tinto plc is a mining and metals company. The Company’s business is finding, mining and processing mineral resources. The Company’s segments include Iron Ore, Aluminium, Copper & Diamonds, Energy & Minerals and Other Operations. The Company operates an iron ore business, supplying the global seaborne iron ore trade.

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