Rio Tinto Group (LON:RIO) Sets New 1-Year High – Still a Buy?

Shares of Rio Tinto Group (LON:RIO) reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as GBX 6,476 and last traded at GBX 6,474, with a volume of 42271938 shares changing hands. The stock had previously closed at GBX 6,314.

Wall Street Analysts Forecast Growth

RIO has been the subject of a number of analyst reports. Berenberg Bank reissued a “hold” rating and set a GBX 5,200 price objective on shares of Rio Tinto Group in a research report on Wednesday, October 15th. Citigroup lifted their price target on shares of 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 dropped their price objective on shares of Rio Tinto Group from GBX 5,000 to GBX 4,900 and set a “sector perform” rating on the stock in a research report on Monday, December 1st. Finally, JPMorgan Chase & Co. raised 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 report on Wednesday, December 3rd. One investment analyst has rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of GBX 5,570.

Rio Tinto Group Trading Up 4.6%

The company has a quick ratio of 1.34, a current ratio of 1.70 and a debt-to-equity ratio of 25.28. The business’s fifty day simple moving average is GBX 5,768.34 and its two-hundred day simple moving average is GBX 5,127.68. The company has a market cap of £107.33 billion, a price-to-earnings ratio of 10.52, a PEG ratio of -0.64 and a beta of 0.59.

Insider Activity at Rio Tinto Group

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