Rio Tinto Group (LON:RIO) Share Price Crosses Above 200-Day Moving Average – What’s Next?

Rio Tinto Group (LON:RIO) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 7,183.85 and traded as high as GBX 7,594. Rio Tinto Group shares last traded at GBX 7,457, with a volume of 2,465,322 shares changing hands.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. JPMorgan Chase & Co. reduced their price target on shares of Rio Tinto Group from GBX 8,270 to GBX 8,200 and set a “neutral” rating on the stock in a research report on Tuesday, July 28th. Royal Bank Of Canada reiterated an “underperform” rating and set a GBX 6,100 price objective on shares of Rio Tinto Group in a research report on Wednesday, July 29th. Berenberg Bank raised shares of Rio Tinto Group from a “hold” rating to a “buy” rating and lifted their price objective for the stock from GBX 8,100 to GBX 8,600 in a research note on Thursday, July 30th. Jefferies Financial Group restated a “hold” rating and issued a GBX 8,500 target price on shares of Rio Tinto Group in a report on Tuesday, June 9th. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a GBX 7,400 target price on shares of Rio Tinto Group in a research report on Thursday, July 30th. One equities research analyst has rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of GBX 7,707.14.

Rio Tinto Group Trading Up 0.1%

The stock has a market cap of £121.38 billion, a P/E ratio of 12.27, a P/E/G ratio of -0.64 and a beta of 0.65. The company has a current ratio of 1.42, a quick ratio of 1.34 and a debt-to-equity ratio of 34.91. The company has a 50-day moving average price of GBX 7,250.49 and a two-hundred day moving average price of GBX 7,183.85.

Insider Buying and Selling

In other Rio Tinto Group news, insider Peter Cunningham sold 4 shares of Rio Tinto Group stock in a transaction on Friday, July 17th. The shares were sold at an average price of GBX 6,640, for a total transaction of £265.60. 0.10% of the stock is owned by insiders.

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.