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

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

A number of other research analysts also recently weighed in on RIO. StockNews.com downgraded shares of Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a research report on Saturday, February 22nd. Jefferies Financial Group lowered 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. Finally, Clarkson Capital upgraded shares of Rio Tinto Group to a “strong-buy” rating in a research report on Friday, February 28th. Three research analysts have rated the stock with a hold rating, five have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, Rio Tinto Group has an average rating of “Moderate Buy” and a consensus target price of $73.00.

Rio Tinto Group Stock Up 1.0 %

Shares of Rio Tinto Group stock opened at $64.12 on Tuesday. The company has a market cap of $80.35 billion, a price-to-earnings ratio of 9.94, a price-to-earnings-growth ratio of 0.42 and a beta of 0.60. The company’s 50 day moving average is $61.65 and its 200 day moving average is $62.85. Rio Tinto Group has a twelve month low of $57.85 and a twelve month high of $74.24. 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 Increases Dividend

The company also recently disclosed a semi-annual dividend, which will be paid on Thursday, April 17th. Stockholders of record on Friday, March 7th will be paid a $2.23 dividend. The ex-dividend date is Friday, March 7th. This is a boost from Rio Tinto Group’s previous semi-annual dividend of $1.77. This represents a dividend yield of 7%. Rio Tinto Group’s dividend payout ratio is 69.15%.

Institutional Trading of Rio Tinto Group

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Dorsey & Whitney Trust CO LLC increased its stake in shares of Rio Tinto Group by 2.0% in the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 8,113 shares of the mining company’s stock worth $477,000 after purchasing an additional 160 shares in the last quarter. Capital Analysts LLC grew its stake in Rio Tinto Group by 6.0% during the fourth quarter. Capital Analysts LLC now owns 2,886 shares of the mining company’s stock valued at $170,000 after acquiring an additional 163 shares in the last quarter. Nemes Rush Group LLC grew its stake in 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 valued at $109,000 after acquiring an additional 169 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. grew its stake in 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 grew its stake in 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 valued at $315,000 after acquiring an additional 198 shares in the last quarter. 19.33% of the stock is owned by hedge funds and other 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.