Rio Tinto plc (LON:RIO) to Issue GBX 119.74 Dividend

Rio Tinto plc (LON:RIO) announced a dividend on Wednesday, July 29th, Upcoming.Co.Uk reports. Stockholders of record on Thursday, August 6th will be paid a dividend of GBX 119.74 ($1.47) per share on Thursday, September 17th. This represents a dividend yield of 2.5%. The ex-dividend date is Thursday, August 6th. The official announcement can be viewed at this link.

Shares of Rio Tinto stock traded up GBX 33 ($0.41) during midday trading on Thursday, reaching GBX 4,798 ($59.05). The company had a trading volume of 1,664,967 shares, compared to its average volume of 4,860,000. The stock has a fifty day moving average price of GBX 4,629.40 and a 200 day moving average price of GBX 4,125.71. The company has a debt-to-equity ratio of 31.20, a current ratio of 1.56 and a quick ratio of 1.22. The firm has a market cap of $59.82 billion and a PE ratio of 9.84. Rio Tinto has a fifty-two week low of GBX 44.87 ($0.55) and a fifty-two week high of GBX 5,152 ($63.40).

In related news, insider Jean-S√©bastien Jacques sold 13,324 shares of the company’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of GBX 4,372 ($53.80), for a total transaction of ¬£582,525.28 ($716,865.96).

Several research analysts have issued reports on the stock. Royal Bank of Canada set a GBX 4,200 ($51.69) price target on shares of Rio Tinto and gave the stock a “neutral” rating in a report on Wednesday. Credit Suisse Group lifted their target price on shares of Rio Tinto from GBX 3,700 ($45.53) to GBX 3,900 ($47.99) and gave the stock an “underperform” rating in a research note on Monday, July 6th. JPMorgan Chase & Co. upped their price target on shares of Rio Tinto from GBX 5,500 ($67.68) to GBX 5,590 ($68.79) and gave the company a “neutral” rating in a research report on Wednesday. Deutsche Bank lifted their price objective on Rio Tinto from GBX 4,900 ($60.30) to GBX 5,000 ($61.53) and gave the stock a “buy” rating in a research report on Thursday. Finally, Morgan Stanley reissued an “equal weight” rating on shares of Rio Tinto in a research note on Monday, July 13th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the company. Rio Tinto currently has an average rating of “Hold” and a consensus target price of GBX 4,538 ($55.85).

About Rio Tinto

Rio Tinto Group engages in finding, mining, and processing mineral resources worldwide. The company offers aluminium, silver, molybdenum, copper, diamonds, gold, borates, titanium dioxide, salt, iron ore, and uranium. It is also involved in the alumina production; primary aluminium smelting; bauxite mining; alumina refining; and ilmenite mining, as well as provision of gypsum.

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Dividend History for Rio Tinto (LON:RIO)

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