Rio Tinto Group (LON:RIO) Shares Pass Above Two Hundred Day Moving Average – Here’s What Happened

Shares of Rio Tinto Group (LON:RIO) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of GBX 6,873.22 and traded as high as GBX 7,983. Rio Tinto Group shares last traded at GBX 7,892, with a volume of 1,586,717,000 shares trading hands.

Analysts Set New Price Targets

A number of research analysts have issued reports on RIO shares. Royal Bank Of Canada reiterated a “sector perform” rating and issued a GBX 6,400 target price on shares of Rio Tinto Group in a research report on Friday, April 17th. JPMorgan Chase & Co. upgraded Rio Tinto Group to a “neutral” rating and lifted their target price for the company from GBX 7,200 to GBX 8,280 in a research report on Tuesday, May 26th. Jefferies Financial Group reiterated a “hold” rating and issued a GBX 8,500 target price on shares of Rio Tinto Group in a research report on Tuesday, June 9th. Berenberg Bank reiterated a “hold” rating and issued a GBX 6,600 target price on shares of Rio Tinto Group in a research report on Thursday, June 4th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a GBX 6,900 target price on shares of Rio Tinto Group in a research report on Wednesday, April 22nd. Seven investment analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of £177.97.

Rio Tinto Group Stock Performance

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 stock has a 50-day simple moving average of GBX 7,622.64 and a 200-day simple moving average of GBX 6,873.22. The stock has a market cap of £128.34 billion, a P/E ratio of 12.97, a PEG ratio of -0.64 and a beta of 0.65.

Insider Buying and Selling at Rio Tinto Group

In other news, insider Peter Cunningham sold 6 shares of the business’s stock in a transaction dated Friday, April 17th. The stock was sold at an average price of GBX 7,311, for a total transaction of £438.66. Company insiders own 0.10% of the company’s stock.

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.