Rio Tinto Group (LON:RIO) Rating Reiterated by Berenberg Bank

Berenberg Bank reaffirmed their buy rating on shares of Rio Tinto Group (LON:RIO) in a research report released on Wednesday, Digital Look reports. They currently have a GBX 5,900 ($73.45) target price on the stock.

A number of other research firms have also commented on RIO. Bank of America reaffirmed a buy rating and set a GBX 7,700 ($95.85) target price on shares of Rio Tinto Group in a report on Wednesday. Royal Bank of Canada reduced their target price on shares of Rio Tinto Group from GBX 6,100 ($75.94) to GBX 5,900 ($73.45) and set a sector perform rating for the company in a research note on Thursday, February 22nd. Deutsche Bank Aktiengesellschaft reaffirmed a buy rating and issued a GBX 6,000 ($74.69) target price on shares of Rio Tinto Group in a research note on Thursday. Finally, JPMorgan Chase & Co. reissued an overweight rating on shares of Rio Tinto Group in a research report on Tuesday, April 9th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of Moderate Buy and an average price target of GBX 6,405 ($79.73).

Rio Tinto Group Stock Performance

RIO stock opened at GBX 5,429 ($67.58) on Wednesday. The company has a 50 day moving average price of GBX 5,114.71 and a 200 day moving average price of GBX 5,311.76. The company has a debt-to-equity ratio of 25.47, a current ratio of 1.69 and a quick ratio of 1.34. Rio Tinto Group has a fifty-two week low of GBX 4,509.50 ($56.14) and a fifty-two week high of GBX 5,910 ($73.57). The stock has a market capitalization of £67.86 billion, a PE ratio of 1,103.87, a price-to-earnings-growth ratio of -0.64 and a beta of 0.65.

Rio Tinto Group Increases Dividend

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

Insider Activity

In other news, insider Peter Cunningham sold 3,939 shares of the company’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of GBX 5,216 ($64.93), for a total value of £205,458.24 ($255,767.76). 14.71% of the stock is owned by 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.