Rio Tinto Group’s (RIO) Sector perform Rating Reaffirmed at Royal Bank of Canada

Royal Bank of Canada restated their sector perform rating on shares of Rio Tinto Group (LON:RIO) in a report released on Thursday morning, Marketbeat reports. They currently have a GBX 5,700 ($73.32) target price on the stock.

Several other equities analysts have also issued reports on RIO. Citigroup reaffirmed a neutral rating on shares of Rio Tinto Group in a report on Monday, June 17th. JPMorgan Chase & Co. reduced their price objective on Rio Tinto Group from GBX 6,500 ($83.61) to GBX 6,430 ($82.71) and set an overweight rating for the company in a report on Thursday. Bank of America reissued a buy rating and set a GBX 7,700 ($99.05) price objective on shares of Rio Tinto Group in a report on Wednesday, June 26th. Barclays reissued an overweight rating and set a GBX 6,000 ($77.18) price objective on shares of Rio Tinto Group in a report on Tuesday, May 7th. Finally, Deutsche Bank Aktiengesellschaft reissued a buy rating and set a GBX 6,200 ($79.75) price objective on shares of Rio Tinto Group in a report on Tuesday, June 18th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of Moderate Buy and an average target price of GBX 6,305 ($81.10).

Rio Tinto Group Stock Performance

Shares of RIO opened at GBX 4,949.50 ($63.67) on Thursday. The firm has a market capitalization of £61.87 billion, a P/E ratio of 1,031.15, a P/E/G ratio of -0.64 and a beta of 0.63. The company has a debt-to-equity ratio of 25.47, a quick ratio of 1.34 and a current ratio of 1.69. The stock has a 50 day moving average price of GBX 5,210.62 and a two-hundred day moving average price of GBX 5,263.43. Rio Tinto Group has a 52 week low of GBX 4,509.50 ($58.01) and a 52 week high of GBX 5,910 ($76.02).

Rio Tinto Group Cuts Dividend

The business also recently announced a dividend, which will be paid on Thursday, September 26th. Shareholders of record on Thursday, August 15th will be given a dividend of $1.77 per share. The ex-dividend date of this dividend is Thursday, August 15th. This represents a dividend yield of 2.79%. Rio Tinto Group’s dividend payout ratio is currently 7,104.17%.

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.