Rio Tinto Group (LON:RIO) Receives “Overweight” Rating from Barclays

Barclays reiterated their overweight rating on shares of Rio Tinto Group (LON:RIO) in a research report sent to investors on Tuesday morning, MarketBeat Ratings reports. Barclays currently has a GBX 6,000 ($75.38) target price on the stock.

Other analysts have also issued research reports about the stock. JPMorgan Chase & Co. cut their target price on shares of 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 research report on Thursday, April 18th. Bank of America reiterated a buy rating and set a GBX 7,700 ($96.73) price target on shares of Rio Tinto Group in a report on Wednesday, April 17th. Royal Bank of Canada cut their price target on shares of Rio Tinto Group from GBX 6,100 ($76.63) to GBX 5,900 ($74.12) and set a sector perform rating on the stock in a report on Thursday, February 22nd. Berenberg Bank reiterated a buy rating and set a GBX 5,900 ($74.12) price target on shares of Rio Tinto Group in a report on Wednesday, April 17th. Finally, Deutsche Bank Aktiengesellschaft reiterated a buy rating and set a GBX 6,000 ($75.38) price target on shares of Rio Tinto Group 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. According to data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average target price of GBX 6,301.25 ($79.16).

Rio Tinto Group Stock Performance

Shares of Rio Tinto Group stock opened at GBX 5,584 ($70.15) on Tuesday. Rio Tinto Group has a fifty-two week low of GBX 4,509.50 ($56.65) and a fifty-two week high of GBX 5,910 ($74.25). The company has a debt-to-equity ratio of 25.47, a current ratio of 1.69 and a quick ratio of 1.34. The firm has a market capitalization of £69.80 billion, a P/E ratio of 1,137.27, a P/E/G ratio of -0.64 and a beta of 0.65. The company’s 50 day moving average price is GBX 5,168.51 and its two-hundred day moving average price is GBX 5,352.96.

Rio Tinto Group Increases Dividend

The company also recently announced a dividend, which was paid on Thursday, April 18th. Investors of record on Thursday, March 7th were paid a dividend of GBX 203.77 ($2.56) per share. This represents a yield of 3.9%. The ex-dividend date was Thursday, March 7th. This is an increase from Rio Tinto Group’s previous dividend of $137.67. Rio Tinto Group’s dividend payout ratio (DPR) is currently 6,945.01%.

Insider Buying and Selling

In related news, insider Peter Cunningham sold 3,939 shares of Rio Tinto Group stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of GBX 5,216 ($65.53), for a total transaction of £205,458.24 ($258,113.37). 14.66% 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.