Deutsche Bank Aktiengesellschaft restated their buy rating on shares of Rio Tinto Group (LON:RIO – Free Report) in a research report sent to investors on Thursday, MarketBeat reports. Deutsche Bank Aktiengesellschaft currently has a GBX 6,000 ($74.69) price objective on the stock.
Several other research analysts also recently commented on the company. JPMorgan Chase & Co. restated an overweight rating on shares of Rio Tinto Group in a research note on Tuesday, April 9th. Berenberg Bank restated a buy rating and issued a GBX 6,200 ($77.18) target price on shares of Rio Tinto Group in a research note on Monday, February 19th. Royal Bank of Canada cut their target price 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 note on Thursday, February 22nd. Finally, Bank of America reiterated 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. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average price target of GBX 6,351.25 ($79.06).
Read Our Latest Analysis on RIO
Rio Tinto Group Stock Down 0.6 %
Rio Tinto Group Increases Dividend
The firm also recently declared a dividend, which was paid on Thursday, April 18th. Stockholders of record on Thursday, March 7th were given a dividend of GBX 203.77 ($2.54) per share. This represents a dividend yield of 3.9%. The ex-dividend date was Thursday, March 7th. This is an increase from Rio Tinto Group’s previous dividend of $137.67. Rio Tinto Group’s dividend payout ratio (DPR) is 6,945.01%.
Insider Activity at Rio Tinto Group
In related 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 transaction of £205,458.24 ($255,767.76). 14.71% of the stock is currently owned by insiders.
About Rio Tinto Group
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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