The price of Rio Tinto Group (NYSE:RIO) shares last traded on Wall Street fell -0.65% to $58.36.
Based on available information, 7 analysts follow Rio Tinto Group (NYSE:RIO). The consensus rating among analysts is ‘Hold’. As we calculate the median target price by taking the range between a high of $92.00 and a low of $73.50, we find $77.45. Given the previous closing price of $58.74, this indicates a potential upside of 31.85 percent. RIO stock price is now -10.13% away from the 50-day moving average and -13.23% away from the 200-day moving average. The market capitalization of the company currently stands at $98.34B.
Among analysts, 3 rate the stock a hold while 2 rate it a buy. Brokers who have rated the stock have averaged $80.10 as their price target over the next twelve months.
A total of 6.50% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in RIO stock. A new stake in Rio Tinto Group shares was purchased by PENDAL GROUP LTD during the first quarter worth $153,078,000. MARSHALL WACE, LLP invested $28,525,000 in shares of RIO during the first quarter. In the first quarter, OPTIVER HOLDING B.V. acquired a new stake in Rio Tinto Group valued at approximately $25,914,000. EP WEALTH ADVISORS, LLC acquired a new stake in RIO for approximately $19,423,000. MEREWETHER INVESTMENT MANAGEMENT, LP purchased a new stake in RIO valued at around $14,590,000 in the second quarter. In total, there are 845 active investors with 11.10% ownership of the company’s stock.
A candlestick chart of Rio Tinto Group (NYSE: RIO) showed a price of $58.31 on Wednesday morning. During the past 12 months, Rio Tinto Group has had a low of $50.92 and a high of $80.51. As of last week, the company has a debt-to-equity ratio of 0.27, a current ratio of 2.00, and a quick ratio of 1.40. The fifty day moving average price for RIO is $64.85 and a two-hundred day moving average price translates $67.27 for the stock.
The latest earnings results from Rio Tinto Group (NYSE: RIO) was released for Jun, 2023. The net profit margin was 16.50% and return on equity was 16.90% for RIO.
Moreover, the firm recently paid out its quarterly dividend on 09/21/2023. Investors who held shares on 08/11/2023 were paid a $1.77 dividend. On an annualized basis, this represents a $6.69 dividend and a 11.46% percent yield. There was an ex-dividend date of 08/10/2023 for this dividend. In terms of dividend payout ratio, RIO is presently at 84.40%.
Rio Tinto Group(RIO) 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. It offers aluminum, copper, iron ore, diamonds, gold, borates, titanium dioxide, salt, silver, molybdenum, and lithium. The company also owns and operates open pit and underground mines, refineries, smelters, and concentrator facilities, as well as power stations, research, and service facilities. Rio Tinto Group was founded in 1873 and is headquartered in London, the United Kingdom.
