Rio Tinto Group (LON:RIO) Reaches New 52-Week High – What’s Next?

Rio Tinto Group (LON:RIO) hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as GBX 5,948 and last traded at GBX 5,899.89, with a volume of 544931625 shares trading hands. The stock had previously closed at GBX 5,825.26.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on RIO shares. 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 for the company in a research report on Monday, December 1st. 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 report on Wednesday, December 3rd. Citigroup raised their price target on shares of Rio Tinto Group from GBX 4,600 to GBX 5,700 and gave the company a “neutral” rating in a report on Monday, November 17th. Finally, Berenberg Bank reiterated 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 investment analyst has rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of GBX 5,570.

Rio Tinto Group Stock Performance

The firm has a market capitalization of £96.39 billion, a price-to-earnings ratio of 9.45, a price-to-earnings-growth ratio of -0.64 and a beta of 0.59. The company has a debt-to-equity ratio of 25.28, a quick ratio of 1.34 and a current ratio of 1.70. The stock’s fifty day moving average is GBX 5,408.08 and its two-hundred day moving average is GBX 4,852.45.

Insider Activity at Rio Tinto Group

In other Rio Tinto Group news, insider Peter Cunningham sold 3,108 shares of the firm’s stock in a transaction that occurred on Tuesday, December 2nd. The stock was sold at an average price of GBX 5,464, for a total transaction of £169,821.12. Company insiders own 0.10% of the company’s stock.

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.