Rio Tinto Group (LON:RIO) Stock Crosses Above 200 Day Moving Average – Here’s What Happened

Rio Tinto Group (LON:RIO) shares 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 trading hands.

Wall Street Analyst Weigh In

RIO has been the subject of a number of analyst reports. Berenberg Bank upgraded Rio Tinto Group from a “hold” rating to a “buy” rating and increased their price target for the stock from GBX 8,100 to GBX 8,600 in a research note on Thursday, July 30th. Shore Capital Group lowered their price objective on Rio Tinto Group from GBX 7,400 to GBX 6,900 and set a “hold” rating on the stock in a research report on Tuesday, June 2nd. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a GBX 7,400 price objective on shares of Rio Tinto Group in a research note on Thursday, July 30th. Royal Bank Of Canada reiterated an “underperform” rating and set a GBX 6,100 target price on shares of Rio Tinto Group in a research report on Wednesday, July 29th. Finally, Jefferies Financial Group reissued a “hold” rating and set a GBX 8,500 target price on shares of Rio Tinto Group in a research note on Tuesday, June 9th. One investment analyst has rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of GBX 7,707.14.

Rio Tinto Group Stock Up 0.1%

The company has a market capitalization of £121.38 billion, a PE ratio of 12.27, a PEG ratio of -0.64 and a beta of 0.65. The company’s 50 day moving average is GBX 7,250.49 and its two-hundred day moving average is GBX 7,183.85. The company has a quick ratio of 1.34, a current ratio of 1.42 and a debt-to-equity ratio of 34.91.

Insider Activity at Rio Tinto Group

In other news, insider Peter Cunningham sold 4 shares of the firm’s stock in a transaction dated Friday, July 17th. The stock was sold at an average price of GBX 6,640, for a total transaction of £265.60. 0.10% of the stock is owned by company 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.