Rio Tinto Group (NYSE:RIO) Upgraded at DZ Bank

DZ Bank upgraded shares of Rio Tinto Group (NYSE:RIO) from a hold rating to a strong-buy rating in a research note issued to investors on Thursday morning,Zacks.com reports.

Several other research analysts have also issued reports on the stock. StockNews.com cut shares of Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a research report on Saturday, February 22nd. JPMorgan Chase & Co. assumed coverage on Rio Tinto Group in a research note on Tuesday, March 18th. They issued an “overweight” rating for the company. Clarkson Capital raised Rio Tinto Group to a “strong-buy” rating in a research note on Friday, February 28th. Finally, Jefferies Financial Group cut their target price on shares of Rio Tinto Group from $83.00 to $73.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Three research analysts have rated the stock with a hold rating, five have given a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $73.00.

Rio Tinto Group Stock Performance

Shares of RIO opened at $60.99 on Thursday. The company has a 50-day simple moving average of $62.11 and a two-hundred day simple moving average of $62.94. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.63 and a quick ratio of 1.16. The firm has a market capitalization of $76.48 billion, a PE ratio of 9.46, a price-to-earnings-growth ratio of 0.42 and a beta of 0.60. Rio Tinto Group has a one year low of $57.85 and a one year high of $74.24.

Rio Tinto Group Increases Dividend

The firm also recently declared a semi-annual dividend, which will be paid on Thursday, April 17th. Stockholders of record on Friday, March 7th will be issued a $2.23 dividend. This represents a dividend yield of 7%. This is an increase from Rio Tinto Group’s previous semi-annual dividend of $1.77. The ex-dividend date of this dividend is Friday, March 7th. Rio Tinto Group’s dividend payout ratio is presently 69.15%.

Institutional Trading of Rio Tinto Group

Large investors have recently made changes to their positions in the stock. Dorsey & Whitney Trust CO LLC lifted its stake in shares of Rio Tinto Group by 2.0% during the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 8,113 shares of the mining company’s stock worth $477,000 after buying an additional 160 shares during the period. Capital Analysts LLC lifted its holdings in shares of Rio Tinto Group by 6.0% during the fourth quarter. Capital Analysts LLC now owns 2,886 shares of the mining company’s stock worth $170,000 after purchasing an additional 163 shares during the period. Nemes Rush Group LLC boosted its position in Rio Tinto Group by 10.0% in the fourth quarter. Nemes Rush Group LLC now owns 1,855 shares of the mining company’s stock valued at $109,000 after buying an additional 169 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. increased its holdings in Rio Tinto Group by 63.9% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 500 shares of the mining company’s stock worth $29,000 after buying an additional 195 shares during the period. Finally, Cohen Investment Advisors LLC raised its position in Rio Tinto Group by 3.8% during the 4th quarter. Cohen Investment Advisors LLC now owns 5,352 shares of the mining company’s stock worth $315,000 after buying an additional 198 shares during the last quarter. 19.33% of the stock is owned by hedge funds and other institutional investors.

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.