Rio Tinto Group (LON:RIO) Reaches New 12-Month High – What’s Next?

Shares of Rio Tinto Group (LON:RIO) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as GBX 8,325 and last traded at GBX 8,051, with a volume of 3375354 shares traded. The stock had previously closed at GBX 7,968.

Wall Street Analysts Forecast Growth

RIO has been the subject of a number of analyst reports. Shore Capital Group reduced their price target on Rio Tinto Group from GBX 7,400 to GBX 6,900 and set a “hold” rating for the company in a research report on Tuesday. Citigroup boosted their price objective on Rio Tinto Group from GBX 7,200 to GBX 7,600 and gave the stock a “neutral” rating in a research note on Tuesday, May 26th. Royal Bank Of Canada reissued a “sector perform” rating and issued a GBX 6,400 price objective on shares of Rio Tinto Group in a research note on Friday, April 17th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a GBX 6,900 price objective on shares of Rio Tinto Group in a research note on Wednesday, April 22nd. Finally, JPMorgan Chase & Co. raised Rio Tinto Group to a “neutral” rating and boosted their price objective for the stock from GBX 7,200 to GBX 8,280 in a research note on Tuesday, May 26th. Six equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of GBX 7,113.33.

Rio Tinto Group Stock Performance

The firm has a market capitalization of £128.63 billion, a PE ratio of 13.00, a P/E/G ratio of -0.64 and a beta of 0.63. The company has a debt-to-equity ratio of 39.51, a current ratio of 1.44 and a quick ratio of 1.34. The firm has a fifty day moving average price of GBX 7,456.23 and a 200 day moving average price of GBX 6,724.94.

Insider Activity at Rio Tinto Group

In other news, insider Peter Cunningham sold 6 shares of the company’s stock in a transaction on Friday, April 17th. The stock was sold at an average price of GBX 7,311, for a total transaction of £438.66. 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.