Rio Tinto Group (NYSE:RIO) Now Covered by JPMorgan Chase & Co.

JPMorgan Chase & Co. initiated coverage on shares of Rio Tinto Group (NYSE:RIO) in a report released on Tuesday morning. The brokerage issued an overweight rating on the mining company’s stock.

Several other equities research analysts have also issued reports on RIO. Clarkson Capital raised Rio Tinto Group to a “strong-buy” rating in a research note on Friday, February 28th. StockNews.com downgraded Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a research report on Saturday, February 22nd. Finally, Jefferies Financial Group cut their price objective on shares of Rio Tinto Group from $83.00 to $73.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Three investment analysts have rated the stock with a hold rating, five have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Rio Tinto Group currently has an average rating of “Moderate Buy” and an average price target of $73.00.

Rio Tinto Group Stock Down 1.5 %

Shares of NYSE:RIO opened at $62.89 on Tuesday. The company has a market cap of $78.80 billion, a price-to-earnings ratio of 9.75, a PEG ratio of 0.42 and a beta of 0.60. Rio Tinto Group has a 12 month low of $57.85 and a 12 month high of $74.24. The company has a current ratio of 1.63, a quick ratio of 1.16 and a debt-to-equity ratio of 0.23. The company has a 50-day moving average price of $61.84 and a 200 day moving average price of $62.85.

Rio Tinto Group Increases Dividend

The firm also recently disclosed a semi-annual dividend, which will be paid on Thursday, April 17th. Investors 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 represents a yield of 7%. This is a boost from Rio Tinto Group’s previous semi-annual dividend of $1.77. Rio Tinto Group’s payout ratio is presently 69.15%.

Institutional Trading of Rio Tinto Group

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

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.