Major Move Is Coming For Rio Tinto plc (ADR) After Bearish Options Activity

 Major Move Is Coming For Rio Tinto plc (ADR) After Bearish Options Activity

In today’s session Rio Tinto plc (ADR) (RIO) recorded an unusually high (1,127) contracts volume of put trades. Someone, most probably a professional was a very active buyer of the November, 2016 put, expecting serious RIO decrease. With 1,127 contracts traded and 754 open interest for the Nov, 16 contract, it seems this is a quite bearish bet. The option with symbol: RIO161118P00032500 closed last at: $1.3 or 8.3% up. The stock decreased 1.40% or $0.47 on October 4, hitting $33.1. About 3.77M shares traded hands or 3.86% up from the average. Rio Tinto plc (ADR) (NYSE:RIO) has risen 24.48% since March 1, 2016 and is uptrending. It has outperformed by 15.24% the S&P500.

Rio Tinto plc (ADR) (NYSE:RIO) Ratings Coverage

Out of 16 analysts covering Rio Tinto (NYSE:RIO), 7 rate it a “Buy”, 4 “Sell”, while 5 “Hold”. This means 44% are positive. $55 is the highest target while $14 is the lowest. The $35.83 average target is 8.25% above today’s ($33.1) stock price. Rio Tinto has been the topic of 24 analyst reports since August 5, 2015 according to StockzIntelligence Inc. The firm has “Overweight” rating given on Tuesday, June 28 by Morgan Stanley. Cowen & Co maintained the shares of RIO in a report on Wednesday, January 27 with “Market Perform” rating. The firm has “Buy” rating given on Friday, October 2 by Societe Generale. The stock of Rio Tinto plc (ADR) (NYSE:RIO) earned “Outperform” rating by Macquarie Research on Friday, August 7. The stock of Rio Tinto plc (ADR) (NYSE:RIO) has “Buy” rating given on Friday, October 30 by Investec. As per Thursday, September 29, the company rating was upgraded by IBC. The firm has “Sell” rating given on Thursday, October 29 by Liberium. The firm earned “Market Perform” rating on Thursday, October 29 by Cowen & Co. Liberum Capital downgraded Rio Tinto plc (ADR) (NYSE:RIO) on Thursday, October 29 to “Sell” rating. The firm has “Overweight” rating given on Wednesday, October 7 by Morgan Stanley.

Rio Tinto plc is a mining company. The Firm focuses on finding, mining, processing and marketing the Earth’s mineral resources. The company has a market cap of $62.77 billion. The Company’s divisions include aluminum, copper and coal, diamonds and minerals, and iron ore. It has a 1299.06 P/E ratio. The Company’s aluminum business includes bauxite mines, alumina refineries and aluminum smelters.

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