Rio Tinto Group (NYSE:RIO) Stock Rating Upgraded by DZ Bank

DZ Bank upgraded shares of Rio Tinto Group (NYSE:RIO) from a hold rating to a strong-buy rating in a report issued on Thursday,Zacks.com reports.

RIO has been the topic of several other reports. Clarkson Capital upgraded shares of Rio Tinto Group to a “strong-buy” rating in a report on Friday, February 28th. StockNews.com downgraded Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a research note on Saturday, February 22nd. JPMorgan Chase & Co. started coverage on Rio Tinto Group in a research note on Tuesday, March 18th. They set an “overweight” rating for the company. Finally, Jefferies Financial Group cut their target price on Rio Tinto Group from $83.00 to $73.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Three research analysts have rated the stock with a hold rating, five have assigned a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $73.00.

Rio Tinto Group Price Performance

Shares of RIO stock opened at $60.99 on Thursday. The company has a quick ratio of 1.16, a current ratio of 1.63 and a debt-to-equity ratio of 0.23. Rio Tinto Group has a 12 month low of $57.85 and a 12 month high of $74.24. The firm has a market cap of $76.48 billion, a price-to-earnings ratio of 9.46, a PEG ratio of 0.42 and a beta of 0.60. The stock has a 50-day moving average price of $62.11 and a 200 day moving average price of $62.92.

Rio Tinto Group Increases Dividend

The firm also recently announced a semi-annual dividend, which will be paid on Thursday, April 17th. Shareholders of record on Friday, March 7th will be issued a dividend of $2.23 per share. The ex-dividend date of this dividend is Friday, March 7th. This is a positive change from Rio Tinto Group’s previous semi-annual dividend of $1.77. This represents a yield of 7%. Rio Tinto Group’s payout ratio is currently 69.15%.

Institutional Investors Weigh In On Rio Tinto Group

Large investors have recently modified their holdings of the business. Dorsey & Whitney Trust CO LLC grew its position in shares of Rio Tinto Group by 2.0% in the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 8,113 shares of the mining company’s stock valued at $477,000 after purchasing an additional 160 shares during the period. Capital Analysts LLC lifted its stake in Rio Tinto Group by 6.0% in the fourth quarter. Capital Analysts LLC now owns 2,886 shares of the mining company’s stock valued at $170,000 after buying an additional 163 shares in the last quarter. Nemes Rush Group LLC boosted its holdings in shares of Rio Tinto Group by 10.0% in the fourth quarter. Nemes Rush Group LLC now owns 1,855 shares of the mining company’s stock valued at $109,000 after buying an additional 169 shares during the period. Thurston Springer Miller Herd & Titak Inc. increased its position in shares of Rio Tinto Group by 63.9% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 500 shares of the mining company’s stock worth $29,000 after acquiring an additional 195 shares in the last quarter. Finally, Cohen Investment Advisors LLC increased its position in shares of Rio Tinto Group by 3.8% during the fourth quarter. Cohen Investment Advisors LLC now owns 5,352 shares of the mining company’s stock worth $315,000 after acquiring an additional 198 shares in the last quarter. 19.33% of the stock is currently owned by institutional investors.

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.