Rio Tinto Group (LON:RIO) Stock Passes Above Two Hundred Day Moving Average – Should You Sell?

Rio Tinto Group (LON:RIO)’s stock price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 7,289.14 and traded as high as GBX 7,336. Rio Tinto Group shares last traded at GBX 7,327, with a volume of 1,707,714 shares traded.

Analyst Ratings Changes

A number of brokerages have recently commented on RIO. Royal Bank Of Canada reiterated an “underperform” rating and set a GBX 6,100 price target on shares of Rio Tinto Group in a report on Wednesday, July 29th. Citigroup lowered their target price on Rio Tinto Group from GBX 8,280 to GBX 8,250 and set a “neutral” rating for the company in a research report on Friday, July 10th. JPMorgan Chase & Co. cut their target price on 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. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a GBX 7,400 price target on shares of Rio Tinto Group in a research report on Thursday, July 30th. Finally, Jefferies Financial Group restated a “hold” rating and set a GBX 8,500 price objective on shares of Rio Tinto Group in a research report on Tuesday, June 9th. One analyst has rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of GBX 7,707.14.

Rio Tinto Group Trading Down 1.5%

The company has a market cap of £117.39 billion, a price-to-earnings ratio of 9.78, a P/E/G ratio of -0.64 and a beta of 0.66. The company has a current ratio of 1.42, a quick ratio of 1.34 and a debt-to-equity ratio of 34.91. The firm’s 50-day moving average price is GBX 7,274.68 and its 200 day moving average price is GBX 7,288.64.

Insider Buying and Selling

In other 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 transaction of £265.60. 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.