Rio Tinto Group (LON:RIO) Price Target Cut to GBX 6,610

Rio Tinto Group (LON:RIO) had its target price decreased by JPMorgan Chase & Co. from GBX 6,630 ($82.53) to GBX 6,610 ($82.29) in a research note published on Thursday, MarketBeat reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

A number of other research analysts have also recently issued reports on RIO. Berenberg Bank reaffirmed a buy rating and issued a GBX 5,900 ($73.45) target price on shares of Rio Tinto Group in a report on Wednesday, April 17th. Royal Bank of Canada dropped 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 for the company in a report on Thursday, February 22nd. Deutsche Bank Aktiengesellschaft reaffirmed a buy rating and issued a GBX 6,000 ($74.69) target price on shares of Rio Tinto Group in a report on Thursday. Finally, Bank of America reaffirmed a buy rating and issued a GBX 7,700 ($95.85) target price on shares of Rio Tinto Group in a report on Wednesday, April 17th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of Moderate Buy and an average price target of GBX 6,351.25 ($79.06).

Rio Tinto Group Trading Up 0.2 %

Shares of Rio Tinto Group stock opened at GBX 5,380 ($66.97) on Thursday. Rio Tinto Group has a 12-month low of GBX 4,509.50 ($56.14) and a 12-month high of GBX 5,910 ($73.57). The company has a current ratio of 1.69, a quick ratio of 1.34 and a debt-to-equity ratio of 25.47. The stock 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 company has a 50-day moving average of GBX 5,115.61 and a two-hundred day moving average of GBX 5,318.64.

Rio Tinto Group Increases Dividend

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

Insider Transactions at Rio Tinto Group

In other 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 transaction of £205,458.24 ($255,767.76). Corporate insiders own 14.71% of the company’s stock.

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.