Rio Tinto plc (NYSE:RIO) was the target of unusually large options trading activity on Monday. Stock investors bought 7,324 put options on the company. This represents an increase of 503% compared to the typical daily volume of 1,214 put options.

Several hedge funds have recently modified their holdings of RIO. LMR Partners LLP bought a new stake in shares of Rio Tinto plc during the third quarter valued at $3,852,000. NEXT Financial Group Inc increased its stake in shares of Rio Tinto plc by 157.7% in the third quarter. NEXT Financial Group Inc now owns 15,574 shares of the mining company’s stock valued at $520,000 after buying an additional 9,530 shares in the last quarter. Rikoon Group LLC bought a new stake in shares of Rio Tinto plc during the third quarter valued at $222,000. HighTower Advisors LLC increased its stake in shares of Rio Tinto plc by 46.7% in the third quarter. HighTower Advisors LLC now owns 45,598 shares of the mining company’s stock valued at $1,521,000 after buying an additional 14,512 shares in the last quarter. Finally, Bragg Financial Advisors Inc increased its stake in shares of Rio Tinto plc by 2.7% in the third quarter. Bragg Financial Advisors Inc now owns 41,900 shares of the mining company’s stock valued at $1,399,000 after buying an additional 1,085 shares in the last quarter. Institutional investors and hedge funds own 6.63% of the company’s stock.

Rio Tinto plc (NYSE:RIO) traded up 1.81% on Monday, hitting $42.13. 3,363,378 shares of the company’s stock were exchanged. Rio Tinto plc has a 12-month low of $26.95 and a 12-month high of $47.11. The company’s 50-day moving average price is $39.72 and its 200-day moving average price is $40.56. The company has a market cap of $75.80 billion, a PE ratio of 16.50 and a beta of 1.19.

A number of equities analysts have commented on the stock. Royal Bank of Canada upgraded shares of Rio Tinto plc from an “outperform” rating to a “top pick” rating in a research note on Wednesday, May 17th. ValuEngine upgraded shares of Rio Tinto plc from a “buy” rating to a “strong-buy” rating in a research note on Thursday, May 11th. BNP Paribas upgraded shares of Rio Tinto plc from a “neutral” rating to an “outperform” rating in a research note on Thursday, April 20th. Citigroup Inc upgraded shares of Rio Tinto plc from a “neutral” rating to a “buy” rating in a research note on Thursday, April 20th. Finally, Zacks Investment Research upgraded shares of Rio Tinto plc from a “hold” rating to a “strong-buy” rating and set a $47.00 target price on the stock in a research note on Wednesday, April 12th. Two research analysts have rated the stock with a sell rating, five have given a hold rating, thirteen have given a buy rating and three have issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $41.86.

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About Rio Tinto plc

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.

12 Month Chart for NYSE:RIO

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