Rio Tinto Group (LON:RIO) Reaches New 12-Month High – What’s Next?

Rio Tinto Group (LON:RIO)’s share price reached a new 52-week high during mid-day trading on Monday . The stock traded as high as GBX 6,025 and last traded at GBX 5,948, with a volume of 17122100 shares trading hands. The stock had previously closed at GBX 5,982.

Wall Street Analyst Weigh In

A number of analysts have recently commented on RIO shares. Berenberg Bank reissued a “hold” rating and issued a GBX 5,200 price objective on shares of Rio Tinto Group in a research note on Wednesday, October 15th. JPMorgan Chase & Co. raised their price objective on shares of Rio Tinto Group from GBX 6,100 to GBX 6,950 and gave the company an “overweight” rating in a research report on Wednesday, December 3rd. Royal Bank Of Canada dropped their target price on shares of Rio Tinto Group from GBX 5,000 to GBX 4,900 and set a “sector perform” rating on the stock in a report on Monday, December 1st. Finally, Citigroup raised their target price on shares of Rio Tinto Group from GBX 4,600 to GBX 5,700 and gave the stock a “neutral” rating in a report on Monday, November 17th. One analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of GBX 5,570.

Rio Tinto Group Stock Down 0.5%

The business’s 50 day simple moving average is GBX 5,513.34 and its 200 day simple moving average is GBX 4,922.09. The company has a market capitalization of £97.40 billion, a PE ratio of 9.55, a price-to-earnings-growth ratio of -0.64 and a beta of 0.59. The company has a quick ratio of 1.34, a current ratio of 1.70 and a debt-to-equity ratio of 25.28.

Insider Buying and Selling

In related news, insider Peter Cunningham sold 3,108 shares of the business’s stock in a transaction that occurred on Tuesday, December 2nd. The shares were sold at an average price of GBX 5,464, for a total transaction of £169,821.12. Insiders own 0.10% of the company’s stock.

About Rio Tinto Group

We operate in 35 countries where our 60,000 employees are working to find better ways to provide the materials the world needs. Our portfolio includes iron ore, copper, aluminium and a range of other minerals and materials needed for people, communities and nations to grow and prosper, and for the world to cut carbon emissions to net zero. We continuously search for new projects that can support the energy transition, currently exploring for 7 commodities in 17 countries.

We have more than 150 years of mining and processing experience guiding our work.