Rio Tinto Group (LON:RIO) Stock Price Passes Above 200 Day Moving Average – What’s Next?

Rio Tinto Group (LON:RIO) crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of GBX 5,480.40 and traded as high as GBX 7,389. Rio Tinto Group shares last traded at GBX 7,389, with a volume of 3,126,256 shares traded.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on RIO shares. JPMorgan Chase & Co. boosted their price objective 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. Berenberg Bank restated a “hold” rating and issued a GBX 5,300 price objective on shares of Rio Tinto Group in a research note on Wednesday, January 21st. Citigroup raised 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 report on Monday, November 17th. Finally, Royal Bank Of Canada boosted their target price on Rio Tinto Group from GBX 6,000 to GBX 6,100 and gave the stock a “sector perform” rating in a report on Thursday, January 22nd. One equities research analyst has rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of GBX 5,830.

Rio Tinto Group Stock Down 3.5%

The company has a market cap of £142.27 billion, a price-to-earnings ratio of 11.35, 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 firm has a 50-day moving average price of GBX 6,407.12 and a 200 day moving average price of GBX 5,480.40.

Insider Buying and Selling

In other Rio Tinto Group news, insider Peter Cunningham sold 3,108 shares of the stock in a transaction on Tuesday, December 2nd. The stock was sold at an average price of GBX 5,464, for a total transaction of £169,821.12. 0.10% of the stock is currently owned by corporate insiders.

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.