Shares of Rio Tinto Group (LON:RIO – Get Free Report) have been given a consensus rating of “Moderate Buy” by the eight analysts that are currently covering the stock, MarketBeat.com reports. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is GBX 6,351.25 ($79.78).
RIO has been the topic of a number of research reports. Bank of America reissued a “buy” rating and set a GBX 7,700 ($96.72) price target on shares of Rio Tinto Group in a report on Wednesday, April 17th. Royal Bank of Canada lowered 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 on the stock in a report on Thursday, February 22nd. JPMorgan Chase & Co. lowered their price objective on Rio Tinto Group from GBX 6,630 ($83.28) to GBX 6,610 ($83.03) and set an “overweight” rating on the stock in a report on Thursday, April 18th. Berenberg Bank reaffirmed a “buy” rating and issued a GBX 5,900 ($74.11) price objective on shares of Rio Tinto Group in a report on Wednesday, April 17th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a GBX 6,000 ($75.37) price objective on shares of Rio Tinto Group in a report on Thursday, April 18th.
Get Our Latest Stock Report on RIO
Rio Tinto Group Stock Performance
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 is an increase from Rio Tinto Group’s previous dividend of $137.67. This represents a dividend yield of 3.9%. The ex-dividend date of this dividend was Thursday, March 7th. Rio Tinto Group’s payout ratio is currently 6,945.01%.
Insider Buying and Selling
In other Rio Tinto Group news, insider Peter Cunningham sold 3,939 shares of the business’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of GBX 5,216 ($65.52), for a total value of £205,458.24 ($258,080.94). 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.
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