Rio Tinto Group (LON:RIO) Share Price Passes Above Two Hundred Day Moving Average of $5,325.09

Rio Tinto Group (LON:RIO) passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of GBX 5,325.09 ($65.77) and traded as high as GBX 5,517 ($68.14). Rio Tinto Group shares last traded at GBX 5,379 ($66.44), with a volume of 2,270,401 shares traded.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. Berenberg Bank reaffirmed a “buy” rating and set a GBX 5,900 ($72.88) target price on shares of Rio Tinto Group in a research note on Wednesday, April 17th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a GBX 6,000 ($74.11) price objective on shares of Rio Tinto Group in a research report on Thursday, April 18th. Bank of America reissued a “buy” rating and issued a GBX 7,700 ($95.11) target price on shares of Rio Tinto Group in a research report on Wednesday, April 17th. JPMorgan Chase & Co. lowered their target price on Rio Tinto Group from GBX 6,630 ($81.89) to GBX 6,610 ($81.65) and set an “overweight” rating for the company in a research note on Thursday, April 18th. Finally, Royal Bank of Canada reduced their price target on Rio Tinto Group from GBX 6,100 ($75.35) to GBX 5,900 ($72.88) and set a “sector perform” rating on the stock in a research note on Thursday, February 22nd. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, Rio Tinto Group presently has a consensus rating of “Moderate Buy” and an average target price of GBX 6,351.25 ($78.45).

Rio Tinto Group Trading Down 1.3 %

The stock has a market cap of £67.24 billion, a PE ratio of 1,095.52, a price-to-earnings-growth ratio of -0.64 and a beta of 0.65. The firm has a 50-day moving average price of GBX 5,120.69 and a 200-day moving average price of GBX 5,325.09. 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 company 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 ($2.52) 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 is 6,945.01%.

Insider Buying and Selling at Rio Tinto Group

In other news, insider Peter Cunningham sold 3,939 shares of the stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of GBX 5,216 ($64.43), for a total value of £205,458.24 ($253,777.47). Corporate insiders own 14.71% 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.