Rio Tinto Group (LON:RIO) Stock Price Passes Above Two Hundred Day Moving Average – What’s Next?

Shares of Rio Tinto Group (LON:RIO) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of GBX 4,595.64 and traded as high as GBX 5,565. Rio Tinto Group shares last traded at GBX 5,559, with a volume of 28,912,059 shares.

Wall Street Analysts Forecast Growth

RIO has been the subject of a number of analyst reports. Royal Bank Of Canada boosted their price target on Rio Tinto Group from GBX 4,700 to GBX 4,900 and gave the stock a “sector perform” rating in a report on Wednesday, July 30th. Berenberg Bank reissued a “hold” rating and issued a GBX 5,200 price target on shares of Rio Tinto Group in a report on Wednesday, October 15th. Deutsche Bank Aktiengesellschaft cut Rio Tinto Group to a “hold” rating and cut their price target for the stock from GBX 5,300 to GBX 5,100 in a report on Wednesday, July 30th. Finally, JPMorgan Chase & Co. cut their price target on Rio Tinto Group from GBX 6,170 to GBX 6,100 and set an “overweight” rating for the company in a report on Wednesday, October 15th. Two research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of GBX 5,516.67.

Rio Tinto Group Stock Performance

The firm has a market cap of £89.15 billion, a PE ratio of 8.74, a P/E/G ratio of -0.64 and a beta of 0.59. The company has a debt-to-equity ratio of 25.28, a current ratio of 1.70 and a quick ratio of 1.34. The stock has a 50-day moving average price of GBX 4,853.11 and a 200 day moving average price of GBX 4,595.64.

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.