Rio Tinto Group (LON:RIO) Given Buy Rating at Bank of America

Bank of America reiterated their buy rating on shares of Rio Tinto Group (LON:RIO) in a report released on Wednesday morning, MarketBeat Ratings reports. They currently have a GBX 7,700 ($95.85) price objective on the stock.

Other equities analysts have also issued reports about the stock. JPMorgan Chase & Co. reaffirmed an overweight rating on shares of Rio Tinto Group in a report on Tuesday, April 9th. Berenberg Bank reaffirmed a buy rating and set a GBX 6,200 ($77.18) target price on shares of Rio Tinto Group in a report on Monday, February 19th. Finally, Royal Bank of Canada cut their target price on shares of 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. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and an average price target of GBX 6,442.50 ($80.20).

Rio Tinto Group Stock Performance

Shares of LON RIO opened at GBX 5,407 ($67.31) on Wednesday. The company has a current ratio of 1.69, a quick ratio of 1.34 and a debt-to-equity ratio of 25.47. Rio Tinto Group has a 12 month low of GBX 4,509.50 ($56.14) and a 12 month high of GBX 5,910 ($73.57). The company has a 50 day simple moving average of GBX 5,114.71 and a two-hundred day simple moving average of GBX 5,311.76. The stock has a market cap of £67.59 billion, a price-to-earnings ratio of 1,097.35, a PEG ratio of -0.64 and a beta of 0.65.

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 issued a dividend of GBX 203.77 ($2.54) per share. This is a positive change from Rio Tinto Group’s previous dividend of $137.67. The ex-dividend date of this dividend is Thursday, March 7th. This represents a dividend yield of 3.9%. Rio Tinto Group’s dividend payout ratio is presently 6,945.01%.

Insider Transactions at Rio Tinto Group

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