Analysts Set Rio Tinto Group (LON:RIO) Target Price at GBX 6,338.33

Rio Tinto Group (LON:RIO) has earned a consensus recommendation of “Moderate Buy” from the seven ratings firms that are currently covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is GBX 6,338.33 ($82.29).

Several equities research analysts have issued reports on the stock. Berenberg Bank reaffirmed a “buy” rating and set a GBX 6,200 ($80.50) target price on shares of Rio Tinto Group in a research note on Tuesday, October 15th. JPMorgan Chase & Co. dropped their price objective on shares of Rio Tinto Group from GBX 6,500 ($84.39) to GBX 6,430 ($83.48) and set an “overweight” rating for the company in a research note on Thursday, August 1st. Royal Bank of Canada reissued a “sector perform” rating and issued a GBX 5,700 ($74.01) target price on shares of Rio Tinto Group in a research note on Thursday, August 1st. Finally, Deutsche Bank Aktiengesellschaft dropped their price target on Rio Tinto Group from GBX 6,200 ($80.50) to GBX 6,000 ($77.90) and set a “buy” rating for the company in a research report on Monday, September 9th.

Insider Activity

In other Rio Tinto Group news, insider Simon Henry purchased 200 shares of the firm’s stock in a transaction dated Wednesday, October 23rd. The shares were acquired at an average price of GBX 4,956 ($64.35) per share, with a total value of £9,912 ($12,869.38). Corporate insiders own 14.62% of the company’s stock.

Rio Tinto Group Stock Down 0.3 %

Shares of RIO opened at GBX 4,934.50 ($64.07) on Tuesday. The stock has a 50 day moving average price of GBX 4,909.08 and a 200 day moving average price of GBX 5,156.95. Rio Tinto Group has a one year low of GBX 4,509 ($58.54) and a one year high of GBX 5,910 ($76.73). The company has a debt-to-equity ratio of 25.01, a quick ratio of 1.34 and a current ratio of 1.70. The stock has a market capitalization of £61.68 billion, a price-to-earnings ratio of 979.07, a PEG ratio of -0.64 and a beta of 0.59.

Rio Tinto Group Cuts Dividend

The company also recently declared a dividend, which was paid on Thursday, September 26th. Stockholders of record on Thursday, August 15th were paid a $1.77 dividend. The ex-dividend date was Thursday, August 15th. This represents a dividend yield of 2.79%. Rio Tinto Group’s dividend payout ratio (DPR) is 6,706.35%.

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.