Rio Tinto Group (NYSE:RIO) is included among the 11 Best FTSE Dividend Stocks to Buy Right Now.
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Rio Tinto Group is a leading global mining company engaged in the exploration, extraction, and processing of key metals and minerals vital to modern industries, including iron ore, aluminum, copper, and lithium.
On October 16, JPMorgan analyst Dominic O’Kane trimmed the firm’s price target on Rio Tinto Group from 6,170 GBp to 6,100 GBp while maintaining an Overweight rating on the stock.
Earlier in the month, Rio Tinto Group reported a 6% quarter-over-quarter increase in third-quarter iron ore shipments, despite scheduled maintenance work. Its operations in Australia’s Pilbara region recorded the second-highest Q3 shipment levels since 2019. Copper production for the quarter reached 204,000 tons, up 10% year over year, keeping the company on track to meet the upper end of its full-year guidance of 780,000–850,000 tons. The improvement reflects strong output growth at the Oyu Tolgoi mine in Mongolia.
Rio Tinto Group also remains recognized for its consistent dividend payments. It currently pays a semi-annual dividend of $1.48 per share and has a dividend yield of 5.11%, as of October 29.
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