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

Rio Tinto Group (LON:RIO) hit a new 52-week high on Wednesday . The stock traded as high as GBX 6,341.19 and last traded at GBX 6,330, with a volume of 26583523 shares changing hands. The stock had previously closed at GBX 6,214.

Analyst Upgrades and Downgrades

Several analysts have issued reports on RIO shares. JPMorgan Chase & Co. boosted their target price on 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. Royal Bank Of Canada decreased their price objective on Rio Tinto Group from GBX 5,000 to GBX 4,900 and set a “sector perform” rating for the company in a report on Monday, December 1st. Berenberg Bank reaffirmed a “hold” rating and set a GBX 5,200 price objective on shares of Rio Tinto Group in a report on Wednesday, October 15th. Finally, Citigroup increased their target price on shares of Rio Tinto Group from GBX 4,600 to GBX 5,700 and gave the stock a “neutral” rating in a research report on Monday, November 17th. One research analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Rio Tinto Group has a consensus rating of “Hold” and an average price target of GBX 5,570.

Rio Tinto Group Price Performance

The business has a fifty day moving average of GBX 5,661.07 and a 200-day moving average of GBX 5,055.35. The company has a current ratio of 1.70, a quick ratio of 1.34 and a debt-to-equity ratio of 25.28. The firm has a market cap of £102.76 billion, a PE ratio of 10.07, a PEG ratio of -0.64 and a beta of 0.59.

Insider Activity at Rio Tinto Group

In other news, insider Peter Cunningham sold 3,108 shares of the firm’s stock in a transaction that occurred on Tuesday, December 2nd. The shares were sold at an average price of GBX 5,464, for a total value 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.