Rio Tinto Group (NYSE:RIO) Cut to "Buy" at StockNews.com

StockNews.com lowered shares of Rio Tinto Group (NYSE:RIO - Free Report) from a strong-buy rating to a buy rating in a research note released on Saturday.

RIO has been the topic of several other reports. Morgan Stanley lowered shares of Rio Tinto Group from an "overweight" rating to an "equal weight" rating in a report on Wednesday, April 9th. JPMorgan Chase & Co. started coverage on shares of Rio Tinto Group in a report on Tuesday, March 18th. They issued an "overweight" rating for the company. Clarkson Capital upgraded Rio Tinto Group to a "strong-buy" rating in a research report on Friday, February 28th. Jefferies Financial Group dropped their price objective on Rio Tinto Group from $83.00 to $73.00 and set a "buy" rating for the company in a research note on Monday, January 6th. Finally, DZ Bank raised Rio Tinto Group from a "hold" rating to a "strong-buy" rating in a research note on Thursday, March 27th. Four analysts have rated the stock with a hold rating, six have issued a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat, Rio Tinto Group has a consensus rating of "Moderate Buy" and an average price target of $73.00.

Rio Tinto Group Price Performance

Shares of Rio Tinto Group stock traded up $0.86 during trading hours on Friday, reaching $58.02. 552,915 shares of the company's stock were exchanged, compared to its average volume of 2,867,521. The company has a market capitalization of $72.76 billion, a P/E ratio of 9.00, a price-to-earnings-growth ratio of 0.42 and a beta of 0.66. Rio Tinto Group has a 1 year low of $51.67 and a 1 year high of $74.24. The company has a quick ratio of 1.16, a current ratio of 1.63 and a debt-to-equity ratio of 0.23. The business has a fifty day moving average of $60.70 and a two-hundred day moving average of $62.09.

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Rio Tinto Group Increases Dividend

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

Institutional Trading of Rio Tinto Group

Institutional investors have recently bought and sold shares of the business. Wealth Enhancement Advisory Services LLC lifted its stake in Rio Tinto Group by 3.7% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 98,686 shares of the mining company's stock worth $5,929,000 after purchasing an additional 3,481 shares during the last quarter. Elevation Point Wealth Partners LLC lifted its position in shares of Rio Tinto Group by 4.6% during the 1st quarter. Elevation Point Wealth Partners LLC now owns 10,658 shares of the mining company's stock worth $640,000 after buying an additional 467 shares during the last quarter. Marshall Financial Group LLC boosted its holdings in shares of Rio Tinto Group by 14.4% in the 1st quarter. Marshall Financial Group LLC now owns 15,761 shares of the mining company's stock valued at $947,000 after buying an additional 1,987 shares in the last quarter. Quintet Private Bank Europe S.A. grew its position in shares of Rio Tinto Group by 10.0% in the 1st quarter. Quintet Private Bank Europe S.A. now owns 2,200 shares of the mining company's stock valued at $132,000 after buying an additional 200 shares during the last quarter. Finally, Rockland Trust Co. acquired a new stake in Rio Tinto Group during the 1st quarter worth $204,000. 19.33% of the stock is owned by hedge funds and other institutional investors.

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.