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

Rio Tinto Group (LON:RIO) shares hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as GBX 5,948 and last traded at GBX 5,899.89, with a volume of 544931625 shares traded. The stock had previously closed at GBX 5,825.26.

Wall Street Analyst Weigh In

RIO has been the topic of a number of analyst reports. Citigroup increased their price target on shares of Rio Tinto Group from GBX 4,600 to GBX 5,700 and gave the company a “neutral” rating in a research report on Monday, November 17th. JPMorgan Chase & Co. increased their target price on shares of Rio Tinto Group from GBX 6,100 to GBX 6,950 and gave the stock an “overweight” rating in a report on Wednesday, December 3rd. Berenberg Bank reissued a “hold” rating and issued a GBX 5,200 price target on shares of Rio Tinto Group in a report on Wednesday, October 15th. Finally, Royal Bank Of Canada dropped their price objective on Rio Tinto Group from GBX 5,000 to GBX 4,900 and set a “sector perform” rating on the stock in a research note on Monday, December 1st. One analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of GBX 5,570.

Rio Tinto Group Price Performance

The company has a debt-to-equity ratio of 25.28, a current ratio of 1.70 and a quick ratio of 1.34. The company’s 50-day moving average price is GBX 5,443.20 and its 200-day moving average price is GBX 4,871.83. The company has a market cap of £97.20 billion, a P/E ratio of 9.53, a P/E/G ratio of -0.64 and a beta of 0.59.

Insider Activity

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