Oddo Securities upgraded shares of Rio Tinto (LON:RIO) to a neutral rating in a report released on Monday, February 25th. The firm currently has GBX 4,400 ($57.49) price target on the stock, up from their previous price target of GBX 3,800 ($49.65).
Several other research firms have also recently issued reports on RIO. Credit Suisse Group reissued an outperform rating on shares of Rio Tinto in a report on Thursday, November 15th. Goldman Sachs Group lowered their price target on shares of Rio Tinto from GBX 4,200 ($54.88) to GBX 4,100 ($53.57) and set a neutral rating on the stock in a research report on Friday, January 18th. JPMorgan Chase & Co. raised their target price on shares of Rio Tinto from GBX 5,000 ($65.33) to GBX 5,050 ($65.99) and gave the stock an overweight rating in a research report on Thursday, January 31st. HSBC set a GBX 4,755 ($62.13) target price on shares of Rio Tinto and gave the stock a buy rating in a research report on Friday, January 18th. Finally, Citigroup restated a buy rating and set a GBX 4,400 ($57.49) target price on shares of Rio Tinto in a research report on Monday, December 10th. Three research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and five have issued a buy rating to the company. The stock currently has an average rating of Hold and a consensus price target of GBX 4,245.15 ($55.47).
Shares of RIO traded down GBX 51.50 ($0.67) during mid-day trading on Monday, hitting GBX 4,231 ($55.29). 2,755,745 shares of the company’s stock were exchanged, compared to its average volume of 4,860,000. The company has a market capitalization of $53.51 billion and a price-to-earnings ratio of 5.37. Rio Tinto has a fifty-two week low of GBX 3,460.50 ($45.22) and a fifty-two week high of GBX 4,541 ($59.34). The company has a debt-to-equity ratio of 25.60, a quick ratio of 1.51 and a current ratio of 1.92.
The firm also recently disclosed a dividend, which will be paid on Thursday, April 18th. Stockholders of record on Thursday, March 7th will be issued a GBX 319.51 ($4.17) dividend. The ex-dividend date is Thursday, March 7th. This is an increase from Rio Tinto’s previous dividend of $96.82. This represents a dividend yield of 7.28%. Rio Tinto’s dividend payout ratio (DPR) is 0.30%.
In other Rio Tinto news, insider Jean-Sébastien Jacques sold 13,090 shares of Rio Tinto stock in a transaction on Monday, March 4th. The shares were sold at an average price of GBX 4,327 ($56.54), for a total transaction of £566,404.30 ($740,107.54).
Rio Tinto Company Profile
Rio Tinto plc, a mining and metals company, explores for, develops, produces, and processes minerals and metals worldwide. It finds, mines, and processes mineral resources, including aluminum, copper, diamonds, gold, iron ore, thermal and metallurgical coal, and uranium, as well as industrial minerals, such as borates, titanium dioxide, and salt.
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