Rio Tinto Group (LON:RIO) Earns “Buy” Rating from Berenberg Bank

Berenberg Bank restated their buy rating on shares of Rio Tinto Group (LON:RIO) in a report released on Wednesday, MarketBeat Ratings reports. They currently have a GBX 5,900 ($73.45) target price on the stock.

Other equities analysts have also recently issued reports about the company. Deutsche Bank Aktiengesellschaft reaffirmed a buy rating and set a GBX 6,000 ($74.69) price objective on shares of Rio Tinto Group in a report on Thursday. JPMorgan Chase & Co. reissued an overweight rating on shares of Rio Tinto Group in a research report on Tuesday, April 9th. Bank of America reissued a buy rating and set a GBX 7,700 ($95.85) price target on shares of Rio Tinto Group in a research report on Wednesday. Finally, Royal Bank of Canada dropped 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 research report on Thursday, February 22nd. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, Rio Tinto Group presently has an average rating of Moderate Buy and a consensus target price of GBX 6,351.25 ($79.06).

Rio Tinto Group Stock Performance

Shares of RIO stock opened at GBX 5,380 ($66.97) on Wednesday. The stock has a fifty day moving average price of GBX 5,115.61 and a 200 day moving average price of GBX 5,313.98. The stock has a market cap of £67.25 billion, a PE ratio of 1,095.72, a P/E/G ratio of -0.64 and a beta of 0.65. 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 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 Increases Dividend

The business also recently announced a dividend, which was paid on Thursday, April 18th. Stockholders of record on Thursday, March 7th were given a GBX 203.77 ($2.54) dividend. This is an increase from Rio Tinto Group’s previous dividend of $137.67. The ex-dividend date of this dividend was 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 dated Thursday, February 22nd. The stock was sold at an average price of GBX 5,216 ($64.93), for a total value 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.