Rio Tinto Group (LON:RIO – Get Free Report) shares passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of GBX 5,325.09 ($65.77) and traded as high as GBX 5,517 ($68.14). Rio Tinto Group shares last traded at GBX 5,379 ($66.44), with a volume of 2,270,401 shares changing hands.
Wall Street Analyst Weigh In
A number of research firms have issued reports on RIO. JPMorgan Chase & Co. lowered their target price on Rio Tinto Group from GBX 6,630 ($81.89) to GBX 6,610 ($81.65) and set an “overweight” rating on the stock in a report on Thursday, April 18th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a GBX 6,000 ($74.11) target price on shares of Rio Tinto Group in a report on Thursday, April 18th. Berenberg Bank reaffirmed a “buy” rating and issued a GBX 5,900 ($72.88) target price on shares of Rio Tinto Group in a report on Wednesday, April 17th. Bank of America reaffirmed a “buy” rating and issued a GBX 7,700 ($95.11) target price on shares of Rio Tinto Group in a report on Wednesday, April 17th. Finally, Royal Bank of Canada lowered their target price on Rio Tinto Group from GBX 6,100 ($75.35) to GBX 5,900 ($72.88) and set a “sector perform” rating on the stock in a report on Thursday, February 22nd. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of GBX 6,351.25 ($78.45).
Check Out Our Latest Research Report on RIO
Rio Tinto Group Price Performance
Rio Tinto Group Increases Dividend
The business also recently announced a dividend, which was paid on Thursday, April 18th. Investors of record on Thursday, March 7th were given a dividend of GBX 203.77 ($2.52) per share. This represents a dividend yield of 3.9%. The ex-dividend date of this dividend 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 6,945.01%.
Insider Buying and Selling
In related news, insider Peter Cunningham sold 3,939 shares of the firm’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of GBX 5,216 ($64.43), for a total transaction of £205,458.24 ($253,777.47). 14.71% of the stock is owned by corporate insiders.
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.
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