Rio Tinto Group (LON:RIO) Hits New 12-Month Low at $4,627.00

Rio Tinto Group (LON:RIO) reached a new 52-week low on Monday . The company traded as low as GBX 4,627 ($60.84) and last traded at GBX 4,719.55 ($62.06), with a volume of 1833358 shares changing hands. The stock had previously closed at GBX 4,771 ($62.74).

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on RIO. Citigroup reiterated a “neutral” rating on shares of Rio Tinto Group in a research note on Monday, June 17th. JPMorgan Chase & Co. reduced their target price on shares of Rio Tinto Group from GBX 6,500 ($85.47) to GBX 6,430 ($84.55) and set an “overweight” rating on the stock in a research note on Thursday, August 1st. Bank of America reaffirmed a “buy” rating and issued a GBX 7,700 ($101.25) target price on shares of Rio Tinto Group in a report on Wednesday, June 26th. Barclays reissued an “overweight” rating and set a GBX 6,000 ($78.90) price target on shares of Rio Tinto Group in a report on Tuesday, May 7th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a GBX 5,700 ($74.95) price objective on shares of Rio Tinto Group in a research note on Thursday, August 1st. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, Rio Tinto Group currently has an average rating of “Moderate Buy” and an average target price of GBX 6,305 ($82.91).

Rio Tinto Group Stock Down 0.3 %

The firm’s 50-day simple moving average is GBX 4,991.03 and its two-hundred day simple moving average is GBX 5,176.14. The stock has a market cap of £57.29 billion, a price-to-earnings ratio of 921.14, a PEG ratio of -0.64 and a beta of 0.63. The company has a debt-to-equity ratio of 25.01, a quick ratio of 1.34 and a current ratio of 1.70.

Rio Tinto Group Cuts Dividend

The business also recently disclosed a dividend, which will be paid on Thursday, September 26th. Investors of record on Thursday, August 15th will be given a $1.77 dividend. This represents a yield of 2.79%. The ex-dividend date of this dividend is Thursday, August 15th. Rio Tinto Group’s dividend payout ratio (DPR) is presently 6,833.67%.

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.