Rio Tinto Group (LON:RIO) Reaches New 12-Month High on Analyst Upgrade

Rio Tinto Group (LON:RIO) reached a new 52-week high during mid-day trading on Thursday after JPMorgan Chase & Co. raised their price target on the stock from GBX 6,100 to GBX 6,950. JPMorgan Chase & Co. currently has an overweight rating on the stock. Rio Tinto Group traded as high as GBX 5,647.60 and last traded at GBX 5,494, with a volume of 3691344 shares. The stock had previously closed at GBX 5,504.

Several other analysts have also recently commented on the company. Berenberg Bank restated a “hold” rating and set a GBX 5,200 target price on shares of Rio Tinto Group in a report on Wednesday, October 15th. Royal Bank Of Canada dropped their target price on shares of Rio Tinto Group from GBX 5,000 to GBX 4,900 and set a “sector perform” rating for the company in a research note on Monday. Finally, Citigroup upped their target price on shares of Rio Tinto Group from GBX 4,600 to GBX 5,700 and gave the stock a “neutral” rating in a research report on Monday, November 17th. Two investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of GBX 5,708.33.

Insiders Place Their Bets

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

Rio Tinto Group Price Performance

The firm has a market capitalization of £89.27 billion, a price-to-earnings ratio of 8.75, a price-to-earnings-growth ratio of -0.64 and a beta of 0.59. The business has a fifty day moving average of GBX 5,238.66 and a two-hundred day moving average of GBX 4,751.15. The company has a debt-to-equity ratio of 25.28, a quick ratio of 1.34 and a current ratio of 1.70.

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.