Rio Tinto Group (NYSE:RIO) Raised to Strong-Buy at DZ Bank

DZ Bank upgraded shares of Rio Tinto Group (NYSE:RIO - Free Report) from a hold rating to a strong-buy rating in a research note published on Thursday morning,Zacks.com reports.

Several other research firms have also issued reports on RIO. Clarkson Capital upgraded shares of Rio Tinto Group to a "strong-buy" rating in a report on Friday, February 28th. Jefferies Financial Group lowered 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. JPMorgan Chase & Co. started coverage on Rio Tinto Group in a research note on Tuesday, March 18th. They issued an "overweight" rating on the stock. Finally, StockNews.com lowered Rio Tinto Group from a "strong-buy" rating to a "buy" rating in a research report on Saturday, February 22nd. Three equities research analysts have rated the stock with a hold rating, five have given a buy rating and three have issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Buy" and an average price target of $73.00.

Rio Tinto Group Stock Down 1.0 %

Shares of Rio Tinto Group stock traded down $0.60 during trading on Thursday, hitting $59.63. The company's stock had a trading volume of 1,519,470 shares, compared to its average volume of 3,152,830. Rio Tinto Group has a 52 week low of $57.85 and a 52 week high of $74.24. The company has a market capitalization of $74.77 billion, a PE ratio of 9.24, a P/E/G ratio of 0.42 and a beta of 0.60. The company has a fifty day simple moving average of $62.06 and a two-hundred day simple moving average of $62.93. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.16 and a current ratio of 1.63.

Remove Ads

Rio Tinto Group Increases Dividend

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

Institutional Investors Weigh In On Rio Tinto Group

Institutional investors and hedge funds have recently bought and sold shares of the business. Thurston Springer Miller Herd & Titak Inc. lifted its holdings in Rio Tinto Group by 63.9% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 500 shares of the mining company's stock worth $29,000 after purchasing an additional 195 shares in the last quarter. Rakuten Securities Inc. raised its position in shares of Rio Tinto Group by 74.8% during the fourth quarter. Rakuten Securities Inc. now owns 493 shares of the mining company's stock valued at $29,000 after buying an additional 211 shares during the last quarter. Mechanics Financial Corp purchased a new position in shares of Rio Tinto Group in the fourth quarter worth $29,000. Golden State Wealth Management LLC bought a new position in shares of Rio Tinto Group during the fourth quarter worth $47,000. Finally, Ameriflex Group Inc. purchased a new position in Rio Tinto Group during the fourth quarter valued at $47,000. 19.33% of the stock is owned by institutional investors.

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.