Rio Tinto Group (LON:RIO) Sets New 12-Month High – Here’s Why

Rio Tinto Group (LON:RIO) hit a new 52-week high on Tuesday . The company traded as high as GBX 7,038 and last traded at GBX 7,038, with a volume of 2923400 shares. The stock had previously closed at GBX 6,802.

Wall Street Analyst Weigh In

RIO has been the subject of a number of recent research reports. JPMorgan Chase & Co. boosted 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. Berenberg Bank reiterated a “hold” rating and set a GBX 5,300 target price on shares of Rio Tinto Group in a research report on Wednesday, January 21st. Royal Bank Of Canada raised their price target 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. 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 research note on Monday, November 17th. One research analyst has rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of GBX 5,830.

Rio Tinto Group Trading Up 3.5%

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 firm has a 50-day moving average of GBX 6,008.51 and a two-hundred day moving average of GBX 5,274.33. The firm has a market capitalization of £114.36 billion, a P/E ratio of 11.21, a P/E/G ratio of -0.64 and a beta of 0.59.

Insider Activity

In other news, insider Peter Cunningham sold 3,108 shares of the company’s stock in a transaction that occurred on Tuesday, December 2nd. The stock was sold at an average price of GBX 5,464, for a total value of £169,821.12. Company 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.