Rio Tinto Group (LON:RIO – Get Free Report)’s share price reached a new 52-week low on Tuesday . The stock traded as low as GBX 4,041.50 ($50.95) and last traded at GBX 4,825.35 ($60.83), with a volume of 208142 shares changing hands. The stock had previously closed at GBX 4,745.50 ($59.82).
Analysts Set New Price Targets
RIO has been the topic of several research reports. Royal Bank of Canada raised their price objective on shares of Rio Tinto Group from GBX 5,000 ($63.03) to GBX 5,100 ($64.29) in a research report on Friday, July 7th. Citigroup reissued a “buy” rating on shares of Rio Tinto Group in a report on Tuesday, July 18th. Berenberg Bank raised their price target on shares of Rio Tinto Group from GBX 6,100 ($76.89) to GBX 6,300 ($79.42) in a report on Friday, July 28th. JPMorgan Chase & Co. raised their price target on shares of Rio Tinto Group from GBX 5,390 ($67.94) to GBX 5,440 ($68.57) in a report on Thursday, July 27th. Finally, Morgan Stanley cut their price target on shares of Rio Tinto Group from GBX 5,550 ($69.96) to GBX 5,500 ($69.33) in a report on Wednesday, August 2nd. One analyst has rated the stock with a sell rating, two have assigned a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, Rio Tinto Group has a consensus rating of “Moderate Buy” and an average target price of GBX 6,149.09 ($77.51).
Rio Tinto Group Trading Up 1.3 %
Rio Tinto Group Cuts Dividend
The firm also recently announced a dividend, which will be paid on Thursday, September 21st. Shareholders of record on Thursday, August 10th will be issued a dividend of GBX 137.67 ($1.74) per share. The ex-dividend date is Thursday, August 10th. This represents a yield of 2.55%. Rio Tinto Group’s dividend payout ratio is currently 7,708.83%.
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. It offers aluminum, copper, iron ore, diamonds, gold, borates, titanium dioxide, salt, silver, molybdenum, and lithium. The company also owns and operates open pit and underground mines, refineries, smelters, and concentrator facilities, as well as power stations, research, and service facilities.
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