Rio Tinto Group (LON:RIO) Given Consensus Rating of “Moderate Buy” by Brokerages

Rio Tinto Group (LON:RIO) has been assigned a consensus recommendation of “Moderate Buy” from the seven analysts that are presently covering the stock, Marketbeat reports. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average twelve-month price target among brokers that have covered the stock in the last year is GBX 6,271.67 ($83.89).

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

Rio Tinto Group Stock Performance

LON:RIO opened at GBX 5,385 ($72.03) on Friday. The firm’s 50-day moving average is GBX 4,863.97 and its 200-day moving average is GBX 5,141.26. The company 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 company has a debt-to-equity ratio of 25.01, a quick ratio of 1.34 and a current ratio of 1.70. Rio Tinto Group has a 52-week low of GBX 4,509 ($60.31) and a 52-week high of GBX 5,910 ($79.05).

Rio Tinto Group Cuts Dividend

The company also recently announced a dividend, which was paid on Thursday, September 26th. Stockholders of record on Thursday, August 15th were issued a $1.77 dividend. This represents a dividend yield of 2.79%. The ex-dividend date of this dividend was Thursday, August 15th. Rio Tinto Group’s payout ratio is 6,869.92%.

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.