Rio Tinto Group (NYSE:RIO) Research Coverage Started at JPMorgan Chase & Co.

JPMorgan Chase & Co. started coverage on shares of Rio Tinto Group (NYSE:RIO) in a research report report published on Tuesday. The brokerage issued an overweight rating on the mining company’s stock.

RIO has been the topic of several other research reports. Clarkson Capital raised Rio Tinto Group to a “strong-buy” rating in a research note on Friday, February 28th. Jefferies Financial Group decreased their target price on shares of Rio Tinto Group from $83.00 to $73.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Finally, StockNews.com downgraded shares of Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a report on Saturday, February 22nd. Three equities research analysts have rated the stock with a hold rating, five have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $73.00.

Rio Tinto Group Trading Down 1.5 %

NYSE:RIO opened at $62.89 on Tuesday. Rio Tinto Group has a one year low of $57.85 and a one year high of $74.24. The business has a fifty day moving average price of $61.84 and a 200-day moving average price of $62.85. The firm has a market capitalization of $78.80 billion, a price-to-earnings ratio of 9.75, a price-to-earnings-growth ratio of 0.42 and a beta of 0.60. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.63 and a quick ratio of 1.16.

Rio Tinto Group Increases Dividend

The firm also recently declared a semi-annual dividend, which will be paid on Thursday, April 17th. Shareholders of record on Friday, March 7th will be paid a $2.23 dividend. This represents a yield of 7%. This is an increase from Rio Tinto Group’s previous semi-annual dividend of $1.77. The ex-dividend date is Friday, March 7th. Rio Tinto Group’s dividend payout ratio is presently 69.15%.

Institutional Investors Weigh In On Rio Tinto Group

Institutional investors and hedge funds have recently modified their holdings of the stock. Rakuten Securities Inc. increased its holdings in Rio Tinto Group by 74.8% in the 4th quarter. Rakuten Securities Inc. now owns 493 shares of the mining company’s stock valued at $29,000 after acquiring an additional 211 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. grew its position in shares of Rio Tinto Group by 63.9% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 500 shares of the mining company’s stock valued at $29,000 after purchasing an additional 195 shares in the last quarter. Mechanics Financial Corp bought a new stake in shares of Rio Tinto Group in the fourth quarter worth about $29,000. Ameriflex Group Inc. purchased a new stake in shares of Rio Tinto Group in the fourth quarter worth about $47,000. Finally, Golden State Wealth Management LLC bought a new position in Rio Tinto Group during the fourth quarter valued at approximately $47,000. Institutional investors own 19.33% of the company’s stock.

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.