Rio Tinto Group (LON:RIO) Hits New 1-Year High – Should You Buy?

Rio Tinto Group (LON:RIOGet Free Report)’s share price reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as GBX 5,286 ($70.68) and last traded at GBX 5,277.16 ($70.56), with a volume of 72262852 shares. The stock had previously closed at GBX 5,097 ($68.15).

Analyst Ratings Changes

A number of equities research analysts have weighed in on RIO shares. Deutsche Bank Aktiengesellschaft cut shares of Rio Tinto Group to a “hold” rating and dropped their price target for the company from GBX 5,300 to GBX 5,100 in a research report on Wednesday, July 30th. JPMorgan Chase & Co. cut their target price on shares of Rio Tinto Group from GBX 6,170 to GBX 6,100 and set an “overweight” rating on the stock in a research note on Wednesday, October 15th. Royal Bank Of Canada increased their price target on Rio Tinto Group from GBX 4,700 to GBX 4,900 and gave the company a “sector perform” rating in a research report on Wednesday, July 30th. Finally, Berenberg Bank reiterated a “hold” rating and set a GBX 5,200 target price on shares of Rio Tinto Group in a research note on Wednesday, October 15th. Two analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of GBX 5,516.67.

Read Our Latest Research Report on Rio Tinto Group

Rio Tinto Group Trading Up 2.0%

The stock has a market cap of £84.47 billion, a PE ratio of 8.28, a PEG ratio of -0.64 and a beta of 0.59. The company has a debt-to-equity ratio of 25.28, a quick ratio of 1.34 and a current ratio of 1.70. The business has a 50-day moving average of GBX 4,752.90 and a 200 day moving average of GBX 4,545.99.

About Rio Tinto Group

(Get Free Report)

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.

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