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

Rio Tinto Group (LON:RIO) shares reached a new 52-week high on Wednesday . The stock traded as high as GBX 7,432 and last traded at GBX 7,431, with a volume of 31361385 shares. The stock had previously closed at GBX 7,269.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. 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. Royal Bank Of Canada upped their price objective on 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. Berenberg Bank reiterated a “hold” rating and issued a GBX 5,300 target price on shares of Rio Tinto Group in a research report on Wednesday, January 21st. Finally, Citigroup boosted their price target on Rio Tinto Group from GBX 4,600 to GBX 5,700 and gave the company a “neutral” rating in a report on Monday, November 17th. One research analyst has rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of GBX 5,830.

Rio Tinto Group Trading Up 2.9%

The firm has a market cap of £149.37 billion, a P/E ratio of 11.92, a P/E/G ratio of -0.64 and a beta of 0.59. The company has a debt-to-equity ratio of 25.28, a quick ratio of 1.34 and a current ratio of 1.70. The firm has a fifty day moving average of GBX 6,529.16 and a 200-day moving average of GBX 5,562.05.

Insider Transactions at Rio Tinto Group

In other news, insider Peter Cunningham sold 3,108 shares of the business’s 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. 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.