Deutsche Bank Aktiengesellschaft Lowers Rio Tinto Group (LON:RIO) Price Target to GBX 6,000

Rio Tinto Group (LON:RIO) had its price target trimmed by Deutsche Bank Aktiengesellschaft from GBX 6,200 ($81.08) to GBX 6,000 ($78.46) in a report published on Monday, MarketBeat.com reports. The firm currently has a buy rating on the stock.

RIO has been the topic of a number of other reports. Citigroup restated a neutral rating on shares of Rio Tinto Group in a research note on Monday, June 17th. JPMorgan Chase & Co. decreased their price target on Rio Tinto Group from GBX 6,500 ($85.00) to GBX 6,430 ($84.09) and set an overweight rating on the stock in a report on Thursday, August 1st. Berenberg Bank cut Rio Tinto Group from a buy rating to a hold rating and decreased their price target for the company from GBX 5,900 ($77.15) to GBX 5,800 ($75.85) in a report on Wednesday, June 26th. Bank of America reissued a buy rating and set a GBX 7,700 ($100.69) price target on shares of Rio Tinto Group in a report on Wednesday, June 26th. Finally, Royal Bank of Canada reissued a sector perform rating and set a GBX 5,700 ($74.54) price target on shares of Rio Tinto Group in a report on Thursday, August 1st. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of Moderate Buy and a consensus target price of GBX 6,271.67 ($82.01).

Rio Tinto Group Stock Performance

Rio Tinto Group stock opened at GBX 4,720.50 ($61.73) on Monday. The company has a quick ratio of 1.34, a current ratio of 1.70 and a debt-to-equity ratio of 25.01. The company has a market capitalization of £59.01 billion, a P/E ratio of 945.99, a PEG ratio of -0.64 and a beta of 0.59. The stock’s 50 day moving average is GBX 4,902.25 and its 200 day moving average is GBX 5,143.34. Rio Tinto Group has a twelve month low of GBX 4,509 ($58.96) and a twelve month high of GBX 5,910 ($77.29).

Rio Tinto Group Cuts Dividend

The company also recently disclosed a dividend, which will be paid on Thursday, September 26th. Stockholders of record on Thursday, August 15th will be given a dividend of $1.77 per share. The ex-dividend date is Thursday, August 15th. This represents a dividend yield of 2.79%. Rio Tinto Group’s payout ratio is 6,833.67%.

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.