Rio Tinto Group (LON:RIO) Share Price Crosses Above Two Hundred Day Moving Average – Time to Sell?

Rio Tinto Group (LON:RIO)’s share price passed 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 Analysts Forecast Growth

A number of research firms recently weighed in on RIO. JPMorgan Chase & Co. lowered their price objective on shares of Rio Tinto Group from GBX 8,270 to GBX 8,200 and set a “neutral” rating for the company in a research report on Tuesday, July 28th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a GBX 7,400 target price on shares of Rio Tinto Group in a research report on Thursday, July 30th. Citigroup decreased their price target on Rio Tinto Group from GBX 8,280 to GBX 8,250 and set a “neutral” rating on the stock in a research note on Friday, July 10th. Shore Capital Group lowered their price target on Rio Tinto Group from GBX 7,400 to GBX 6,900 and set a “hold” rating for the company in a research report on Tuesday, June 2nd. Finally, Jefferies Financial Group reaffirmed a “hold” rating and issued a GBX 8,500 price objective on shares of Rio Tinto Group in a research note on Tuesday, June 9th. One analyst has rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of GBX 7,707.14.

Rio Tinto Group Stock Up 0.7%

The company has a quick ratio of 1.34, a current ratio of 1.42 and a debt-to-equity ratio of 34.91. The stock has a market cap of £122.15 billion, a price-to-earnings ratio of 10.17, a PEG ratio of -0.64 and a beta of 0.65. The business’s fifty day moving average is GBX 7,241.35 and its two-hundred day moving average is GBX 7,186.14.

Insider Buying and Selling

In other Rio Tinto Group news, insider Peter Cunningham sold 4 shares of the firm’s stock in a transaction that occurred on Friday, July 17th. The shares were sold at an average price of GBX 6,640, for a total value of £265.60. 0.10% of the stock is owned by corporate 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.