Rio Tinto Group (LON:RIO – Get Free Report)’s share price passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of GBX 5,150.52 ($68.89) and traded as high as GBX 5,334 ($71.35). Rio Tinto Group shares last traded at GBX 5,298 ($70.87), with a volume of 1,748,808 shares.
Wall Street Analyst Weigh In
RIO has been the topic of several research reports. Berenberg Bank cut Rio Tinto Group from a “buy” rating to a “hold” rating and dropped their price target for the company from GBX 5,900 ($78.92) to GBX 5,800 ($77.58) in a report on Wednesday, June 26th. Citigroup reaffirmed a “neutral” rating on shares of Rio Tinto Group in a report on Monday, June 17th. Royal Bank of Canada reissued a “sector perform” rating and issued a GBX 5,700 ($76.24) price target on shares of Rio Tinto Group in a research note on Thursday, August 1st. JPMorgan Chase & Co. reduced their price objective on shares of Rio Tinto Group from GBX 6,500 ($86.94) to GBX 6,430 ($86.01) and set an “overweight” rating for the company in a research note on Thursday, August 1st. Finally, Bank of America restated a “buy” rating and set a GBX 7,700 ($103.00) price target on shares of Rio Tinto Group in a report on Wednesday, June 26th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of GBX 6,271.67 ($83.89).
View Our Latest Stock Analysis on Rio Tinto Group
Rio Tinto Group Stock Performance
Rio Tinto Group Cuts Dividend
The business also recently declared a dividend, which was paid on Thursday, September 26th. Investors of record on Thursday, August 15th were issued a dividend of $1.77 per share. This represents a dividend yield of 2.79%. The ex-dividend date of this dividend was Thursday, August 15th. Rio Tinto Group’s dividend payout ratio is currently 6,869.92%.
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.
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