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

Rio Tinto Group (LON:RIO)’s stock price hit a new 52-week high on Wednesday . The stock traded as high as GBX 7,575 and last traded at GBX 7,432, with a volume of 200815641 shares changing hands. The stock had previously closed at GBX 7,119.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on RIO shares. Berenberg Bank reaffirmed a “hold” rating and set a GBX 5,300 price target on shares of Rio Tinto Group in a report on Wednesday, January 21st. Royal Bank Of Canada boosted their target price on shares of Rio Tinto Group from GBX 6,000 to GBX 6,100 and gave the stock a “sector perform” rating in a report on Thursday, January 22nd. One investment analyst has rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, Rio Tinto Group presently has an average rating of “Hold” and an average price target of GBX 5,830.

Rio Tinto Group Price Performance

The stock has a market cap of £120.66 billion, a PE ratio of 12.20, a P/E/G ratio of -0.64 and a beta of 0.64. The firm’s fifty day moving average price is GBX 6,933.93 and its 200 day moving average price is GBX 6,038.10. The company has a quick ratio of 1.34, a current ratio of 1.44 and a debt-to-equity ratio of 39.51.

Rio Tinto Group Company Profile

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.