Rio Tinto Group (LON:RIO) Reaches New 1-Year High – Here’s Why

Rio Tinto Group (LON:RIO) reached a new 52-week high during trading on Wednesday . The stock traded as high as GBX 8,275 and last traded at GBX 8,272, with a volume of 3096133 shares. The stock had previously closed at GBX 7,920.

Analysts Set New Price Targets

RIO has been the subject of several recent analyst reports. JPMorgan Chase & Co. raised their price objective on shares of Rio Tinto Group from GBX 7,030 to GBX 7,200 and gave the stock a “neutral” rating in a research report on Wednesday, April 22nd. Berenberg Bank decreased their target price on shares of Rio Tinto Group from GBX 6,700 to GBX 6,600 and set a “hold” rating on the stock in a report on Wednesday, April 22nd. Royal Bank Of Canada reissued a “sector perform” rating and issued a GBX 6,400 price target on shares of Rio Tinto Group in a research note on Friday, April 17th. Citigroup lifted their price target on shares of Rio Tinto Group from GBX 7,000 to GBX 7,200 and gave the company a “neutral” rating in a research report on Monday, April 13th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a GBX 6,900 price objective on shares of Rio Tinto Group in a report on Wednesday, April 22nd. Five equities research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of GBX 6,860.

Rio Tinto Group Stock Up 4.4%

The stock has a market capitalization of £134.52 billion, a price-to-earnings ratio of 13.60, a P/E/G ratio of -0.64 and a beta of 0.63. The business has a 50-day moving average of GBX 7,086.21 and a 200-day moving average of GBX 6,437.47. The company has a debt-to-equity ratio of 39.51, a quick ratio of 1.34 and a current ratio of 1.44.

Insider Buying and Selling at Rio Tinto Group

In other news, insider Peter Cunningham sold 6 shares of the business’s stock in a transaction that occurred on Friday, April 17th. The shares were sold at an average price of GBX 7,311, for a total value of £438.66. 0.10% of the stock is currently 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.