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

Rio Tinto Group (LON:RIO) shares hit a new 52-week high during trading on Tuesday . The company traded as high as GBX 7,038 and last traded at GBX 7,038, with a volume of 2923400 shares trading hands. The stock had previously closed at GBX 6,802.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on RIO. Berenberg Bank reissued a “hold” rating and set a GBX 5,300 price objective on shares of Rio Tinto Group in a report on Wednesday, January 21st. Citigroup raised their price target on 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. Royal Bank Of Canada raised their target price on 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. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Rio Tinto Group from GBX 6,100 to GBX 6,950 and gave the company an “overweight” rating in a report on Wednesday, December 3rd. One equities research analyst has rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of GBX 5,830.

Rio Tinto Group Price Performance

The company has a market cap of £114.36 billion, a P/E ratio of 11.21, a P/E/G ratio of -0.64 and a beta of 0.59. The company’s 50-day moving average price is GBX 6,008.51 and its 200-day moving average price is GBX 5,274.33. The company has a debt-to-equity ratio of 25.28, a current ratio of 1.70 and a quick ratio of 1.34.

Insider Activity

In related news, insider Peter Cunningham sold 3,108 shares of Rio Tinto Group 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 value of £169,821.12. 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.