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

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

Analyst Ratings Changes

Several equities analysts recently commented on the company. JPMorgan Chase & Co. boosted 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 report on Wednesday, December 3rd. Citigroup lifted their price objective on shares of 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. Royal Bank Of Canada boosted their target price on shares of 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, Berenberg Bank restated a “hold” rating and issued a GBX 5,300 target price on shares of Rio Tinto Group in a research note on Wednesday, January 21st. One investment analyst has rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of GBX 5,830.

Rio Tinto Group Stock Up 2.9%

The firm has a fifty day simple moving average of GBX 6,529.16 and a 200-day simple moving average of GBX 5,562.05. The company has a market capitalization of £149.37 billion, a PE 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.

Insider Activity

In related news, insider Peter Cunningham sold 3,108 shares of Rio Tinto Group stock in a transaction on Tuesday, December 2nd. The shares were 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.