Analysts Set Rio Tinto Group (LON:RIO) Price Target at GBX 6,305

Shares of Rio Tinto Group (LON:RIO) have earned a consensus recommendation of “Moderate Buy” from the seven analysts that are presently covering the company, Marketbeat reports. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is GBX 6,305 ($82.91).

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

Rio Tinto Group Price Performance

Shares of LON:RIO opened at GBX 4,581 ($60.24) on Monday. The stock has a market cap of £57.26 billion, a price-to-earnings ratio of 918.04, a PEG ratio of -0.64 and a beta of 0.63. The company has a debt-to-equity ratio of 25.01, a current ratio of 1.70 and a quick ratio of 1.34. Rio Tinto Group has a 12 month low of GBX 4,522.57 ($59.47) and a 12 month high of GBX 5,910 ($77.71). The stock’s 50 day moving average price is GBX 4,977.87 and its 200 day moving average price is GBX 5,169.56.

Rio Tinto Group Cuts Dividend

The company also recently declared a dividend, which will be paid on Thursday, September 26th. Stockholders of record on Thursday, August 15th will be issued a dividend of $1.77 per share. The ex-dividend date is Thursday, August 15th. This represents a dividend yield of 2.79%. 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.