Berenberg Bank reaffirmed their buy rating on shares of Rio Tinto Group (LON:RIO – Free Report) in a research report sent to investors on Wednesday, MarketBeat reports. They currently have a GBX 5,900 ($73.45) price target on the stock.
RIO has been the topic of several other research reports. Royal Bank of Canada decreased 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 on the stock in a research note on Thursday, February 22nd. JPMorgan Chase & Co. reaffirmed an overweight rating on shares of Rio Tinto Group in a research note on Tuesday, April 9th. Bank of America reaffirmed a buy rating and issued a GBX 7,700 ($95.85) target price on shares of Rio Tinto Group in a research note on Wednesday. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a buy rating and issued a GBX 6,000 ($74.69) target price on shares of Rio Tinto Group in a research note on Thursday. Two analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of Moderate Buy and an average price target of GBX 6,351.25 ($79.06).
Rio Tinto Group Stock Performance
Rio Tinto Group Increases Dividend
The company also recently disclosed a dividend, which was paid on Thursday, April 18th. Stockholders of record on Thursday, March 7th were issued a dividend of GBX 203.77 ($2.54) per share. This represents a dividend yield of 3.9%. 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. Rio Tinto Group’s dividend payout ratio is presently 6,945.01%.
Insider Buying and Selling at Rio Tinto Group
In other Rio Tinto Group news, insider Peter Cunningham sold 3,939 shares of the firm’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). 14.71% of the stock is currently owned by corporate insiders.
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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