Deutsche Bank Aktiengesellschaft reiterated their buy rating on shares of Rio Tinto Group (LON:RIO – Free Report) in a research note issued to investors on Thursday, MarketBeat reports. They currently have a GBX 6,000 ($74.69) price target on the stock.
Other research analysts also recently issued research reports about the company. Berenberg Bank reaffirmed a buy rating and issued a GBX 6,200 ($77.18) price target on shares of Rio Tinto Group in a research note on Monday, February 19th. 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 set a GBX 7,700 ($95.85) target price on shares of Rio Tinto Group in a research note on Wednesday. Finally, Royal Bank of Canada lowered their target price on 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. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of Moderate Buy and a consensus price target of GBX 6,351.25 ($79.06).
Rio Tinto Group Stock Down 0.6 %
Rio Tinto Group Increases Dividend
The company also recently disclosed a dividend, which was paid on Thursday, April 18th. Stockholders of record on Thursday, March 7th were paid a GBX 203.77 ($2.54) dividend. The ex-dividend date of this dividend was Thursday, March 7th. This represents a dividend yield of 3.9%. This is an increase from Rio Tinto Group’s previous dividend of $137.67. Rio Tinto Group’s dividend payout ratio is currently 6,945.01%.
Insider Activity
In other news, insider Peter Cunningham sold 3,939 shares of the company’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of GBX 5,216 ($64.93), for a total value of £205,458.24 ($255,767.76). 14.71% of the stock is currently owned by insiders.
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.
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