Rio Tinto Group (LON:RIO – Free Report) had its price target decreased by JPMorgan Chase & Co. from GBX 6,630 ($82.53) to GBX 6,610 ($82.29) in a research report sent to investors on Thursday, Marketbeat.com reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.
Several other brokerages have also recently issued reports on RIO. Bank of America reiterated a buy rating and issued a GBX 7,700 ($95.85) price objective on shares of Rio Tinto Group in a research note on Wednesday. Royal Bank of Canada decreased their price objective 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. Deutsche Bank Aktiengesellschaft reiterated a buy rating and issued a GBX 6,000 ($74.69) price objective on shares of Rio Tinto Group in a research note on Thursday. Finally, Berenberg Bank reiterated a buy rating and issued a GBX 5,900 ($73.45) price objective on shares of Rio Tinto Group in a research note on Wednesday. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus target price of GBX 6,351.25 ($79.06).
View Our Latest Stock Report on Rio Tinto Group
Rio Tinto Group Stock Performance
Rio Tinto Group Increases Dividend
The firm also recently announced a dividend, which was paid on Thursday, April 18th. Investors of record on Thursday, March 7th were paid a dividend of GBX 203.77 ($2.54) per share. This is a boost from Rio Tinto Group’s previous dividend of $137.67. The ex-dividend date of this dividend 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 ($64.93), for a total transaction of £205,458.24 ($255,767.76). 14.71% of the stock is owned by company 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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