Rio Tinto Group (LON:RIO) Given New GBX 6,610 Price Target at JPMorgan Chase & Co.

Rio Tinto Group (LON:RIO) had its target price trimmed by JPMorgan Chase & Co. from GBX 6,630 ($82.53) to GBX 6,610 ($82.29) in a research report sent to investors on Thursday, MarketBeat reports. The brokerage currently has an overweight rating on the stock.

Several other equities research analysts also recently weighed in on RIO. Royal Bank of Canada cut their price target on Rio Tinto Group from GBX 6,100 ($75.94) to GBX 5,900 ($73.45) and set a sector perform rating on the stock in a research report on Thursday, February 22nd. Deutsche Bank Aktiengesellschaft reaffirmed a buy rating and set a GBX 6,000 ($74.69) price target on shares of Rio Tinto Group in a research report on Thursday. Berenberg Bank reaffirmed a buy rating and set a GBX 5,900 ($73.45) price target on shares of Rio Tinto Group in a research report on Wednesday. Finally, Bank of America reaffirmed a buy rating and set a GBX 7,700 ($95.85) price target on shares of Rio Tinto Group in a research report on Wednesday. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of Moderate Buy and a consensus target price of GBX 6,351.25 ($79.06).

Rio Tinto Group Price Performance

Shares of RIO opened at GBX 5,341 ($66.49) on Thursday. The business’s 50-day moving average is GBX 5,114.89 and its two-hundred day moving average is GBX 5,312.17. The company has a market capitalization of £66.76 billion, a P/E ratio of 1,093.89, a P/E/G ratio of -0.64 and a beta of 0.65. The company has a debt-to-equity ratio of 25.47, a quick ratio of 1.34 and a current ratio of 1.69. Rio Tinto Group has a fifty-two week low of GBX 4,509.50 ($56.14) and a fifty-two week high of GBX 5,910 ($73.57).

Rio Tinto Group Increases Dividend

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

Insider Activity

In related news, insider Peter Cunningham sold 3,939 shares of the firm’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of GBX 5,216 ($64.93), for a total value of £205,458.24 ($255,767.76). Insiders own 14.71% of the company’s stock.

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.