Rio Tinto Group (LON:RIO) Hits New 52-Week High – Should You Buy?

Rio Tinto Group (LON:RIO)’s stock price reached a new 52-week high during trading on Wednesday . The company traded as high as GBX 6,780 and last traded at GBX 6,718, with a volume of 1261902250 shares trading hands. The stock had previously closed at GBX 6,728.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the company. Berenberg Bank reaffirmed a “hold” rating and issued a GBX 5,300 price target on shares of Rio Tinto Group in a report on Wednesday, January 21st. Citigroup boosted their price objective on Rio Tinto Group from GBX 4,600 to GBX 5,700 and gave the company a “neutral” rating in a research report on Monday, November 17th. Royal Bank Of Canada upped their target price on Rio Tinto Group from GBX 6,000 to GBX 6,100 and gave the stock a “sector perform” rating in a research note on Thursday, January 22nd. Finally, JPMorgan Chase & Co. lifted their price target on shares of Rio Tinto Group from GBX 6,100 to GBX 6,950 and gave the company an “overweight” rating in a research note on Wednesday, December 3rd. One investment analyst has rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of GBX 5,830.

Rio Tinto Group Stock Performance

The company has a quick ratio of 1.34, a current ratio of 1.70 and a debt-to-equity ratio of 25.28. The firm has a 50-day moving average price of GBX 5,979.57 and a two-hundred day moving average price of GBX 5,245.37. The firm has a market cap of £109.43 billion, a PE ratio of 10.73, a P/E/G ratio of -0.64 and a beta of 0.59.

Insiders Place Their Bets

In other Rio Tinto Group news, insider Peter Cunningham sold 3,108 shares of Rio Tinto Group stock in a transaction 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.