Rio Tinto Group (LON:RIO) Hits New 12-Month High After Analyst Upgrade

Rio Tinto Group (LON:RIO)’s share price reached a new 52-week high during trading on Thursday after JPMorgan Chase & Co. raised their price target on the stock from GBX 6,100 to GBX 6,950. JPMorgan Chase & Co. currently has an overweight rating on the stock. Rio Tinto Group traded as high as GBX 5,647.60 and last traded at GBX 5,494, with a volume of 3691344 shares traded. The stock had previously closed at GBX 5,504.

Several other brokerages have also recently weighed in on RIO. Berenberg Bank reissued a “hold” rating and set a GBX 5,200 price target on shares of Rio Tinto Group in a research report on Wednesday, October 15th. Citigroup upped their price objective on shares of 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, Royal Bank Of Canada cut their target price 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. One equities research analyst has rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, Rio Tinto Group presently has an average rating of “Hold” and a consensus price target of GBX 5,570.

Insider Buying and Selling

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

Rio Tinto Group Stock Up 0.1%

The stock’s 50 day simple moving average is GBX 5,252.18 and its two-hundred day simple moving average is GBX 4,757.08. The firm has a market cap of £89.35 billion, a P/E ratio of 8.76, 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.

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.