Rio Tinto Group (LON:RIO) Reaches New 1-Year High – Still a Buy?

Rio Tinto Group (LON:RIO) shares reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as GBX 6,780 and last traded at GBX 6,718, with a volume of 1261902250 shares traded. The stock had previously closed at GBX 6,728.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Citigroup lifted their target price on shares of Rio Tinto Group from GBX 4,600 to GBX 5,700 and gave the company a “neutral” rating in a report on Monday, November 17th. Berenberg Bank reaffirmed a “hold” rating and issued a GBX 5,300 target price on shares of Rio Tinto Group in a research report on Wednesday, January 21st. Royal Bank Of Canada raised their target price on Rio Tinto Group from GBX 6,000 to GBX 6,100 and gave the company a “sector perform” rating in a report on Thursday, January 22nd. Finally, JPMorgan Chase & Co. upped their price target on Rio Tinto Group from GBX 6,100 to GBX 6,950 and gave the stock an “overweight” rating in a report on Wednesday, December 3rd. One research analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, Rio Tinto Group has a consensus rating of “Hold” and an average price target of GBX 5,830.

Rio Tinto Group Trading Down 0.1%

The company has a current ratio of 1.70, a quick ratio of 1.34 and a debt-to-equity ratio of 25.28. The business has a 50 day simple moving average of GBX 5,891.15 and a two-hundred day simple moving average of GBX 5,206.95. The stock has a market cap of £109.16 billion, a price-to-earnings ratio of 10.70, a price-to-earnings-growth ratio of -0.64 and a beta of 0.59.

Insider Transactions at Rio Tinto Group

In other Rio Tinto Group news, insider Peter Cunningham sold 3,108 shares of the stock in a transaction on Tuesday, December 2nd. The shares were sold at an average price of GBX 5,464, for a total transaction of £169,821.12. 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.