Rio Tinto Group (LON:RIO) Reaches New 12-Month High – What’s Next?

Rio Tinto Group (LON:RIO) reached a new 52-week high during mid-day trading 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.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Berenberg Bank reissued 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. Citigroup increased their price target on Rio Tinto Group from GBX 4,600 to GBX 5,700 and gave the company a “neutral” rating in a research report on Monday, November 17th. JPMorgan Chase & Co. lifted their price target on Rio Tinto Group from GBX 6,100 to GBX 6,950 and gave the stock an “overweight” rating in a research note on Wednesday, December 3rd. Finally, Royal Bank Of Canada reduced their price objective on shares of Rio Tinto Group from GBX 5,000 to GBX 4,900 and set a “sector perform” rating for the company in a research note on Monday, December 1st. One equities research analyst has rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of GBX 5,570.

Rio Tinto Group Price Performance

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 stock has a 50-day simple moving average of GBX 5,705.35 and a 200 day simple moving average of GBX 5,073.68. The stock has a market capitalization of £102.74 billion, a price-to-earnings ratio of 10.07, a price-to-earnings-growth ratio of -0.64 and a beta of 0.59.

Insider Activity at Rio Tinto Group

In related 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 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. 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.