Brokerages Set Rio Tinto Group (NYSE:RIO) Target Price at $73.00

Rio Tinto Group (NYSE:RIO) has been assigned a consensus recommendation of “Moderate Buy” from the twelve analysts that are covering the company, MarketBeat reports. Four investment analysts have rated the stock with a hold recommendation, five have given a buy recommendation and three have issued a strong buy recommendation on the company. The average 1 year price objective among analysts that have covered the stock in the last year is $73.00.

A number of analysts have weighed in on the company. Clarkson Capital upgraded Rio Tinto Group to a “strong-buy” rating in a report on Friday, February 28th. Barclays reiterated an “overweight” rating on shares of Rio Tinto Group in a report on Wednesday, April 16th. DZ Bank raised Rio Tinto Group from a “hold” rating to a “strong-buy” rating in a research note on Thursday, March 27th. Morgan Stanley downgraded shares of Rio Tinto Group from an “overweight” rating to an “equal weight” rating in a research report on Wednesday, April 9th. Finally, StockNews.com downgraded shares of Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a research report on Monday.

Institutional Trading of Rio Tinto Group

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Callan Capital LLC grew its holdings in shares of Rio Tinto Group by 12.9% during the first quarter. Callan Capital LLC now owns 5,300 shares of the mining company’s stock valued at $318,000 after buying an additional 607 shares during the last quarter. TD Private Client Wealth LLC lifted its position in Rio Tinto Group by 12.1% in the 1st quarter. TD Private Client Wealth LLC now owns 4,926 shares of the mining company’s stock valued at $296,000 after acquiring an additional 533 shares in the last quarter. Capital Advisors Inc. OK boosted its stake in Rio Tinto Group by 3.7% during the 1st quarter. Capital Advisors Inc. OK now owns 425,301 shares of the mining company’s stock valued at $25,552,000 after purchasing an additional 15,264 shares during the last quarter. Traveka Wealth LLC bought a new stake in Rio Tinto Group during the 1st quarter worth approximately $200,000. Finally, Concurrent Investment Advisors LLC raised its stake in shares of Rio Tinto Group by 12.0% in the first quarter. Concurrent Investment Advisors LLC now owns 4,297 shares of the mining company’s stock worth $258,000 after purchasing an additional 459 shares during the last quarter. Institutional investors own 19.33% of the company’s stock.

Rio Tinto Group Trading Up 0.0 %

RIO opened at $60.90 on Wednesday. Rio Tinto Group has a twelve month low of $51.67 and a twelve month high of $74.24. The company has a fifty day moving average of $60.13 and a 200-day moving average of $61.47. The stock has a market cap of $76.37 billion, a PE ratio of 9.44, a price-to-earnings-growth ratio of 0.42 and a beta of 0.66. The company has a quick ratio of 1.16, a current ratio of 1.63 and a debt-to-equity ratio of 0.23.

Rio Tinto Group Increases Dividend

The company also recently announced a semi-annual dividend, which was paid on Thursday, April 17th. Investors of record on Friday, March 7th were issued a $2.23 dividend. This is a boost from Rio Tinto Group’s previous semi-annual dividend of $1.77. This represents a dividend yield of 7%. The ex-dividend date of this dividend was Friday, March 7th. Rio Tinto Group’s dividend payout ratio (DPR) is currently 69.15%.

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.