Rio Tinto (LON:RIO) had its price objective lifted by Credit Suisse Group from GBX 3,870 ($50.57) to GBX 4,340 ($56.71) in a report issued on Tuesday morning, Borsen Zeitung reports. The firm currently has a neutral rating on the stock.
A number of other brokerages have also recently commented on RIO. JPMorgan Chase & Co. set a GBX 5,300 ($69.25) price target on Rio Tinto and gave the stock a buy rating in a research report on Wednesday, April 10th. BNP Paribas cut Rio Tinto to an underperform rating and upped their price target for the stock from GBX 4,300 ($56.19) to GBX 4,500 ($58.80) in a research report on Thursday, April 11th. Barclays upped their price target on Rio Tinto from GBX 4,100 ($53.57) to GBX 4,150 ($54.23) and gave the stock an equal weight rating in a research report on Friday, April 12th. Citigroup restated a buy rating on shares of Rio Tinto in a research report on Tuesday, April 16th. Finally, Deutsche Bank upped their price target on Rio Tinto from GBX 4,250 ($55.53) to GBX 4,700 ($61.41) and gave the stock a hold rating in a research report on Wednesday, April 10th. Three investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and six have assigned a buy rating to the stock. The stock has an average rating of Hold and an average price target of GBX 4,418.55 ($57.74).
Shares of RIO opened at GBX 4,673 ($61.06) on Tuesday. The company has a debt-to-equity ratio of 25.60, a current ratio of 1.92 and a quick ratio of 1.51. The stock has a market capitalization of $58.92 billion and a price-to-earnings ratio of 5.93. Rio Tinto has a 52 week low of GBX 3,460.50 ($45.22) and a 52 week high of GBX 4,790.50 ($62.60).
The firm also recently disclosed a dividend, which was paid on Thursday, April 18th. Stockholders of record on Thursday, March 7th were paid a GBX 319.51 ($4.17) dividend. This is a positive change from Rio Tinto’s previous dividend of $96.82. The ex-dividend date of this dividend was Thursday, March 7th. This represents a dividend yield of 7.28%. Rio Tinto’s dividend payout ratio is 0.30%.
In other news, insider Jean-Sébastien Jacques sold 8 shares of the company’s stock in a transaction dated Wednesday, April 24th. The stock was sold at an average price of GBX 4,596 ($60.05), for a total value of £367.68 ($480.44).
Rio Tinto Company Profile
Rio Tinto Group engages in finding, mining, and processing mineral resources worldwide. The company offers aluminium, silver, molybdenum, copper, diamonds, gold, borates, titanium dioxide, salt, iron ore, and uranium. It is also involved in the alumina production; primary aluminium smelting; bauxite mining; alumina refining; and ilmenite mining, as well as provision of gypsum.
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