Stock Traders Purchase Large Volume of Call Options on Rio Tinto (RIO)
Shares of Rio Tinto (NYSE:RIO) was the recipient of unusually large options trading on Thursday. Stock investors bought 19,878 call options on the company, StockRatingsNetwork reports. This is an increase of 345% compared to the typical volume of 4,469 call options.
RIO has been the subject of a number of recent research reports. Analysts at RBC Capital reiterated an “outperform” rating on shares of Rio Tinto (NYSE:RIO) in a research note to investors on Tuesday. Separately, analysts at Nomura reiterated a “buy” rating on shares of Rio Tinto (NYSE:RIO) in a research note to investors on Thursday, September 19th. Finally, analysts at Galvan Research reiterated a “buy” rating on shares of Rio Tinto (NYSE:RIO) in a research note to investors on Thursday, September 19th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and seventeen have issued a buy rating to the stock. Rio Tinto has a consensus rating of “Buy” and an average price target of $55.59.
Shares of Rio Tinto (NYSE:RIO) traded up 0.62% during mid-day trading on Thursday, hitting $50.25. 2,787,024 shares of the company’s stock traded hands. Rio Tinto has a 52-week low of $39.14 and a 52-week high of $60.45. The stock has a 50-day moving average of $48.60 and a 200-day moving average of $45.84. The company’s market cap is $92.847 billion.
Rio Tinto Plc (NYSE:RIO) is an international business involved in each stage of metal and mineral production.
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