Berenberg Bank Reaffirms Buy Rating for Rio Tinto Group (LON:RIO)

Berenberg Bank reiterated their buy rating on shares of Rio Tinto Group (LON:RIO) in a report released on Wednesday, Marketbeat reports. The firm currently has a GBX 5,900 ($73.45) price target on the stock.

Several other analysts have also recently weighed in on RIO. Royal Bank of Canada dropped their price target on shares of 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. JPMorgan Chase & Co. reissued an overweight rating on shares of Rio Tinto Group in a research note on Tuesday, April 9th. Bank of America reissued a buy rating and issued a GBX 7,700 ($95.85) price target on shares of Rio Tinto Group in a research note on Wednesday. Finally, Deutsche Bank Aktiengesellschaft reissued a buy rating and issued a GBX 6,000 ($74.69) price target on shares of Rio Tinto Group in a research note on Thursday. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, Rio Tinto Group presently has a consensus rating of Moderate Buy and an average price target of GBX 6,351.25 ($79.06).

Rio Tinto Group Stock Up 0.2 %

RIO stock opened at GBX 5,380 ($66.97) on Wednesday. The company has a market cap of £67.25 billion, a price-to-earnings ratio of 1,095.72, a PEG ratio of -0.64 and a beta of 0.65. The company has a current ratio of 1.69, a quick ratio of 1.34 and a debt-to-equity ratio of 25.47. Rio Tinto Group has a 12 month low of GBX 4,509.50 ($56.14) and a 12 month high of GBX 5,910 ($73.57). The firm has a 50-day moving average of GBX 5,115.61 and a two-hundred day moving average of GBX 5,315.93.

Rio Tinto Group Increases Dividend

The business also recently disclosed a dividend, which was paid on Thursday, April 18th. Investors of record on Thursday, March 7th were given a dividend of GBX 203.77 ($2.54) per share. The ex-dividend date was Thursday, March 7th. This represents a dividend yield of 3.9%. This is a boost from Rio Tinto Group’s previous dividend of $137.67. Rio Tinto Group’s dividend payout ratio (DPR) is presently 6,945.01%.

Insider Buying and Selling

In other Rio Tinto Group news, insider Peter Cunningham sold 3,939 shares of the stock in a transaction that occurred on Thursday, February 22nd. The shares were 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 currently owned by corporate insiders.

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.