Rio Tinto Group (NYSE:RIO) Sets New 1-Year Low - Should You Sell?

Rio Tinto Group (NYSE:RIO - Get Free Report)'s share price reached a new 52-week low during mid-day trading on Wednesday . The company traded as low as $51.67 and last traded at $52.24, with a volume of 5300513 shares. The stock had previously closed at $54.56.

Analysts Set New Price Targets

A number of brokerages recently weighed in on RIO. Clarkson Capital raised shares of Rio Tinto Group to a "strong-buy" rating in a research report on Friday, February 28th. Jefferies Financial Group lowered their target price on Rio Tinto Group from $83.00 to $73.00 and set a "buy" rating for the company in a report on Monday, January 6th. DZ Bank upgraded Rio Tinto Group from a "hold" rating to a "strong-buy" rating in a research report on Thursday, March 27th. JPMorgan Chase & Co. assumed coverage on Rio Tinto Group in a research report on Tuesday, March 18th. They issued an "overweight" rating on the stock. Finally, Morgan Stanley downgraded shares of Rio Tinto Group from an "overweight" rating to an "equal weight" rating in a report on Wednesday, April 9th. Four investment analysts have rated the stock with a hold rating, five have issued a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $73.00.

Rio Tinto Group Stock Up 1.2 %

The stock's 50-day moving average is $60.99 and its 200-day moving average is $62.25. The stock has a market cap of $72.18 billion, a P/E ratio of 8.92, a price-to-earnings-growth ratio of 0.42 and a beta of 0.66. The company has a current ratio of 1.63, a quick ratio of 1.16 and a debt-to-equity ratio of 0.23.

Rio Tinto Group Increases Dividend

The company also recently disclosed a semi-annual dividend, which will be paid on Thursday, April 17th. Stockholders of record on Friday, March 7th will be issued a $2.23 dividend. This is a positive change from Rio Tinto Group's previous semi-annual dividend of $1.77. The ex-dividend date is Friday, March 7th. This represents a dividend yield of 7%. Rio Tinto Group's dividend payout ratio is 69.15%.

Institutional Trading of Rio Tinto Group

A number of hedge funds and other institutional investors have recently made changes to their positions in RIO. Barclays PLC grew its position in Rio Tinto Group by 225.6% during the 3rd quarter. Barclays PLC now owns 335,637 shares of the mining company's stock worth $23,888,000 after purchasing an additional 232,539 shares in the last quarter. Coldstream Capital Management Inc. increased its stake in shares of Rio Tinto Group by 14.5% in the third quarter. Coldstream Capital Management Inc. now owns 4,656 shares of the mining company's stock worth $331,000 after acquiring an additional 591 shares during the last quarter. TD Private Client Wealth LLC raised its holdings in shares of Rio Tinto Group by 17.0% during the third quarter. TD Private Client Wealth LLC now owns 4,275 shares of the mining company's stock worth $304,000 after acquiring an additional 621 shares in the last quarter. McIlrath & Eck LLC raised its holdings in shares of Rio Tinto Group by 20.6% during the third quarter. McIlrath & Eck LLC now owns 1,382 shares of the mining company's stock worth $98,000 after acquiring an additional 236 shares in the last quarter. Finally, Advisory Resource Group boosted its position in Rio Tinto Group by 11.1% during the third quarter. Advisory Resource Group now owns 16,812 shares of the mining company's stock valued at $1,197,000 after purchasing an additional 1,678 shares during the last quarter. 19.33% of the stock is currently owned by institutional investors.

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.