Rio Tinto Group (LON:RIO) Reaches New 52-Week High – Time to Buy?

Rio Tinto Group (LON:RIO)’s stock price hit a new 52-week high during trading on Wednesday . The company traded as high as GBX 5,668 and last traded at GBX 5,607, with a volume of 371210063 shares. The stock had previously closed at GBX 5,528.

Analysts Set New Price Targets

RIO has been the topic of several recent research reports. JPMorgan Chase & Co. upped their target price on shares of Rio Tinto Group from GBX 6,100 to GBX 6,950 and gave the company an “overweight” rating in a research report on Wednesday, December 3rd. Citigroup raised their price objective on Rio Tinto Group from GBX 4,600 to GBX 5,700 and gave the company a “neutral” rating in a research note on Monday, November 17th. Berenberg Bank reiterated a “hold” rating and issued a GBX 5,200 target price on shares of Rio Tinto Group in a report on Wednesday, October 15th. Finally, 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. One analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Rio Tinto Group presently has an average rating of “Hold” and a consensus price target of GBX 5,570.

Rio Tinto Group Stock Performance

The company has a quick ratio of 1.34, a current ratio of 1.70 and a debt-to-equity ratio of 25.28. The firm has a 50 day moving average of GBX 5,276.21 and a 200-day moving average of GBX 4,771.25. The company has a market cap of £91.11 billion, a P/E ratio of 8.93, 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 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 transaction of £169,821.12. Corporate 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.