Berenberg Bank Reaffirms Buy Rating for Rio Tinto Group (LON:RIO)

Berenberg Bank reaffirmed their buy rating on shares of Rio Tinto Group (LON:RIO - Free Report) in a research note released on Wednesday morning, MarketBeat Ratings reports. Berenberg Bank currently has a GBX 5,900 ($73.45) price target on the stock.

RIO has been the topic of several other reports. Deutsche Bank Aktiengesellschaft reiterated a buy rating and set a GBX 6,000 ($74.69) target price on shares of Rio Tinto Group in a research report on Thursday. Bank of America reiterated a buy rating and set a GBX 7,700 ($95.85) target price on shares of Rio Tinto Group in a research report on Wednesday. JPMorgan Chase & Co. reiterated an overweight rating on shares of Rio Tinto Group in a research report on Tuesday, April 9th. Finally, Royal Bank of Canada decreased their target price on shares of Rio Tinto Group from GBX 6,100 ($75.94) to GBX 5,900 ($73.45) and set a sector perform rating on the stock in a research report on Thursday, February 22nd. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of Moderate Buy and an average price target of GBX 6,351.25 ($79.06).

Rio Tinto Group Price Performance

Shares of Rio Tinto Group stock traded down GBX 17 ($0.21) during trading on Wednesday, hitting GBX 5,371 ($66.86). 1,977,278 shares of the company's stock traded hands, compared to its average volume of 3,003,040. The company has a debt-to-equity ratio of 25.47, a current ratio of 1.69 and a quick ratio of 1.34. The firm's fifty day moving average price is GBX 5,114.71 and its 200 day moving average price is GBX 5,311.76. Rio Tinto Group has a twelve month low of GBX 4,509.50 ($56.14) and a twelve month high of GBX 5,910 ($73.57). The company has a market cap of £67.14 billion, a PE ratio of 1,098.17, a PEG ratio of -0.64 and a beta of 0.65.

Rio Tinto Group Increases Dividend

The company also recently declared a dividend, which will be paid on Thursday, April 18th. Investors of record on Thursday, March 7th will be issued a dividend of GBX 203.77 ($2.54) per share. This is an increase from Rio Tinto Group's previous dividend of $137.67. This represents a yield of 3.9%. The ex-dividend date of this dividend is Thursday, March 7th. Rio Tinto Group's dividend payout ratio (DPR) is currently 6,945.01%.

Insider Activity at Rio Tinto Group

In related news, insider Peter Cunningham sold 3,939 shares of Rio Tinto Group stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of GBX 5,216 ($64.93), for a total transaction of £205,458.24 ($255,767.76). 14.71% of the stock is currently owned by 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.