Rio Tinto Group (NYSE:RIO – Get Rating) – Stock analysts at Jefferies Financial Group decreased their FY2022 earnings per share estimates for shares of Rio Tinto Group in a research note issued on Tuesday, September 27th. Jefferies Financial Group analyst C. Lafemina now forecasts that the mining company will earn $8.64 per share for the year, down from their prior estimate of $8.69. Jefferies Financial Group has a "Buy" rating on the stock. The consensus estimate for Rio Tinto Group's current full-year earnings is $9.12 per share. Jefferies Financial Group also issued estimates for Rio Tinto Group's FY2024 earnings at $8.65 EPS.

RIO has been the topic of a number of other research reports. Deutsche Bank Aktiengesellschaft dropped their price target on Rio Tinto Group from GBX 6,000 ($72.50) to GBX 5,800 ($70.08) in a research note on Wednesday, June 29th. Credit Suisse Group restated an "outperform" rating on shares of Rio Tinto Group in a research note on Wednesday, July 6th. Macquarie cut Rio Tinto Group from an "outperform" rating to a "neutral" rating in a research note on Tuesday, August 23rd. JPMorgan Chase & Co. increased their price objective on Rio Tinto Group from GBX 5,350 ($64.64) to GBX 5,580 ($67.42) in a research report on Monday. Finally, Berenberg Bank increased their price objective on Rio Tinto Group from GBX 4,100 ($49.54) to GBX 4,300 ($51.96) in a research report on Friday, July 29th. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, Rio Tinto Group has an average rating of "Hold" and an average price target of $4,378.57.

Rio Tinto Group Trading Up 2.4 %

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of RIO. Arrowstreet Capital Limited Partnership increased its position in shares of Rio Tinto Group by 58.9% in the first quarter. Arrowstreet Capital Limited Partnership now owns 12,899,694 shares of the mining company's stock worth $1,037,135,000 after purchasing an additional 4,783,488 shares during the period. Franklin Resources Inc. increased its position in shares of Rio Tinto Group by 203.8% in the second quarter. Franklin Resources Inc. now owns 6,188,218 shares of the mining company's stock worth $377,482,000 after purchasing an additional 4,151,342 shares during the period. Cowa LLC bought a new position in shares of Rio Tinto Group in the first quarter worth $26,000. Wellington Management Group LLP increased its position in shares of Rio Tinto Group by 26.9% in the first quarter. Wellington Management Group LLP now owns 5,475,787 shares of the mining company's stock worth $440,253,000 after purchasing an additional 1,161,737 shares during the period. Finally, Neuberger Berman Group LLC increased its position in shares of Rio Tinto Group by 22.3% in the first quarter. Neuberger Berman Group LLC now owns 4,747,831 shares of the mining company's stock worth $381,726,000 after purchasing an additional 864,451 shares during the period. Institutional investors own 10.05% of the company's stock.

Rio Tinto Group Cuts Dividend

The business also recently declared a semi-annual dividend, which was paid on Thursday, September 22nd. Investors of record on Friday, August 12th were given a $2.67 dividend. This represents a dividend yield of 11.4%. The ex-dividend date of this dividend was Thursday, August 11th.

About Rio Tinto Group

(Get Rating)

Rio Tinto Group engages in exploring, mining, and processing mineral resources worldwide. The company offers aluminum, copper, diamonds, gold, borates, titanium dioxide, salt, iron ore, and lithium. It also owns and operates open pit and underground mines, mills, refineries, smelters, power stations, and research and service facilities.

Featured Stories

• Get a free copy of the StockNews.com research report on Rio Tinto Group (RIO)
• Humana Proves Vertically Integrated Healthcare Works
• This Small-Cap Healthcare Name Is Outperforming Its Index
• 2 Casino Stocks Worth Taking a Look At
• What Cintas Can Teach Investors About This Bear Market?
• Blackberry Stock Declines As Results Come In Lukewarm Once Again

Receive News & Ratings for Rio Tinto Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Rio Tinto Group and related companies with MarketBeat.com's FREE daily email newsletter.