Shares of Rio Tinto Group (LON:RIO – Get Free Report) reached a new 52-week low during mid-day trading on Monday . The stock traded as low as GBX 4,522.57 ($58.77) and last traded at GBX 4,824.50 ($62.69), with a volume of 1516440 shares trading hands. The stock had previously closed at GBX 4,742 ($61.62).
Wall Street Analyst Weigh In
A number of analysts have issued reports on the stock. Royal Bank of Canada reiterated a “sector perform” rating and set a GBX 5,700 ($74.06) price target on shares of Rio Tinto Group in a research note on Thursday, August 1st. JPMorgan Chase & Co. cut their target price on shares of Rio Tinto Group from GBX 6,500 ($84.46) to GBX 6,430 ($83.55) and set an “overweight” rating on the stock in a research note on Thursday, August 1st. Barclays reaffirmed an “overweight” rating and set a GBX 6,000 ($77.96) price objective on shares of Rio Tinto Group in a research report on Tuesday, May 7th. Berenberg Bank lowered Rio Tinto Group from a “buy” rating to a “hold” rating and decreased their target price for the company from GBX 5,900 ($76.66) to GBX 5,800 ($75.36) in a report on Wednesday, June 26th. Finally, Citigroup reissued a “neutral” rating on shares of Rio Tinto Group in a research note on Monday, June 17th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of GBX 6,305 ($81.93).
Get Our Latest Stock Analysis on RIO
Rio Tinto Group Stock Up 1.2 %
Rio Tinto Group Cuts Dividend
The business also recently declared a dividend, which will be paid on Thursday, September 26th. Investors of record on Thursday, August 15th will be paid a dividend of $1.77 per share. The ex-dividend date is Thursday, August 15th. This represents a yield of 2.79%. Rio Tinto Group’s dividend payout ratio is currently 6,660.16%.
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.
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