Shares of Rio Tinto Group (LON:RIO – Get Free Report) have earned an average rating of “Moderate Buy” from the seven analysts that are covering the stock, MarketBeat reports. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is GBX 6,305 ($80.50).
Several analysts have recently issued reports on the stock. Barclays reiterated an “overweight” rating and issued a GBX 6,000 ($76.61) target price on shares of Rio Tinto Group in a research note on Tuesday, May 7th. Bank of America restated a “buy” rating and set a GBX 7,700 ($98.31) price target on shares of Rio Tinto Group in a research report on Wednesday, June 26th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a GBX 6,200 ($79.16) price target on shares of Rio Tinto Group in a research report on Tuesday, June 18th. Berenberg Bank lowered shares of Rio Tinto Group from a “buy” rating to a “hold” rating and reduced their price target for the company from GBX 5,900 ($75.33) to GBX 5,800 ($74.06) in a research report on Wednesday, June 26th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Rio Tinto Group from GBX 6,500 ($82.99) to GBX 6,430 ($82.10) and set an “overweight” rating for the company in a research report on Thursday, August 1st.
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Rio Tinto Group Stock Performance
Rio Tinto Group Cuts Dividend
The firm also recently declared a dividend, which will be paid on Thursday, September 26th. Shareholders of record on Thursday, August 15th will be given a dividend of $1.77 per share. This represents a yield of 2.79%. The ex-dividend date of this dividend is Thursday, August 15th. Rio Tinto Group’s payout ratio is currently 7,104.17%.
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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