JPMorgan Chase & Co. Lowers Rio Tinto Group (LON:RIO) Price Target to GBX 6,610

Rio Tinto Group (LON:RIO) had its price target lowered by JPMorgan Chase & Co. from GBX 6,630 ($82.53) to GBX 6,610 ($82.29) in a research note released on Thursday, Marketbeat Ratings reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

A number of other equities research analysts have also weighed in on the stock. Bank of America reaffirmed a buy rating and set a GBX 7,700 ($95.85) price target on shares of Rio Tinto Group in a report on Wednesday. Deutsche Bank Aktiengesellschaft reissued a buy rating and set a GBX 6,000 ($74.69) price objective on shares of Rio Tinto Group in a report on Thursday. Berenberg Bank reissued a buy rating and set a GBX 5,900 ($73.45) price objective on shares of Rio Tinto Group in a report on Wednesday. Finally, Royal Bank of Canada decreased their price objective on shares of Rio Tinto Group from GBX 6,100 ($75.94) to GBX 5,900 ($73.45) and set a sector perform rating for the company in a report on Thursday, February 22nd. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and a consensus price target of GBX 6,351.25 ($79.06).

Rio Tinto Group Price Performance

Rio Tinto Group stock opened at GBX 5,341 ($66.49) on Thursday. Rio Tinto Group has a 52-week low of GBX 4,509.50 ($56.14) and a 52-week high of GBX 5,910 ($73.57). The firm has a fifty day moving average of GBX 5,114.89 and a 200-day moving average of GBX 5,312.17. The firm has a market capitalization of £66.76 billion, a P/E ratio of 1,093.89, a PEG ratio of -0.64 and a beta of 0.65. The company has a quick ratio of 1.34, a current ratio of 1.69 and a debt-to-equity ratio of 25.47.

Rio Tinto Group Increases Dividend

The company also recently disclosed a dividend, which was paid on Thursday, April 18th. Investors of record on Thursday, March 7th were given a GBX 203.77 ($2.54) dividend. The ex-dividend date was Thursday, March 7th. This is an increase from Rio Tinto Group’s previous dividend of $137.67. This represents a yield of 3.9%. Rio Tinto Group’s dividend payout ratio (DPR) is currently 6,945.01%.

Insiders Place Their Bets

In other Rio Tinto Group news, insider Peter Cunningham sold 3,939 shares of the business’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of GBX 5,216 ($64.93), for a total transaction of £205,458.24 ($255,767.76). 14.71% of the stock is owned by insiders.

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.