Rio Tinto Group (LON:RIO) Receives Buy Rating from Berenberg Bank

Berenberg Bank restated their buy rating on shares of Rio Tinto Group (LON:RIO) in a report issued on Wednesday morning, Digital Look reports. The firm currently has a GBX 5,900 ($73.45) price objective on the stock.

A number of other brokerages have also recently weighed in on RIO. JPMorgan Chase & Co. reiterated an overweight rating on shares of Rio Tinto Group in a research report on Tuesday, April 9th. Deutsche Bank Aktiengesellschaft reiterated 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. Bank of America reiterated 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. Finally, Royal Bank of Canada dropped 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. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of Moderate Buy and a consensus target price of GBX 6,405 ($79.73).

Rio Tinto Group Stock Up 0.8 %

Shares of Rio Tinto Group stock opened at GBX 5,429 ($67.58) on Wednesday. The company has a current ratio of 1.69, a quick ratio of 1.34 and a debt-to-equity ratio of 25.47. The business’s 50 day simple moving average is GBX 5,114.71 and its 200-day simple moving average is GBX 5,311.76. The stock has a market capitalization of £67.86 billion, a price-to-earnings ratio of 1,103.87, a PEG ratio of -0.64 and a beta of 0.65. Rio Tinto Group has a twelve month low of GBX 4,509.50 ($56.14) and a twelve month high of GBX 5,910 ($73.57).

Rio Tinto Group Increases Dividend

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

Insider Activity at Rio Tinto Group

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