Barclays reiterated their overweight rating on shares of Rio Tinto Group (LON:RIO – Free Report) in a report released on Tuesday, MarketBeat reports. They currently have a GBX 6,000 ($75.38) target price on the stock.
A number of other equities analysts also recently commented on the company. JPMorgan Chase & Co. decreased their target price on Rio Tinto Group from GBX 6,630 ($83.29) to GBX 6,610 ($83.04) and set an overweight rating for the company in a research note on Thursday, April 18th. Deutsche Bank Aktiengesellschaft restated a buy rating and issued a GBX 6,000 ($75.38) target price on shares of Rio Tinto Group in a research note on Thursday, April 18th. Berenberg Bank restated a buy rating and issued a GBX 5,900 ($74.12) target price on shares of Rio Tinto Group in a research note on Wednesday, April 17th. Bank of America reiterated a buy rating and set a GBX 7,700 ($96.73) price objective on shares of Rio Tinto Group in a research report on Wednesday, April 17th. Finally, Royal Bank of Canada reduced their price objective on Rio Tinto Group from GBX 6,100 ($76.63) to GBX 5,900 ($74.12) and set a sector perform rating for the company in a research report on Thursday, February 22nd. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of Moderate Buy and a consensus price target of GBX 6,301.25 ($79.16).
View Our Latest Research Report on Rio Tinto Group
Rio Tinto Group Stock Performance
Rio Tinto Group Increases Dividend
The company also recently announced a dividend, which was paid on Thursday, April 18th. Investors of record on Thursday, March 7th were issued a dividend of GBX 203.77 ($2.56) per share. This is a boost from Rio Tinto Group’s previous dividend of $137.67. The ex-dividend date was Thursday, March 7th. This represents a yield of 3.9%. Rio Tinto Group’s payout ratio is presently 6,945.01%.
Insider Buying and Selling
In related news, insider Peter Cunningham sold 3,939 shares of the business’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of GBX 5,216 ($65.53), for a total transaction of £205,458.24 ($258,113.37). 14.66% of the stock is owned by corporate 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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