Rio Tinto Group (LON:RIO) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of Rio Tinto Group (LON:RIO) have earned an average rating of “Moderate Buy” from the seven research firms that are presently covering the firm, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is GBX 6,305 ($82.91).

A number of equities analysts have recently commented on RIO shares. JPMorgan Chase & Co. reduced their price objective on shares of Rio Tinto Group from GBX 6,500 ($85.47) to GBX 6,430 ($84.55) and set an “overweight” rating for the company in a research note on Thursday, August 1st. Royal Bank of Canada restated a “sector perform” rating and issued a GBX 5,700 ($74.95) price target on shares of Rio Tinto Group in a research note on Thursday, August 1st. Bank of America reaffirmed a “buy” rating and set a GBX 7,700 ($101.25) price target on shares of Rio Tinto Group in a research report on Wednesday, June 26th. Citigroup reissued a “neutral” rating on shares of Rio Tinto Group in a report on Monday, June 17th. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a GBX 6,200 ($81.53) target price on shares of Rio Tinto Group in a report on Tuesday, June 18th.

Rio Tinto Group Stock Performance

Shares of RIO stock opened at GBX 4,580.88 ($60.24) on Monday. Rio Tinto Group has a 12 month low of GBX 4,509 ($59.29) and a 12 month high of GBX 5,910 ($77.71). The company’s fifty day simple moving average is GBX 4,951.15 and its 200-day simple moving average is GBX 5,158.64. The firm has a market cap of £57.26 billion, a PE ratio of 905.01, a P/E/G ratio of -0.64 and a beta of 0.63. The company has a quick ratio of 1.34, a current ratio of 1.70 and a debt-to-equity ratio of 25.01.

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 issued a dividend of $1.77 per share. This represents a yield of 2.79%. The ex-dividend date is Thursday, August 15th. Rio Tinto Group’s dividend payout ratio is 6,833.67%.

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.