Rio Tinto Group (LON:RIO) Shares Cross Above 200 Day Moving Average – What’s Next?

Rio Tinto Group (LON:RIO)’s share price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of GBX 7,245.86 and traded as high as GBX 7,745. Rio Tinto Group shares last traded at GBX 7,666, with a volume of 1,996,551 shares changing hands.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. JPMorgan Chase & Co. dropped their price objective on shares of Rio Tinto Group from GBX 8,270 to GBX 8,200 and set a “neutral” rating on the stock in a report on Tuesday, July 28th. Royal Bank Of Canada reiterated an “underperform” rating and issued a GBX 6,100 target price on shares of Rio Tinto Group in a research note on Wednesday, July 29th. Berenberg Bank raised Rio Tinto Group from a “hold” rating to a “buy” rating and lifted their target price for the stock from GBX 8,100 to GBX 8,600 in a research report on Thursday, July 30th. Shore Capital Group lowered their price target on Rio Tinto Group from GBX 7,400 to GBX 6,900 and set a “hold” rating on the stock in a research note on Tuesday, June 2nd. Finally, Citigroup cut their price target on Rio Tinto Group from GBX 8,280 to GBX 8,250 and set a “neutral” rating for the company in a report on Friday, July 10th. One investment analyst has rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of GBX 7,707.14.

Rio Tinto Group Trading Up 0.7%

The company has a market cap of £126.62 billion, a price-to-earnings ratio of 10.55, a PEG ratio of -0.64 and a beta of 0.66. The company has a debt-to-equity ratio of 34.91, a quick ratio of 1.34 and a current ratio of 1.42. The business’s 50 day moving average price is GBX 7,144.95 and its 200-day moving average price is GBX 7,249.54.

Insiders Place Their Bets

In related news, insider Peter Cunningham sold 4 shares of the stock in a transaction dated Friday, July 17th. The shares were sold at an average price of GBX 6,640, for a total value of £265.60. 0.10% of the stock is currently owned by insiders.

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.