Berenberg Bank Reaffirms Buy Rating for Rio Tinto Group (LON:RIO)

Berenberg Bank reaffirmed their buy rating on shares of Rio Tinto Group (LON:RIO) in a research report sent to investors on Wednesday morning, Marketbeat Ratings reports. Berenberg Bank currently has a GBX 5,900 ($73.45) price objective on the stock.

Other equities analysts have also issued reports about the stock. JPMorgan Chase & Co. reaffirmed an overweight rating on shares of Rio Tinto Group in a research report on Tuesday, April 9th. Bank of America reaffirmed a buy rating and set a GBX 7,700 ($95.85) target price on shares of Rio Tinto Group in a research report on Wednesday. Royal Bank of Canada reduced their target price on shares of Rio Tinto Group from GBX 6,100 ($75.94) to GBX 5,900 ($73.45) and set a sector perform rating on the stock in a research report on Thursday, February 22nd. Finally, Deutsche Bank Aktiengesellschaft reissued a buy rating and set a GBX 6,000 ($74.69) price objective on shares of Rio Tinto Group in a report on Thursday. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of Moderate Buy and a consensus target price of GBX 6,351.25 ($79.06).

Rio Tinto Group Stock Performance

Shares of LON:RIO opened at GBX 5,380 ($66.97) on Wednesday. The firm has a market cap of £67.25 billion, a PE ratio of 1,095.72, a price-to-earnings-growth ratio of -0.64 and a beta of 0.65. The firm’s 50 day simple moving average is GBX 5,115.61 and its 200-day simple moving average is GBX 5,315.93. Rio Tinto Group has a one year low of GBX 4,509.50 ($56.14) and a one year high of GBX 5,910 ($73.57). The company has a debt-to-equity ratio of 25.47, a quick ratio of 1.34 and a current ratio of 1.69.

Rio Tinto Group Increases Dividend

The firm also recently disclosed a dividend, which was paid on Thursday, April 18th. Investors of record on Thursday, March 7th were issued a dividend of GBX 203.77 ($2.54) per share. This represents a yield of 3.9%. This is a positive change from Rio Tinto Group’s previous dividend of $137.67. The ex-dividend date was Thursday, March 7th. Rio Tinto Group’s dividend payout ratio (DPR) is presently 6,945.01%.

Insider Buying and Selling at Rio Tinto Group

In other Rio Tinto Group news, insider Peter Cunningham sold 3,939 shares of the firm’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of GBX 5,216 ($64.93), for a total value of £205,458.24 ($255,767.76). 14.71% of the stock is owned by insiders.

About Rio Tinto Group

Rio Tinto Group engages in exploring, mining, and processing mineral resources worldwide. The company operates through Iron Ore, Aluminium, Copper, and Minerals Segments. The Iron Ore segment engages in the iron ore mining, and salt and gypsum production in Western Australia. The Aluminum segment is involved in bauxite mining; alumina refining; and aluminium smelting.