Rio Tinto Group (LON:RIO) PT Lowered to GBX 6,430 at JPMorgan Chase & Co.

Rio Tinto Group (LON:RIO) had its price objective cut by JPMorgan Chase & Co. from GBX 6,500 ($83.61) to GBX 6,430 ($82.71) in a research report report published on Thursday morning, MarketBeat reports. They currently have an overweight rating on the stock.

Other analysts have also recently issued research reports about the stock. Citigroup reaffirmed a neutral rating on shares of Rio Tinto Group in a research note on Monday, June 17th. Berenberg Bank cut shares of Rio Tinto Group from a buy rating to a hold rating and dropped their price objective for the company from GBX 5,900 ($75.89) to GBX 5,800 ($74.61) in a research note on Wednesday, June 26th. Barclays reaffirmed an overweight rating and set a GBX 6,000 ($77.18) price objective on shares of Rio Tinto Group in a research note on Tuesday, May 7th. Bank of America reaffirmed a buy rating and set a GBX 7,700 ($99.05) price objective on shares of Rio Tinto Group in a research note on Wednesday, June 26th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a buy rating and set a GBX 6,200 ($79.75) price objective on shares of Rio Tinto Group in a research note on Tuesday, June 18th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, Rio Tinto Group presently has a consensus rating of Moderate Buy and an average target price of GBX 6,305 ($81.10).

Rio Tinto Group Stock Down 1.1 %

RIO stock opened at GBX 4,949.50 ($63.67) on Thursday. The stock has a market capitalization of £61.87 billion, a P/E ratio of 1,031.15, a P/E/G ratio of -0.64 and a beta of 0.63. The firm has a 50-day simple moving average of GBX 5,210.62 and a 200-day simple moving average of GBX 5,263.43. The company has a quick ratio of 1.34, a current ratio of 1.69 and a debt-to-equity ratio of 25.47. Rio Tinto Group has a 52 week low of GBX 4,509.50 ($58.01) and a 52 week high of GBX 5,910 ($76.02).

Rio Tinto Group Cuts Dividend

The company also recently announced a dividend, which will be paid on Thursday, September 26th. Shareholders of record on Thursday, August 15th will be issued a $1.77 dividend. The ex-dividend date of this dividend is Thursday, August 15th. This represents a yield of 2.79%. Rio Tinto Group’s payout ratio is 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.