Rio Tinto Group (NYSE:RIO – Get Free Report) has earned a consensus rating of “Moderate Buy” from the twelve analysts that are covering the firm, MarketBeat reports. Four analysts have rated the stock with a hold recommendation, five have issued a buy recommendation and three have assigned a strong buy recommendation to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $73.00.
Several analysts recently commented on the stock. DZ Bank upgraded shares of Rio Tinto Group from a “hold” rating to a “strong-buy” rating in a research report on Thursday, March 27th. StockNews.com upgraded Rio Tinto Group from a “buy” rating to a “strong-buy” rating in a research note on Sunday, April 20th. Clarkson Capital upgraded Rio Tinto Group to a “strong-buy” rating in a research report on Friday, February 28th. JPMorgan Chase & Co. began coverage on Rio Tinto Group in a research note on Tuesday, March 18th. They set an “overweight” rating for the company. Finally, Morgan Stanley cut shares of Rio Tinto Group from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, April 9th.
Get Our Latest Stock Analysis on Rio Tinto Group
Rio Tinto Group Trading Down 1.8 %
Rio Tinto Group Increases Dividend
The firm also recently announced a semi-annual dividend, which was paid on Thursday, April 17th. Shareholders of record on Friday, March 7th were paid a dividend of $2.23 per share. This represents a yield of 7%. The ex-dividend date of this dividend was Friday, March 7th. This is a boost from Rio Tinto Group’s previous semi-annual dividend of $1.77. Rio Tinto Group’s payout ratio is 69.15%.
Institutional Investors Weigh In On Rio Tinto Group
A number of hedge funds have recently modified their holdings of the business. Thurston Springer Miller Herd & Titak Inc. grew its stake in Rio Tinto Group by 63.9% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 500 shares of the mining company’s stock valued at $29,000 after acquiring an additional 195 shares in the last quarter. Rakuten Securities Inc. boosted its stake in Rio Tinto Group by 74.8% during the fourth quarter. Rakuten Securities Inc. now owns 493 shares of the mining company’s stock worth $29,000 after buying an additional 211 shares during the last quarter. Mechanics Financial Corp purchased a new stake in Rio Tinto Group in the 4th quarter valued at $29,000. Alpine Bank Wealth Management acquired a new stake in shares of Rio Tinto Group in the 1st quarter worth $30,000. Finally, Bfsg LLC raised its holdings in shares of Rio Tinto Group by 5,754.5% during the 1st quarter. Bfsg LLC now owns 644 shares of the mining company’s stock worth $39,000 after acquiring an additional 633 shares during the period. 19.33% of the stock is currently owned by institutional investors and hedge funds.
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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