Rio Tinto PLC (rio) to Issue Dividend of $1.26 on February 24th
Rio Tinto PLC (NYSE:rio) announced a dividend on Thursday, February 9th. Shareholders of record on Friday, February 24th will be paid a dividend of 1.258 per share by the mining company on Friday, February 24th. The ex-dividend date of this dividend is Wednesday, February 22nd. This is a positive change from Rio Tinto PLC’s previous dividend of $0.45.
Shares of Rio Tinto PLC (NYSE:RIO) opened at 46.13 on Friday. Rio Tinto PLC has a 12 month low of $25.06 and a 12 month high of $47.11. The firm has a 50-day moving average price of $42.94 and a 200 day moving average price of $36.64. The firm has a market capitalization of $82.99 billion, a price-to-earnings ratio of 18.07 and a beta of 1.19.
RIO has been the topic of a number of recent analyst reports. Deutsche Bank AG reissued a “buy” rating on shares of Rio Tinto PLC in a research note on Saturday, October 22nd. Sanford C. Bernstein reissued an “outperform” rating on shares of Rio Tinto PLC in a research note on Thursday, October 27th. Cowen and Company raised their price objective on Rio Tinto PLC from $35.00 to $42.00 and gave the company a “market perform” rating in a research note on Thursday, November 10th. HSBC Holdings plc initiated coverage on Rio Tinto PLC in a research note on Thursday, November 10th. They issued a “buy” rating on the stock. Finally, Barclays PLC reissued an “overweight” rating on shares of Rio Tinto PLC in a research note on Thursday, November 10th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and fourteen have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $37.00.
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About Rio Tinto PLC
Rio Tinto plc is a mining company. The Company focuses on finding, mining, processing and marketing the Earth’s mineral resources. The Company’s segments include aluminum, copper and coal, diamonds and minerals, and iron ore. The Company’s aluminum business includes bauxite mines, alumina refineries and aluminum smelters.
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