Rio Tinto Group (NYSE:RIO) Receives Average Rating of 'Moderate Buy' from Analysts

Shares of Rio Tinto Group (NYSE:RIO - Get Free Report) have been assigned an average rating of "Moderate Buy" from the eight research firms that are covering the stock, according to MarketBeat Ratings. Of these analysts, four have given the stock a hold recommendation, three have issued a buy recommendation, and one has even provided a strong buy recommendation. The average target price for Rio Tinto Group among these analysts is set at $73.00 for the next year.

Analyst Reactions

Several research firms have recently provided updates on Rio Tinto Group's stock. For instance, Jefferies Financial Group reduced their price target on shares from $83.00 to $73.00 while maintaining a "buy" rating. Additionally, StockNews.com downgraded the rating from "strong buy" to "buy" recently.

Share Performance

On Tuesday, shares of NYSE:RIO opened at $61.04. The stock has shown variability, with a 12-month low of $57.85 and a high of $74.24. The firm has a market capitalization of $76.49 billion and a P/E ratio of 9.46. Furthermore, its 50-day moving average price stands at $60.81, while the two-hundred day moving average is $62.87. The current ratios are also noteworthy with a quick ratio of 1.16 and a current ratio of 1.63, and the debt-to-equity ratio is 0.23.

Dividend Announcement

Recently, Rio Tinto Group announced an increase in its semi-annual dividend, scheduled for payment on Thursday, April 17th. Shareholders who are on record as of Friday, March 7th, will receive a dividend of $2.23. This represents a yield of 7%, a boost from the previous dividend of $1.77. The company’s dividend payout ratio (DPR) is reported to be 69.15%.

Institutional Investment Activity

There has been notable activity among institutional investors regarding Rio Tinto Group. Nisa Investment Advisors LLC increased its investment by 49.1% in the third quarter, amassing 820 shares valued at $58,000. Similarly, Van ECK Associates Corp raised its stake by 10.7% and now holds a significant 693,102 shares. Other investors like Quintet Private Bank Europe S.A. and Concurrent Investment Advisors LLC also boosted their holdings in the same period. In total, institutional investors account for 19.33% of the company's stock.

Company Overview

Rio Tinto Group is engaged in the exploration, mining, and processing of mineral resources globally. The firm operates through various segments, including Iron Ore, Aluminum, Copper, and Minerals. The Iron Ore segment focuses on mining iron ore and producing salt and gypsum in Western Australia, while the Aluminum segment is involved in bauxite mining and alumina refining.

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