Rio Tinto Group (LON:RIO) to Issue Dividend of $1.77

Rio Tinto Group (LON:RIO) announced a dividend on Wednesday, July 31st, Upcoming.Co.Uk reports. Shareholders of record on Thursday, August 15th will be given a dividend of $1.77 per share on Thursday, September 26th. This represents a yield of 2.79%. The ex-dividend date is Thursday, August 15th. The official announcement can be seen at this link.

Rio Tinto Group Stock Performance

Rio Tinto Group stock opened at GBX 5,061 ($65.10) on Wednesday. The company has a market cap of £63.26 billion, a price-to-earnings ratio of 1,052.45, a price-to-earnings-growth ratio of -0.64 and a beta of 0.63. Rio Tinto Group has a 12 month low of GBX 4,509.50 ($58.01) and a 12 month high of GBX 5,910 ($76.02). The company has a debt-to-equity ratio of 25.47, a current ratio of 1.69 and a quick ratio of 1.34. The stock’s 50-day moving average is GBX 5,251.53 and its 200-day moving average is GBX 5,272.64.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. JPMorgan Chase & Co. reaffirmed an “overweight” rating and set a GBX 6,500 ($83.61) price target on shares of Rio Tinto Group in a research report on Wednesday, July 17th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a GBX 6,200 ($79.75) price target on shares of Rio Tinto Group in a research report on Tuesday, June 18th. Citigroup reissued a “neutral” rating on shares of Rio Tinto Group in a research report on Monday, June 17th. Barclays reissued an “overweight” rating and set a GBX 6,000 ($77.18) price target on shares of Rio Tinto Group in a research report on Tuesday, May 7th. Finally, Bank of America reaffirmed a “buy” rating and issued a GBX 7,700 ($99.05) price objective on shares of Rio Tinto Group in a research report on Wednesday, June 26th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of GBX 6,228.57 ($80.12).

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.