Rio Tinto Group (LON:RIO) Sets New 12-Month High – Here’s Why

Rio Tinto Group (LON:RIO)’s share price reached a new 52-week high during trading on Wednesday . The stock traded as high as GBX 7,247 and last traded at GBX 7,231, with a volume of 49652551 shares trading hands. The stock had previously closed at GBX 7,083.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. Citigroup boosted their price target on Rio Tinto Group from GBX 4,600 to GBX 5,700 and gave the stock a “neutral” rating in a report on Monday, November 17th. JPMorgan Chase & Co. lifted 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. Berenberg Bank restated a “hold” rating and issued a GBX 5,300 price target on shares of Rio Tinto Group in a research report on Wednesday, January 21st. Finally, Royal Bank Of Canada raised their price target on shares of Rio Tinto Group from GBX 6,000 to GBX 6,100 and gave the company a “sector perform” rating in a research note on Thursday, January 22nd. One equities research analyst has rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of GBX 5,830.

Rio Tinto Group Price Performance

The firm has a market capitalization of £140.99 billion, a P/E ratio of 11.25, a PEG ratio of -0.64 and a beta of 0.59. The company has a fifty day moving average of GBX 6,274.09 and a 200 day moving average of GBX 5,401.37. 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 at Rio Tinto Group

In other news, insider Peter Cunningham sold 3,108 shares of the stock in a transaction on Tuesday, December 2nd. The shares were sold at an average price of GBX 5,464, for a total transaction of £169,821.12. Corporate 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.