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

Rio Tinto Group (LON:RIO)’s share price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of GBX 6,958.35 and traded as high as GBX 7,314. Rio Tinto Group shares last traded at GBX 7,163, with a volume of 942,265,938 shares traded.

Analysts Set New Price Targets

Several research firms recently commented on RIO. JPMorgan Chase & Co. raised Rio Tinto Group to a “neutral” rating and boosted their price target for the stock from GBX 7,200 to GBX 8,280 in a research report on Tuesday, May 26th. Jefferies Financial Group reaffirmed a “hold” rating and set a GBX 8,500 price target on shares of Rio Tinto Group in a research report on Tuesday, June 9th. Citigroup boosted their target price on shares of Rio Tinto Group from £760 to £810 and gave the company a “neutral” rating in a research note on Monday, June 8th. Shore Capital Group lowered their target price on Rio Tinto Group from GBX 7,400 to GBX 6,900 and set a “hold” rating for the company in a report on Tuesday, June 2nd. Finally, Royal Bank Of Canada reiterated a “sector perform” rating and issued a GBX 6,400 price objective on shares of Rio Tinto Group in a research report on Friday, April 17th. Seven research analysts have rated the stock with a Hold rating, According to MarketBeat.com, Rio Tinto Group has a consensus rating of “Hold” and an average price target of £177.97.

Rio Tinto Group Trading Down 1.4%

The company has a debt-to-equity ratio of 37.79, a quick ratio of 1.34 and a current ratio of 1.44. The firm has a market capitalization of £116.49 billion, a P/E ratio of 11.77, a price-to-earnings-growth ratio of -0.64 and a beta of 0.65. The firm has a 50 day moving average price of GBX 7,647.89 and a two-hundred day moving average price of GBX 6,958.35.

Insider Activity at Rio Tinto Group

In related news, insider Peter Cunningham sold 6 shares of the stock in a transaction on Friday, April 17th. The stock was sold at an average price of GBX 7,311, for a total value of £438.66. 0.10% of the stock is currently owned by corporate 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.