As it orbits the sun, this new asteroid, designated 2016 HO3, appears to circle around Earth as well. It is too distant to be considered a true satellite of our planet, but it is the best and most stable example to date of a near-Earth companion, or "quasi-satellite."
In its yearly trek around the sun, asteroid 2016 HO3 spends about half of the time closer to the sun than Earth and passes ahead of our planet, and about half of the time farther away, causing it to fall behind. Its orbit is also tilted a little, causing it to bob up and then down once each year through Earth's orbital plane. In effect, this small asteroid is caught in a game of leap frog with Earth that will last for hundreds of years.
To read full article, click here http://www.jpl.nasa.gov/news/news.php?feature=6537