Rio Tinto PLC (NYSE:RIO) was the target of unusually large options trading activity on Tuesday. Stock investors acquired 11,458 put options on the company. This represents an increase of 248% compared to the typical daily volume of 3,295 put options.

Several institutional investors have recently made changes to their positions in the stock. Luminus Management LLC purchased a new position in shares of Rio Tinto PLC during the fourth quarter worth $138,568,000. Bank of America Corp DE boosted its position in shares of Rio Tinto PLC by 27.8% in the first quarter. Bank of America Corp DE now owns 2,545,963 shares of the mining company’s stock worth $103,570,000 after buying an additional 553,424 shares in the last quarter. Neuberger Berman Group LLC purchased a new position in shares of Rio Tinto PLC during the first quarter worth $62,865,000. Nikko Asset Management Americas Inc. boosted its position in shares of Rio Tinto PLC by 6.7% in the first quarter. Nikko Asset Management Americas Inc. now owns 1,139,064 shares of the mining company’s stock worth $46,337,000 after buying an additional 71,900 shares in the last quarter. Finally, Todd Asset Management LLC purchased a new position in shares of Rio Tinto PLC during the first quarter worth $44,378,000. 7.06% of the stock is currently owned by institutional investors.

Rio Tinto PLC (NYSE RIO) opened at 38.71 on Friday. The firm has a market cap of $69.64 billion, a P/E ratio of 15.16 and a beta of 1.01. Rio Tinto PLC has a 52 week low of $27.74 and a 52 week high of $47.11. The firm’s 50-day moving average price is $40.15 and its 200 day moving average price is $41.10.

A number of equities analysts have commented on the stock. Zacks Investment Research raised shares of Rio Tinto PLC from a “hold” rating to a “strong-buy” rating and set a $47.00 price objective for the company in a research report on Wednesday, April 12th. Citigroup Inc. raised shares of Rio Tinto PLC from a “neutral” rating to a “buy” rating in a research report on Thursday, April 20th. Royal Bank Of Canada raised shares of Rio Tinto PLC from an “outperform” rating to a “top pick” rating in a research report on Wednesday, May 17th. ValuEngine raised shares of Rio Tinto PLC from a “buy” rating to a “strong-buy” rating in a research report on Thursday, May 11th. Finally, BNP Paribas raised shares of Rio Tinto PLC from a “neutral” rating to an “outperform” rating in a research report on Thursday, April 20th. Four analysts have rated the stock with a sell rating, five have given a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target 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.

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