Rio Tinto Group’s (RIO) “Buy” Rating Reaffirmed at Deutsche Bank Aktiengesellschaft

Deutsche Bank Aktiengesellschaft reissued their buy rating on shares of Rio Tinto Group (LON:RIO) in a research note released on Thursday morning, Marketbeat reports. Deutsche Bank Aktiengesellschaft currently has a GBX 6,000 ($74.69) target price on the stock.

Several other analysts have also recently weighed in on RIO. JPMorgan Chase & Co. reaffirmed an overweight rating on shares of Rio Tinto Group in a report on Tuesday, April 9th. Royal Bank of Canada reduced their price objective 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. Berenberg Bank reiterated a buy rating and set a GBX 6,200 ($77.18) price objective on shares of Rio Tinto Group in a research report on Monday, February 19th. Finally, Bank of America reiterated a buy rating and set a GBX 7,700 ($95.85) price objective on shares of Rio Tinto Group in a research report on Wednesday, April 17th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of Moderate Buy and a consensus price target of GBX 6,351.25 ($79.06).

Rio Tinto Group Stock Performance

LON:RIO opened at GBX 5,380 ($66.97) on Thursday. The business’s 50-day moving average price is GBX 5,115.61 and its two-hundred day moving average price is GBX 5,318.64. 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). The stock has a market cap of £67.25 billion, a P/E ratio of 1,095.72, a PEG ratio of -0.64 and a beta of 0.65. The company has a quick ratio of 1.34, a current ratio of 1.69 and a debt-to-equity ratio of 25.47.

Rio Tinto Group Increases Dividend

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

Insider Buying and Selling

In related news, insider Peter Cunningham sold 3,939 shares of the firm’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 transaction of £205,458.24 ($255,767.76). 14.71% of the stock is owned by corporate 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.