Rio Tinto Group (LON:RIO) Hits New 52-Week High – Here’s Why

Shares of Rio Tinto Group (LON:RIO) hit a new 52-week high during trading on Monday . The stock traded as high as GBX 6,025 and last traded at GBX 5,948, with a volume of 17122100 shares changing hands. The stock had previously closed at GBX 5,982.

Analyst Ratings Changes

Several brokerages have recently issued reports on RIO. Royal Bank Of Canada reduced their price objective on Rio Tinto Group from GBX 5,000 to GBX 4,900 and set a “sector perform” rating on the stock in a research note on Monday, December 1st. Berenberg Bank reaffirmed a “hold” rating and issued a GBX 5,200 price target on shares of Rio Tinto Group in a research report on Wednesday, October 15th. Citigroup lifted their price objective on Rio Tinto Group from GBX 4,600 to GBX 5,700 and gave the company a “neutral” rating in a research note on Monday, November 17th. Finally, JPMorgan Chase & Co. upped their target price on shares of Rio Tinto Group from GBX 6,100 to GBX 6,950 and gave the stock an “overweight” rating in a research note on Wednesday, December 3rd. One research analyst has rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, Rio Tinto Group currently has an average rating of “Hold” and a consensus target price of GBX 5,570.

Rio Tinto Group Stock Down 0.5%

The firm has a 50-day moving average price of GBX 5,478.85 and a two-hundred day moving average price of GBX 4,898.25. The firm has a market cap of £96.68 billion, a price-to-earnings ratio of 9.48, a price-to-earnings-growth 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.

Insider Buying and Selling at Rio Tinto Group

In other Rio Tinto Group news, insider Peter Cunningham sold 3,108 shares of the company’s stock in a transaction on Tuesday, December 2nd. The shares were sold at an average price of GBX 5,464, for a total value of £169,821.12. Corporate insiders own 0.10% of the company’s stock.

Rio Tinto Group Company Profile

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.