Deutsche Bank Aktiengesellschaft Lowers Rio Tinto Group (LON:RIO) Price Target to GBX 6,000

Rio Tinto Group (LON:RIO) had its price target reduced by Deutsche Bank Aktiengesellschaft from GBX 6,200 ($81.08) to GBX 6,000 ($78.46) in a report issued on Monday, Marketbeat Ratings reports. Deutsche Bank Aktiengesellschaft currently has a buy rating on the stock.

Several other research analysts have also commented on RIO. Citigroup reiterated a neutral rating on shares of Rio Tinto Group in a research report on Monday, June 17th. Berenberg Bank lowered Rio Tinto Group from a buy rating to a hold rating and dropped their target price for the company from GBX 5,900 ($77.15) to GBX 5,800 ($75.85) in a research report on Wednesday, June 26th. Bank of America restated a buy rating and set a GBX 7,700 ($100.69) target price on shares of Rio Tinto Group in a research report on Wednesday, June 26th. JPMorgan Chase & Co. dropped their target price on Rio Tinto Group from GBX 6,500 ($85.00) to GBX 6,430 ($84.09) and set an overweight rating for the company in a research report on Thursday, August 1st. Finally, Royal Bank of Canada restated a sector perform rating and set a GBX 5,700 ($74.54) target price on shares of Rio Tinto Group in a research report on Thursday, August 1st. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average target price of GBX 6,271.67 ($82.01).

Rio Tinto Group Trading Up 1.9 %

RIO opened at GBX 4,720.50 ($61.73) on Monday. The firm has a market cap of £59.01 billion, a P/E ratio of 945.99, a P/E/G ratio of -0.64 and a beta of 0.59. Rio Tinto Group has a 12 month low of GBX 4,509 ($58.96) and a 12 month high of GBX 5,910 ($77.29). The company has a current ratio of 1.70, a quick ratio of 1.34 and a debt-to-equity ratio of 25.01. The stock has a 50-day moving average of GBX 4,902.25 and a 200 day moving average of GBX 5,143.34.

Rio Tinto Group Cuts Dividend

The business also recently declared a dividend, which will be paid on Thursday, September 26th. Stockholders of record on Thursday, August 15th will be paid a dividend of $1.77 per share. This represents a dividend yield of 2.79%. The ex-dividend date of this dividend is Thursday, August 15th. Rio Tinto Group’s dividend payout ratio is presently 6,833.67%.

About Rio Tinto Group

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.