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

Rio Tinto Group (LON:RIO) hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as GBX 7,575 and last traded at GBX 7,432, with a volume of 200815641 shares changing hands. The stock had previously closed at GBX 7,119.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. 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 company a “sector perform” rating in a research report on Thursday, January 22nd. Berenberg Bank reaffirmed a “hold” rating and set a GBX 5,300 price target on shares of Rio Tinto Group in a report on Wednesday, January 21st. One research analyst has rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, Rio Tinto Group presently has an average rating of “Hold” and a consensus price target of GBX 5,830.

Rio Tinto Group Price Performance

The company has a quick ratio of 1.34, a current ratio of 1.44 and a debt-to-equity ratio of 39.51. The firm has a market cap of £120.66 billion, a PE ratio of 12.20, a P/E/G ratio of -0.64 and a beta of 0.64. The firm’s fifty day simple moving average is GBX 6,933.93 and its two-hundred day simple moving average is GBX 6,038.10.

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.