Rio Tinto Group (LON:RIO) Hits New 1-Year High – What’s Next?

Rio Tinto Group (LON:RIO) shares hit a new 52-week high on Monday . The stock traded as high as GBX 6,025 and last traded at GBX 5,948, with a volume of 17122100 shares. The stock had previously closed at GBX 5,982.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on RIO shares. Royal Bank Of Canada decreased their price objective on Rio Tinto Group from GBX 5,000 to GBX 4,900 and set a “sector perform” rating for the company in a research report on Monday, December 1st. Berenberg Bank restated a “hold” rating and set a GBX 5,200 price target on shares of Rio Tinto Group in a research note on Wednesday, October 15th. JPMorgan Chase & Co. lifted their price objective 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. Finally, Citigroup upped their price objective on shares of Rio Tinto Group from GBX 4,600 to GBX 5,700 and gave the stock a “neutral” rating in a research report on Monday, November 17th. One analyst has rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, Rio Tinto Group has a consensus rating of “Hold” and a consensus target price of GBX 5,570.

Rio Tinto Group Trading Down 0.5%

The company has a quick ratio of 1.34, a current ratio of 1.70 and a debt-to-equity ratio of 25.28. The business has a fifty day simple moving average of GBX 5,478.85 and a 200 day simple moving average of GBX 4,898.25. The company has a market cap of £96.68 billion, a price-to-earnings ratio of 9.48, a P/E/G ratio of -0.64 and a beta of 0.59.

Insider Activity

In related news, insider Peter Cunningham sold 3,108 shares of the firm’s stock in a transaction dated Tuesday, December 2nd. The shares were sold at an average price of GBX 5,464, for a total value of £169,821.12. 0.10% of the stock is owned by corporate insiders.

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.