Shares of Rio Tinto Group (LON:RIO – Get Free Report) have been given a consensus rating of “Moderate Buy” by the eight brokerages that are presently covering the firm, Marketbeat Ratings reports. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is GBX 6,351.25 ($79.78).
A number of research analysts have issued reports on the company. Berenberg Bank reiterated a “buy” rating and set a GBX 5,900 ($74.11) price objective on shares of Rio Tinto Group in a research note on Wednesday, April 17th. JPMorgan Chase & Co. reduced their price objective on Rio Tinto Group from GBX 6,630 ($83.28) to GBX 6,610 ($83.03) and set an “overweight” rating for the company in a research report on Thursday, April 18th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a GBX 6,000 ($75.37) price target on shares of Rio Tinto Group in a research note on Thursday, April 18th. Royal Bank of Canada cut their price objective on Rio Tinto Group from GBX 6,100 ($76.62) to GBX 5,900 ($74.11) and set a “sector perform” rating for the company in a research note on Thursday, February 22nd. Finally, Bank of America restated a “buy” rating and issued a GBX 7,700 ($96.72) price objective on shares of Rio Tinto Group in a research report on Wednesday, April 17th.
Rio Tinto Group Trading Up 0.5 %
Rio Tinto Group Increases Dividend
The business also recently disclosed a dividend, which was paid on Thursday, April 18th. Investors of record on Thursday, March 7th were given a dividend of GBX 203.77 ($2.56) per share. This represents a yield of 3.9%. The ex-dividend date of this dividend was Thursday, March 7th. This is a boost from Rio Tinto Group’s previous dividend of $137.67. Rio Tinto Group’s dividend payout ratio (DPR) is currently 6,945.01%.
Insider Activity at Rio Tinto Group
In other news, insider Peter Cunningham sold 3,939 shares of the business’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of GBX 5,216 ($65.52), for a total transaction of £205,458.24 ($258,080.94). Insiders own 14.66% of the company’s stock.
Rio Tinto Group Company Profile
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.
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