Barclays reissued their overweight rating on shares of Rio Tinto Group (LON:RIO – Free Report) in a research note published on Tuesday morning, MarketBeat Ratings reports. Barclays currently has a GBX 6,000 ($75.38) price objective on the stock.
RIO has been the subject of several other research reports. Royal Bank of Canada lowered their price target on Rio Tinto Group from GBX 6,100 ($76.63) to GBX 5,900 ($74.12) and set a sector perform rating for the company in a research report on Thursday, February 22nd. Deutsche Bank Aktiengesellschaft reissued a buy rating and issued a GBX 6,000 ($75.38) target price on shares of Rio Tinto Group in a report on Thursday, April 18th. Berenberg Bank reaffirmed a buy rating and set a GBX 5,900 ($74.12) price objective on shares of Rio Tinto Group in a report on Wednesday, April 17th. Bank of America reaffirmed a buy rating and set a GBX 7,700 ($96.73) price objective on shares of Rio Tinto Group in a report on Wednesday, April 17th. Finally, JPMorgan Chase & Co. decreased their price objective on Rio Tinto Group from GBX 6,630 ($83.29) to GBX 6,610 ($83.04) and set an overweight rating on the stock in a report on Thursday, April 18th. One analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of Moderate Buy and a consensus target price of GBX 6,301.25 ($79.16).
View Our Latest Research Report on RIO
Rio Tinto Group Price Performance
Rio Tinto Group Increases Dividend
The firm also recently announced a dividend, which was paid on Thursday, April 18th. Shareholders of record on Thursday, March 7th were paid a GBX 203.77 ($2.56) dividend. 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. This represents a yield of 3.9%. Rio Tinto Group’s dividend payout ratio (DPR) is presently 6,945.01%.
Insider Transactions at Rio Tinto Group
In other Rio Tinto Group news, insider Peter Cunningham sold 3,939 shares of the company’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of GBX 5,216 ($65.53), for a total value of £205,458.24 ($258,113.37). Corporate insiders own 14.66% 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.
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