Rio Tinto Group (NYSE:RIO) – Research analysts at Jefferies Financial Group lowered their FY2025 EPS estimates for Rio Tinto Group in a report released on Wednesday, September 22nd. Jefferies Financial Group analyst C. Lafemina now expects that the mining company will post earnings of $8.55 per share for the year, down from their previous estimate of $8.57. Jefferies Financial Group has a “Buy” rating and a $112.00 price objective on the stock.
Several other research firms also recently weighed in on RIO. CLSA downgraded Rio Tinto Group from an “underperform” rating to a “sell” rating in a report on Thursday, July 29th. Zacks Investment Research downgraded Rio Tinto Group from a “hold” rating to a “strong sell” rating in a report on Thursday, September 9th. Berenberg Bank restated a “hold” rating on shares of Rio Tinto Group in a report on Thursday, July 8th. JPMorgan Chase & Co. reiterated an “overweight” rating on shares of Rio Tinto Group in a report on Monday, September 13th. Finally, The Goldman Sachs Group upgraded shares of Rio Tinto Group from a “neutral” rating to a “buy” rating and set a $144.40 target price for the company in a report on Friday, July 16th. Four research analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, Rio Tinto Group has a consensus rating of “Hold” and a consensus price target of $108.60.
The firm also recently announced a special dividend, which was paid on Thursday, September 23rd. Stockholders of record on Friday, August 13th were paid a dividend of $1.85 per share. This represents a dividend yield of 6.9%. This is an increase from Rio Tinto Group’s previous special dividend of $1.20. The ex-dividend date was Thursday, August 12th. Rio Tinto Group’s dividend payout ratio is presently 97.66%.
Several hedge funds have recently made changes to their positions in the company. MV Capital Management Inc. acquired a new position in Rio Tinto Group in the 2nd quarter valued at $25,000. First National Bank of South Miami raised its stake in Rio Tinto Group by 409.7% in the 1st quarter. First National Bank of South Miami now owns 367 shares of the mining company’s stock valued at $28,000 after purchasing an additional 295 shares during the last quarter. Stonebridge Capital Advisors LLC acquired a new position in Rio Tinto Group in the 1st quarter valued at $33,000. Credit Agricole S A purchased a new stake in Rio Tinto Group in the 1st quarter valued at $39,000. Finally, Twin Lakes Capital Management LLC purchased a new stake in Rio Tinto Group in the 1st quarter valued at $39,000. 8.01% of the stock is owned by institutional investors and hedge funds.
About Rio Tinto Group
Rio Tinto Plc engages in the exploration, mining, and processing of mineral resources. It operates through the following business segments: Iron Ore, Aluminium, Copper and Diamonds, Energy and Minerals, and Other Operations. The Iron Ore segment supplies global seaborne iron ore trade. The Aluminium segment produces bauxite, alumina and primary aluminum.
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