Rio Tinto Group (NYSE:RIO) is included among the The 11 best FTSE dividend stocks to buy right now.
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Rio Tinto Group (NYSE:RIO) is a leading global mining company dedicated to 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 cut his company price target on Rio Tinto Group (NYSE:RIO) from 6,170 GBp to 6,100 GBp, maintaining an Overweight rating on the stock.
Earlier this month, Rio Tinto Group (NYSE:RIO) reported a 6% quarter-on-quarter increase in third-quarter iron ore shipments, despite scheduled maintenance work. Its operations in Australia’s Pilbara region recorded the second-highest shipment levels in the third quarter since 2019. Copper production for the quarter reached 204,000 tonnes, a 10% year-on-year increase, keeping the company on track to hit the upper end of its target. guidance for the entire year from 780,000 to 850,000 tons. The upgrade reflects strong production growth at the Oyu Tolgoi mine in Mongolia.
Rio Tinto Group (NYSE:RIO) also continues to be 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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