Rio Tinto Group (LON:RIO) Share Price Crosses Above 200-Day Moving Average – Here’s Why

Shares of Rio Tinto Group (LON:RIO) passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of GBX 5,836.39 and traded as high as GBX 6,430. Rio Tinto Group shares last traded at GBX 6,238, with a volume of 203,075,234 shares.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. JPMorgan Chase & Co. lifted their target price 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. Royal Bank Of Canada raised their price target on Rio Tinto Group from GBX 6,000 to GBX 6,100 and gave the stock a “sector perform” rating in a research report on Thursday, January 22nd. Finally, Berenberg Bank reaffirmed a “hold” rating and issued a GBX 5,300 price objective on shares of Rio Tinto Group in a research note on Wednesday, January 21st. One analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of GBX 5,830.

Rio Tinto Group Stock Down 1.6%

The company has a current ratio of 1.44, a quick ratio of 1.34 and a debt-to-equity ratio of 39.51. The firm has a 50 day simple moving average of GBX 6,843.95 and a two-hundred day simple moving average of GBX 5,836.39. The company has a market capitalization of £101.41 billion, a PE ratio of 10.25, a P/E/G ratio of -0.64 and a beta of 0.65.

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.