Credit Suisse Group Reaffirms “Neutral” Rating for Rio Tinto (RIO)

Credit Suisse Group reissued their neutral rating on shares of Rio Tinto (LON:RIO) in a research report report published on Monday, ThisIsMoney.Co.Uk reports.

Other analysts also recently issued research reports about the company. UBS Group restated a buy rating and set a GBX 4,500 ($58.80) target price (down previously from GBX 4,600 ($60.11)) on shares of Rio Tinto in a research note on Monday, January 21st. HSBC set a GBX 4,755 ($62.13) target price on Rio Tinto and gave the company a buy rating in a research note on Friday, January 18th. JPMorgan Chase & Co. set a GBX 5,100 ($66.64) target price on Rio Tinto and gave the company a buy rating in a research note on Friday, January 18th. Goldman Sachs Group upgraded Rio Tinto to a buy rating and raised their price objective for the stock from GBX 4,100 ($53.57) to GBX 5,000 ($65.33) in a research report on Tuesday, February 12th. Finally, Canaccord Genuity reiterated a buy rating and issued a GBX 4,450 ($58.15) price objective on shares of Rio Tinto in a research report on Wednesday, February 27th. Four analysts have rated the stock with a sell rating, twelve have issued a hold rating and five have given a buy rating to the stock. The stock presently has a consensus rating of Hold and a consensus target price of GBX 4,388.05 ($57.34).

Rio Tinto has a 52 week low of GBX 3,460.50 ($45.22) and a 52 week high of GBX 4,790.50 ($62.60). The firm has a market capitalization of $55.65 billion and a P/E ratio of 5.61. The company has a debt-to-equity ratio of 25.60, a quick ratio of 1.51 and a current ratio of 1.92.

The company also recently disclosed a dividend, which was paid on Thursday, April 18th. Shareholders of record on Thursday, March 7th were given a GBX 319.51 ($4.17) dividend. The ex-dividend date was Thursday, March 7th. This represents a dividend yield of 7.28%. This is an increase from Rio Tinto’s previous dividend of $96.82. Rio Tinto’s dividend payout ratio (DPR) is currently 0.30%.

In other Rio Tinto news, insider Jean-Sébastien Jacques sold 8 shares of the firm’s stock in a transaction that occurred on Wednesday, April 24th. The stock was sold at an average price of GBX 4,596 ($60.05), for a total value of £367.68 ($480.44).

Rio Tinto Company Profile

Rio Tinto Group engages in finding, mining, and processing mineral resources worldwide. The company offers aluminium, silver, molybdenum, copper, diamonds, gold, borates, titanium dioxide, salt, iron ore, and uranium. It is also involved in the alumina production; primary aluminium smelting; bauxite mining; alumina refining; and ilmenite mining, as well as provision of gypsum.

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Analyst Recommendations for Rio Tinto (LON:RIO)

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