Rio Tinto Group (LON:RIO) Receives GBX 6,271.67 Consensus Target Price from Analysts

Rio Tinto Group (LON:RIO) has been assigned an average rating of “Moderate Buy” from the seven ratings firms that are currently covering the firm, MarketBeat reports. Three equities research analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is GBX 6,271.67 ($83.89).

A number of equities analysts have issued reports on RIO shares. Berenberg Bank cut shares of Rio Tinto Group from a “buy” rating to a “hold” rating and reduced their price objective for the company from GBX 5,900 ($78.92) to GBX 5,800 ($77.58) in a research note on Wednesday, June 26th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a GBX 5,700 ($76.24) price objective on shares of Rio Tinto Group in a research note on Thursday, August 1st. Bank of America reissued a “buy” rating and issued a GBX 7,700 ($103.00) target price on shares of Rio Tinto Group in a research note on Wednesday, June 26th. Deutsche Bank Aktiengesellschaft decreased their target price on Rio Tinto Group from GBX 6,200 ($82.93) to GBX 6,000 ($80.26) and set a “buy” rating for the company in a research report on Monday, September 9th. Finally, Citigroup reaffirmed a “neutral” rating on shares of Rio Tinto Group in a research note on Monday, June 17th.

Rio Tinto Group Price Performance

Shares of RIO stock opened at GBX 5,385 ($72.03) on Friday. The company has a quick ratio of 1.34, a current ratio of 1.70 and a debt-to-equity ratio of 25.01. Rio Tinto Group has a 12 month low of GBX 4,509 ($60.31) and a 12 month high of GBX 5,910 ($79.05). The firm has a market cap of £67.31 billion, a price-to-earnings ratio of 1,076.83, a PEG ratio of -0.64 and a beta of 0.59. The stock has a 50-day moving average price of GBX 4,863.97 and a 200 day moving average price of GBX 5,141.26.

Rio Tinto Group Cuts Dividend

The company also recently declared a dividend, which was paid on Thursday, September 26th. Shareholders of record on Thursday, August 15th were given a dividend of $1.77 per share. This represents a yield of 2.79%. The ex-dividend date of this dividend was Thursday, August 15th. Rio Tinto Group’s dividend payout ratio (DPR) is currently 6,869.92%.

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.