Rio Tinto Group (LON:RIO) Sets New 12-Month High – Should You Buy?

Rio Tinto Group (LON:RIO) shares reached a new 52-week high during trading on Tuesday . The stock traded as high as GBX 8,325 and last traded at GBX 8,051, with a volume of 3375354 shares changing hands. The stock had previously closed at GBX 7,968.

Analyst Ratings Changes

RIO has been the topic of several recent analyst reports. Berenberg Bank dropped their target price on Rio Tinto Group from GBX 6,700 to GBX 6,600 and set a “hold” rating on the stock in a research report on Wednesday, April 22nd. JPMorgan Chase & Co. upgraded Rio Tinto Group to a “neutral” rating and boosted their target price for the stock from GBX 7,200 to GBX 8,280 in a research report on Tuesday, May 26th. Citigroup boosted their target price on Rio Tinto Group from GBX 7,200 to GBX 7,600 and gave the stock a “neutral” rating in a research report on Tuesday, May 26th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a GBX 6,900 price target on shares of Rio Tinto Group in a report on Wednesday, April 22nd. Finally, Royal Bank Of Canada restated a “sector perform” rating and issued a GBX 6,400 price target on shares of Rio Tinto Group in a report on Friday, April 17th. Six analysts have rated the stock with a Hold rating, According to MarketBeat, Rio Tinto Group presently has a consensus rating of “Hold” and an average price target of GBX 7,113.33.

Rio Tinto Group Stock Up 1.0%

The company has a current ratio of 1.44, a quick ratio of 1.34 and a debt-to-equity ratio of 39.51. The firm has a market capitalization of £130.92 billion, a PE ratio of 13.23, a price-to-earnings-growth ratio of -0.64 and a beta of 0.63. The firm has a 50-day moving average of GBX 7,380.74 and a two-hundred day moving average of GBX 6,685.67.

Insider Transactions at Rio Tinto Group

In other news, insider Peter Cunningham sold 6 shares of the firm’s stock in a transaction dated Friday, April 17th. The stock was sold at an average price of GBX 7,311, for a total transaction of £438.66. Corporate insiders own 0.10% of the company’s stock.

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.