Rio Tinto Group (LON:RIO) Stock Price Passes Above 200 Day Moving Average – Here’s Why

Rio Tinto Group (LON:RIO)’s share price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of GBX 5,668.44 and traded as high as GBX 7,232. Rio Tinto Group shares last traded at GBX 7,178.77, with a volume of 4,277,806 shares changing hands.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. JPMorgan Chase & Co. lifted their price objective on Rio Tinto Group from GBX 6,100 to GBX 6,950 and gave the stock an “overweight” rating in a report on Wednesday, December 3rd. 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 research report on Thursday, January 22nd. Citigroup lifted their price target on shares of Rio Tinto Group from GBX 4,600 to GBX 5,700 and gave the stock a “neutral” rating in a research note on Monday, November 17th. Finally, Berenberg Bank reissued a “hold” rating and issued a GBX 5,300 price target on shares of Rio Tinto Group in a report on Wednesday, January 21st. One 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, the stock presently has an average rating of “Hold” and a consensus price target of GBX 5,830.

Rio Tinto Group Price Performance

The company’s 50 day moving average price is GBX 6,714.16 and its 200 day moving average price is GBX 5,676.21. The company has a debt-to-equity ratio of 39.51, a quick ratio of 1.34 and a current ratio of 1.44. The company has a market cap of £134.72 billion, a price-to-earnings ratio of 11.09, a P/E/G ratio of -0.64 and a beta of 0.65.

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.