Rio Tinto Group (NYSE:RIO – Get Rating) has been given an average rating of “Hold” by the twenty research firms that are covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, nine have issued a hold recommendation, five have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $4,155.00.
Several equities research analysts have commented on the stock. UBS Group upgraded shares of Rio Tinto Group from a “sell” rating to a “neutral” rating in a research note on Friday, March 25th. Citigroup lowered shares of Rio Tinto Group from a “buy” rating to a “neutral” rating in a research note on Wednesday, March 9th. Deutsche Bank Aktiengesellschaft raised their price target on shares of Rio Tinto Group from GBX 5,900 ($76.76) to GBX 6,100 ($79.37) in a research note on Tuesday, April 5th. Zacks Investment Research lowered shares of Rio Tinto Group from a “buy” rating to a “hold” rating in a research note on Thursday, March 10th. Finally, Berenberg Bank upgraded shares of Rio Tinto Group from a “hold” rating to a “buy” rating in a research note on Friday, January 7th.
A number of institutional investors have recently bought and sold shares of RIO. Capital World Investors boosted its stake in Rio Tinto Group by 92.0% in the 3rd quarter. Capital World Investors now owns 7,531,138 shares of the mining company’s stock worth $503,198,000 after purchasing an additional 3,608,881 shares during the period. Arrowstreet Capital Limited Partnership boosted its stake in Rio Tinto Group by 71.9% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 3,213,785 shares of the mining company’s stock worth $214,745,000 after purchasing an additional 1,344,180 shares during the period. Renaissance Technologies LLC boosted its stake in Rio Tinto Group by 460.7% in the 4th quarter. Renaissance Technologies LLC now owns 1,322,100 shares of the mining company’s stock worth $88,501,000 after purchasing an additional 1,086,300 shares during the period. SG Americas Securities LLC acquired a new position in Rio Tinto Group in the 4th quarter worth approximately $57,722,000. Finally, Morgan Stanley boosted its stake in Rio Tinto Group by 21.8% in the 3rd quarter. Morgan Stanley now owns 4,789,595 shares of the mining company’s stock worth $320,040,000 after purchasing an additional 857,970 shares during the period. Hedge funds and other institutional investors own 10.06% of the company’s stock.
The firm also recently declared a None dividend, which will be paid on Thursday, April 21st. Shareholders of record on Friday, March 11th will be given a $4.785 dividend. This is a positive change from Rio Tinto Group’s previous None dividend of $1.10. The ex-dividend date is Thursday, March 10th. This represents a yield of 10.2%.
Rio Tinto Group Company Profile (Get Rating)
Rio Tinto Group engages in exploring, mining, and processing mineral resources worldwide. The company offers aluminum, copper, diamonds, gold, borates, titanium dioxide, salt, iron ore, and uranium. It also owns and operates open pit and underground mines, mills, refineries, smelters, power stations, and research and service facilities.
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