Rio Tinto Group (NYSE:RIO) Upgraded by DZ Bank to “Strong-Buy” Rating

DZ Bank upgraded shares of Rio Tinto Group (NYSE:RIO) from a hold rating to a strong-buy rating in a research note published on Thursday morning,Zacks.com reports.

Other analysts have also recently issued reports about the company. JPMorgan Chase & Co. started coverage on Rio Tinto Group in a research note on Tuesday, March 18th. They issued an “overweight” rating for the company. Jefferies Financial Group dropped their price objective on shares of Rio Tinto Group from $83.00 to $73.00 and set a “buy” rating for the company in a research note on Monday, January 6th. StockNews.com downgraded shares of Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a report on Saturday, February 22nd. Finally, Clarkson Capital raised shares of Rio Tinto Group to a “strong-buy” rating in a research note on Friday, February 28th. Three analysts have rated the stock with a hold rating, five have given a buy rating and three have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $73.00.

Rio Tinto Group Stock Down 2.2 %

RIO stock opened at $60.99 on Thursday. Rio Tinto Group has a twelve month low of $57.85 and a twelve month high of $74.24. The company has a quick ratio of 1.16, a current ratio of 1.63 and a debt-to-equity ratio of 0.23. The company has a market cap of $76.48 billion, a PE ratio of 9.46, a price-to-earnings-growth ratio of 0.42 and a beta of 0.60. The business’s 50-day simple moving average is $62.11 and its 200 day simple moving average is $62.92.

Rio Tinto Group Increases Dividend

The company also recently declared a semi-annual dividend, which will be paid on Thursday, April 17th. Investors of record on Friday, March 7th will be issued a dividend of $2.23 per share. This is an increase from Rio Tinto Group’s previous semi-annual dividend of $1.77. This represents a yield of 7%. The ex-dividend date of this dividend is Friday, March 7th. Rio Tinto Group’s dividend payout ratio (DPR) is currently 69.15%.

Institutional Trading of Rio Tinto Group

Hedge funds have recently modified their holdings of the company. Dorsey & Whitney Trust CO LLC increased its holdings in Rio Tinto Group by 2.0% during the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 8,113 shares of the mining company’s stock valued at $477,000 after purchasing an additional 160 shares in the last quarter. Capital Analysts LLC increased its stake in shares of Rio Tinto Group by 6.0% in the fourth quarter. Capital Analysts LLC now owns 2,886 shares of the mining company’s stock valued at $170,000 after buying an additional 163 shares in the last quarter. Nemes Rush Group LLC increased its stake in shares of Rio Tinto Group by 10.0% in the fourth quarter. Nemes Rush Group LLC now owns 1,855 shares of the mining company’s stock valued at $109,000 after buying an additional 169 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. lifted its position in Rio Tinto Group by 63.9% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 500 shares of the mining company’s stock worth $29,000 after buying an additional 195 shares in the last quarter. Finally, Cohen Investment Advisors LLC lifted its position in Rio Tinto Group by 3.8% during the 4th quarter. Cohen Investment Advisors LLC now owns 5,352 shares of the mining company’s stock worth $315,000 after buying an additional 198 shares in the last quarter. Institutional investors and hedge funds own 19.33% 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.