Rio Tinto Group (LON:RIO) Share Price Crosses Above 200 Day Moving Average – What’s Next?

Rio Tinto Group (LON:RIO) shares passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of GBX 5,374.68 and traded as high as GBX 7,087. Rio Tinto Group shares last traded at GBX 7,083, with a volume of 2,147,000,000 shares trading hands.

Wall Street Analysts Forecast Growth

RIO has been the subject of several research reports. Berenberg Bank reissued a “hold” rating and issued a GBX 5,300 target price on shares of Rio Tinto Group in a research note on Wednesday, January 21st. Royal Bank Of Canada upped their target price on shares of Rio Tinto Group from GBX 6,000 to GBX 6,100 and gave the company a “sector perform” rating in a research report on Thursday, January 22nd. Citigroup raised their target price on shares of Rio Tinto Group from GBX 4,600 to GBX 5,700 and gave the company a “neutral” rating in a research note on Monday, November 17th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Rio Tinto Group from GBX 6,100 to GBX 6,950 and gave the stock an “overweight” rating in a research note on Wednesday, December 3rd. One analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of GBX 5,830.

Rio Tinto Group Stock Performance

The stock has a market cap of £141.39 billion, a P/E ratio of 11.28, a price-to-earnings-growth ratio of -0.64 and a beta of 0.59. 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 stock’s 50 day simple moving average is GBX 6,202.19 and its two-hundred day simple moving average is GBX 5,374.68.

Insider Buying and Selling

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

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.