Rio Tinto Group (LON:RIO) Hits New 12-Month High – Should You Buy?

Rio Tinto Group (LON:RIO)’s share price hit a new 52-week high during trading on Monday . The company traded as high as GBX 6,106.74 and last traded at GBX 6,090, with a volume of 25182689 shares changing hands. The stock had previously closed at GBX 6,014.

Analyst Ratings Changes

Several research analysts have issued reports on the stock. Citigroup raised their price objective on shares of Rio Tinto Group from GBX 4,600 to GBX 5,700 and gave the stock a “neutral” rating in a research report on Monday, November 17th. JPMorgan Chase & Co. increased their target price on shares of Rio Tinto Group from GBX 6,100 to GBX 6,950 and gave the stock an “overweight” rating in a research note on Wednesday, December 3rd. Royal Bank Of Canada lowered their price target on 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, Berenberg Bank reaffirmed a “hold” rating and set a GBX 5,200 price objective on shares of Rio Tinto Group in a research note on Wednesday, October 15th. One analyst has rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of GBX 5,570.

Rio Tinto Group Price Performance

The company has a market cap of £101.23 billion, a price-to-earnings ratio of 9.92, a PEG ratio of -0.64 and a beta of 0.59. The company’s 50 day moving average price is GBX 5,589.71 and its 200 day moving average price is GBX 4,987.37. The company has a current ratio of 1.70, a quick ratio of 1.34 and a debt-to-equity ratio of 25.28.

Insider Transactions at Rio Tinto Group

In related news, insider Peter Cunningham sold 3,108 shares of the firm’s stock in a transaction dated Tuesday, December 2nd. The shares were sold at an average price of GBX 5,464, for a total value of £169,821.12. 0.10% of the stock is owned by corporate insiders.

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.