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

Rio Tinto Group (LON:RIO) crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of GBX 7,271.83 and traded as high as GBX 7,723. Rio Tinto Group shares last traded at GBX 7,581, with a volume of 2,970,637 shares changing hands.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on RIO. Royal Bank Of Canada restated an “underperform” rating and issued a GBX 6,100 target price on shares of Rio Tinto Group in a report on Wednesday, July 29th. JPMorgan Chase & Co. reduced their price objective on Rio Tinto Group from GBX 8,270 to GBX 8,200 and set a “neutral” rating for the company in a research report on Tuesday, July 28th. Shore Capital Group decreased their target price on Rio Tinto Group from GBX 7,400 to GBX 6,900 and set a “hold” rating on the stock in a research report on Tuesday, June 2nd. Berenberg Bank upgraded shares of Rio Tinto Group from a “hold” rating to a “buy” rating and lifted their price target for the stock from GBX 8,100 to GBX 8,600 in a research note on Thursday, July 30th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a GBX 7,400 price objective on shares of Rio Tinto Group in a report on Thursday, July 30th. One equities research analyst has rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of GBX 7,707.14.

Rio Tinto Group Price Performance

The stock has a 50-day simple moving average of GBX 7,168.27 and a 200 day simple moving average of GBX 7,273.20. The company has a debt-to-equity ratio of 34.91, a quick ratio of 1.34 and a current ratio of 1.42. The stock has a market capitalization of £123.50 billion, a P/E ratio of 10.29, a price-to-earnings-growth ratio of -0.64 and a beta of 0.66.

Insider Activity at Rio Tinto Group

In related news, insider Peter Cunningham sold 4 shares of the business’s stock in a transaction that occurred on Friday, July 17th. The shares were sold at an average price of GBX 6,640, for a total transaction of £265.60. 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.