Rio Tinto Group (LON:RIO) Stock Crosses Above Two Hundred Day Moving Average – Here’s What Happened

Rio Tinto Group (LON:RIO)’s stock price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of GBX 5,150.52 ($68.89) and traded as high as GBX 5,334 ($71.35). Rio Tinto Group shares last traded at GBX 5,298 ($70.87), with a volume of 1,748,808 shares traded.

Wall Street Analyst Weigh In

RIO has been the subject of several research analyst reports. Bank of America reissued a “buy” rating and issued a GBX 7,700 ($103.00) price objective on shares of Rio Tinto Group in a report on Wednesday, June 26th. JPMorgan Chase & Co. reduced their price objective on Rio Tinto Group from GBX 6,500 ($86.94) to GBX 6,430 ($86.01) and set an “overweight” rating on the stock in a research note on Thursday, August 1st. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Rio Tinto Group from GBX 6,200 ($82.93) to GBX 6,000 ($80.26) and set a “buy” rating on the stock in a report on Monday, September 9th. Berenberg Bank lowered shares of Rio Tinto Group from a “buy” rating to a “hold” rating and decreased their price target for the company from GBX 5,900 ($78.92) to GBX 5,800 ($77.58) in a report on Wednesday, June 26th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a GBX 5,700 ($76.24) price objective on shares of Rio Tinto Group in a research note on Thursday, August 1st. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, Rio Tinto Group has a consensus rating of “Moderate Buy” and an average price target of GBX 6,271.67 ($83.89).

Rio Tinto Group Stock Down 0.5 %

The firm has a market cap of £66.23 billion, a P/E ratio of 1,076.83, a price-to-earnings-growth ratio of -0.64 and a beta of 0.59. The firm’s 50-day moving average price is GBX 4,888.77 and its 200 day moving average price is GBX 5,150.52. The company has a quick ratio of 1.34, a current ratio of 1.70 and a debt-to-equity ratio of 25.01.

Rio Tinto Group Cuts Dividend

The company also recently declared a dividend, which was paid on Thursday, September 26th. Shareholders of record on Thursday, August 15th were paid a $1.77 dividend. The ex-dividend date was Thursday, August 15th. This represents a dividend yield of 2.79%. Rio Tinto Group’s payout ratio is currently 6,869.92%.

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.