Rio Tinto Group (LON:RIO) Sets New 1-Year High – Time to Buy?

Rio Tinto Group (LON:RIO)’s share price reached a new 52-week high during mid-day trading on Thursday . The company traded as high as GBX 5,662 and last traded at GBX 5,362.17, with a volume of 15437804 shares. The stock had previously closed at GBX 5,307.

Wall Street Analyst Weigh In

RIO has been the subject of a number of recent research reports. Royal Bank Of Canada increased their target price on shares of Rio Tinto Group from GBX 4,700 to GBX 4,900 and gave the company a “sector perform” rating in a research report on Wednesday, July 30th. Berenberg Bank reiterated a “hold” rating and issued a GBX 5,200 price objective on shares of Rio Tinto Group in a report on Wednesday, October 15th. JPMorgan Chase & Co. decreased their target price on shares of Rio Tinto Group from GBX 6,170 to GBX 6,100 and set an “overweight” rating on the stock in a research note on Wednesday, October 15th. Citigroup upped 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 report on Monday. Finally, Deutsche Bank Aktiengesellschaft cut Rio Tinto Group to a “hold” rating and cut their price target for the company from GBX 5,300 to GBX 5,100 in a report on Wednesday, July 30th. Two equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of GBX 5,566.67.

Rio Tinto Group Trading Up 1.0%

The company has a 50 day moving average of GBX 5,074.40 and a 200-day moving average of GBX 4,688.66. The stock has a market cap of £87.12 billion, a price-to-earnings ratio of 8.54, a price-to-earnings-growth 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.

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.