Rio Tinto Group (LON:RIO) Sets New 1-Year Low at $4,522.57

Rio Tinto Group (LON:RIO)’s stock price reached a new 52-week low during trading on Monday . The company traded as low as GBX 4,522.57 ($58.77) and last traded at GBX 4,824.50 ($62.69), with a volume of 1516440 shares traded. The stock had previously closed at GBX 4,742 ($61.62).

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Citigroup reaffirmed a “neutral” rating on shares of Rio Tinto Group in a research note on Monday, June 17th. JPMorgan Chase & Co. decreased their price target on shares of Rio Tinto Group from GBX 6,500 ($84.46) to GBX 6,430 ($83.55) and set an “overweight” rating on the stock in a research note on Thursday, August 1st. Bank of America reiterated a “buy” rating and set a GBX 7,700 ($100.05) price objective on shares of Rio Tinto Group in a research report on Wednesday, June 26th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a GBX 6,200 ($80.56) target price on shares of Rio Tinto Group in a report on Tuesday, June 18th. Finally, Berenberg Bank cut shares of Rio Tinto Group from a “buy” rating to a “hold” rating and decreased their target price for the company from GBX 5,900 ($76.66) to GBX 5,800 ($75.36) in a research report on Wednesday, June 26th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of GBX 6,305 ($81.93).

Rio Tinto Group Price Performance

The stock’s 50-day simple moving average is GBX 5,068.14 and its two-hundred day simple moving average is GBX 5,210.90. The firm has a market cap of £60.44 billion, a P/E ratio of 944.43, a PEG ratio of -0.64 and a beta of 0.63. The company has a debt-to-equity ratio of 25.01, a current ratio of 1.70 and a quick ratio of 1.34.

Rio Tinto Group Cuts Dividend

The company also recently disclosed a dividend, which will be paid on Thursday, September 26th. Investors of record on Thursday, August 15th will be given a $1.77 dividend. This represents a yield of 2.79%. The ex-dividend date of this dividend is Thursday, August 15th. Rio Tinto Group’s dividend payout ratio (DPR) is currently 6,660.16%.

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.