Rio Tinto Group (LON:RIO) Share Price Passes Above Two Hundred Day Moving Average – Time to Sell?

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.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Citigroup increased their target price on Rio Tinto Group from GBX 4,600 to GBX 5,700 and gave the stock a “neutral” rating in a research note on Monday, November 17th. Royal Bank Of Canada raised their price objective on shares of 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. JPMorgan Chase & Co. boosted their price objective on shares of Rio Tinto Group from GBX 6,100 to GBX 6,950 and gave the company an “overweight” rating in a research report on Wednesday, December 3rd. Finally, Berenberg Bank reiterated a “hold” rating and set a GBX 5,300 target price on shares of Rio Tinto Group in a report on Wednesday, January 21st. One research analyst has rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of GBX 5,830.

Rio Tinto Group Price Performance

The firm has a market cap of £142.27 billion, a price-to-earnings ratio of 11.35, a PEG ratio of -0.64 and a beta of 0.59. The company’s fifty day moving average is GBX 6,407.12 and its 200 day moving average is GBX 5,480.40. The company has a quick ratio of 1.34, a current ratio of 1.70 and a debt-to-equity ratio of 25.28.

Insider Buying and Selling at Rio Tinto Group

In related news, insider Peter Cunningham sold 3,108 shares of Rio Tinto Group stock in a transaction dated Tuesday, December 2nd. The stock was 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 insiders.

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. 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.