Rio Tinto Group (LON:RIO) Plans Dividend of $1.77

Rio Tinto Group (LON:RIO) declared a dividend on Wednesday, July 31st, Upcoming.Co.Uk reports. Stockholders of record on Thursday, August 15th will be paid a dividend of $1.77 per share on Thursday, September 26th. This represents a dividend yield of 2.79%. The ex-dividend date is Thursday, August 15th. The official announcement can be seen at this link.

Rio Tinto Group Stock Performance

Shares of RIO opened at GBX 5,031 ($64.72) on Thursday. The stock has a 50 day moving average of GBX 5,238.25 and a 200 day moving average of GBX 5,270.91. 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 ($58.01) and a 12 month high of GBX 5,910 ($76.02). The company has a market capitalization of £62.89 billion, a price-to-earnings ratio of 1,047.08, a PEG ratio of -0.64 and a beta of 0.63.

Wall Street Analyst Weigh In

RIO has been the topic of a number of recent analyst reports. Berenberg Bank cut Rio Tinto Group from a “buy” rating to a “hold” rating and lowered their target price for the stock from GBX 5,900 ($75.89) to GBX 5,800 ($74.61) in a research note on Wednesday, June 26th. JPMorgan Chase & Co. reaffirmed an “overweight” rating and issued a GBX 6,500 ($83.61) price objective on shares of Rio Tinto Group in a research report on Wednesday, July 17th. Bank of America reissued a “buy” rating and set a GBX 7,700 ($99.05) target price on shares of Rio Tinto Group in a research report on Wednesday, June 26th. Barclays reaffirmed an “overweight” rating and issued a GBX 6,000 ($77.18) price target on shares of Rio Tinto Group in a report on Tuesday, May 7th. Finally, Citigroup reissued a “neutral” rating on shares of Rio Tinto Group in a report on Monday, June 17th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of GBX 6,228.57 ($80.12).

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.