Rio Tinto Group’s (RIO) “Overweight” Rating Reiterated at Barclays

Barclays reissued their overweight rating on shares of Rio Tinto Group (LON:RIO) in a report released on Tuesday morning, MarketBeat Ratings reports. Barclays currently has a GBX 6,000 ($75.38) target price on the stock.

A number of other brokerages have also recently issued reports on RIO. Berenberg Bank reaffirmed a buy rating and issued a GBX 5,900 ($74.12) price objective on shares of Rio Tinto Group in a research note on Wednesday, April 17th. JPMorgan Chase & Co. reduced their price objective on shares of Rio Tinto Group from GBX 6,630 ($83.29) to GBX 6,610 ($83.04) and set an overweight rating on the stock in a research note on Thursday, April 18th. Royal Bank of Canada cut their target price on shares of Rio Tinto Group from GBX 6,100 ($76.63) to GBX 5,900 ($74.12) and set a sector perform rating on the stock in a report on Thursday, February 22nd. Bank of America reiterated a buy rating and issued a GBX 7,700 ($96.73) target price on shares of Rio Tinto Group in a report on Wednesday, April 17th. Finally, Deutsche Bank Aktiengesellschaft reiterated a buy rating and issued a GBX 6,000 ($75.38) target price on shares of Rio Tinto Group in a report on Thursday, April 18th. One analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of Moderate Buy and an average price target of GBX 6,301.25 ($79.16).

Rio Tinto Group Price Performance

Shares of RIO stock opened at GBX 5,523 ($69.38) on Tuesday. Rio Tinto Group has a 52-week low of GBX 4,509.50 ($56.65) and a 52-week high of GBX 5,910 ($74.25). The stock has a market cap of £69.04 billion, a PE ratio of 1,138.70, a PEG ratio of -0.64 and a beta of 0.65. The company has a debt-to-equity ratio of 25.47, a quick ratio of 1.34 and a current ratio of 1.69. The firm’s 50 day moving average price is GBX 5,158.79 and its two-hundred day moving average price is GBX 5,351.73.

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 issued a dividend of GBX 203.77 ($2.56) per share. This represents a dividend yield of 3.9%. This is a positive change from Rio Tinto Group’s previous dividend of $137.67. The ex-dividend date was Thursday, March 7th. Rio Tinto Group’s dividend payout ratio (DPR) is presently 6,945.01%.

Insider Buying and Selling

In related news, insider Peter Cunningham sold 3,939 shares of the firm’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of GBX 5,216 ($65.53), for a total transaction of £205,458.24 ($258,113.37). 14.66% of the stock is currently owned by company insiders.

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.