Rio Tinto Group (NYSE:RIO) Receives Average Recommendation of “Moderate Buy” from Analysts

Posted by Defense World Staff on Sep 26th, 2023

Shares of Rio Tinto Group (NYSE:RIO – Get Free Report) have been given an average rating of “Moderate Buy” by the twelve ratings firms that are presently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, three have issued a hold recommendation, seven have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $72.00.

Several research analysts recently issued reports on the stock. Citigroup upgraded shares of Rio Tinto Group from a “neutral” rating to a “buy” rating in a research report on Thursday, June 8th. JPMorgan Chase & Co. upgraded Rio Tinto Group from a “neutral” rating to an “overweight” rating in a research report on Wednesday, September 13th. Argus dropped their target price on Rio Tinto Group from $80.00 to $72.00 in a research report on Wednesday, June 28th. Deutsche Bank Aktiengesellschaft upgraded shares of Rio Tinto Group from a “hold” rating to a “buy” rating in a research report on Monday, June 5th. Finally, Liberum Capital upgraded shares of Rio Tinto Group from a “sell” rating to a “hold” rating in a report on Thursday, July 6th.

Read Our Latest Stock Report on RIO

Rio Tinto Group Price Performance

Shares of NYSE:RIO opened at $63.07 on Tuesday. The company’s fifty day moving average price is $63.52 and its 200-day moving average price is $64.36. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.99 and a quick ratio of 1.37. The firm has a market capitalization of $78.91 billion, a price-to-earnings ratio of 8.87 and a beta of 0.72. Rio Tinto Group has a one year low of $50.92 and a one year high of $80.51.

Rio Tinto Group Increases Dividend

The company also recently announced a semi-annual dividend, which was paid on Thursday, September 21st. Investors of record on Friday, August 11th were paid a $1.77 dividend. This represents a dividend yield of 6%. This is an increase from Rio Tinto Group’s previous semi-annual dividend of $1.10. The ex-dividend date was Thursday, August 10th. Rio Tinto Group’s payout ratio is presently 49.65%.

Institutional Investors Weigh In On Rio Tinto Group

A number of large investors have recently added to or reduced their stakes in the company. Atria Investments Inc boosted its holdings in shares of Rio Tinto Group by 14.4% during the first quarter. Atria Investments Inc now owns 22,952 shares of the mining company’s stock worth $1,574,000 after purchasing an additional 2,895 shares during the period. Ronald Blue Trust Inc. grew its position in shares of Rio Tinto Group by 38.3% in the 1st quarter. Ronald Blue Trust Inc. now owns 3,195 shares of the mining company’s stock worth $227,000 after buying an additional 884 shares during the last quarter. Financial Management Professionals Inc. increased its stake in shares of Rio Tinto Group by 259.0% during the first quarter. Financial Management Professionals Inc. now owns 578 shares of the mining company’s stock valued at $40,000 after buying an additional 417 shares during the period. WealthPLAN Partners LLC bought a new position in shares of Rio Tinto Group during the first quarter valued at approximately $51,000. Finally, Thrive Wealth Management LLC lifted its stake in Rio Tinto Group by 7.9% in the second quarter. Thrive Wealth Management LLC now owns 5,451 shares of the mining company’s stock worth $348,000 after acquiring an additional 401 shares during the period. Institutional investors own 10.03% of the company’s stock.

About Rio Tinto Group

(Get Free Report

Rio Tinto Group engages in exploring, mining, and processing mineral resources worldwide. The company operates through Iron Ore, Aluminium, Copper, and Minerals Segments. It offers aluminum, copper, iron ore, diamonds, gold, borates, titanium dioxide, salt, silver, molybdenum, and lithium. The company also owns and operates open pit and underground mines, refineries, smelters, and concentrator facilities, as well as power stations, research, and service facilities.