Rio Tinto Group (LON:RIO) Earns Buy Rating from Bank of America

Bank of America restated their buy rating on shares of Rio Tinto Group (LON:RIO) in a research note issued to investors on Wednesday morning, Marketbeat.com reports. They currently have a GBX 7,700 ($95.85) price objective on the stock.

Other equities analysts have also recently issued research reports about the company. Berenberg Bank restated a buy rating and issued a GBX 6,200 ($77.18) price target on shares of Rio Tinto Group in a report on Monday, February 19th. Royal Bank of Canada decreased their price target on Rio Tinto Group from GBX 6,100 ($75.94) to GBX 5,900 ($73.45) and set a sector perform rating for the company in a report on Thursday, February 22nd. Finally, JPMorgan Chase & Co. restated an overweight rating on shares of Rio Tinto Group in a report on Tuesday, April 9th. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of Moderate Buy and an average target price of GBX 6,442.50 ($80.20).

Rio Tinto Group Stock Up 0.4 %

Shares of LON:RIO opened at GBX 5,407 ($67.31) on Wednesday. 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 has a 1 year low of GBX 4,509.50 ($56.14) and a 1 year high of GBX 5,910 ($73.57). The stock has a market capitalization of £67.59 billion, a P/E ratio of 1,097.35, a PEG ratio of -0.64 and a beta of 0.65. The stock has a 50-day simple moving average of GBX 5,114.71 and a 200-day simple moving average of GBX 5,311.76.

Rio Tinto Group Increases Dividend

The firm also recently announced a dividend, which will be paid on Thursday, April 18th. Stockholders of record on Thursday, March 7th will be paid a dividend of GBX 203.77 ($2.54) per share. This is a boost 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 is Thursday, March 7th. Rio Tinto Group’s dividend payout ratio is 6,945.01%.

Insider Activity

In other news, insider Peter Cunningham sold 3,939 shares of the stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of GBX 5,216 ($64.93), for a total transaction of £205,458.24 ($255,767.76). Company 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.