Rio Tinto Group (LON:RIO) Shares Pass Above 200 Day Moving Average - Here's What Happened

Key Points

• Rio Tinto shares moved above their 200-day moving average, reaching GBX 7,745 before last trading at GBX 7,666, up 0.2% with nearly 2 million shares changing hands.
• Analyst sentiment remains cautious: the stock has a consensus “Hold” rating from seven analysts, with an average price target of GBX 7,707.14. Targets range from GBX 6,100 to GBX 8,600.
• Rio Tinto has a £124.67 billion market capitalization and operates across 35 countries in commodities including iron ore, copper and aluminium; an insider recently sold four shares, while insiders own 0.10% of the company.

Rio Tinto Group (LON:RIO - Get Free Report) shares passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of GBX 7,245.86 and traded as high as GBX 7,745. Rio Tinto Group shares last traded at GBX 7,666, with a volume of 1,996,551 shares changing hands.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on RIO shares. Citigroup reduced their price objective on Rio Tinto Group from GBX 8,280 to GBX 8,250 and set a "neutral" rating for the company in a research report on Friday, July 10th. Shore Capital Group dropped 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. Royal Bank Of Canada restated an "underperform" rating and issued a GBX 6,100 target price on shares of Rio Tinto Group in a research note on Wednesday, July 29th. Jefferies Financial Group reaffirmed a "hold" rating and set a GBX 8,500 price target on shares of Rio Tinto Group in a research report on Tuesday, June 9th. Finally, Berenberg Bank raised shares of Rio Tinto Group from a "hold" rating to a "buy" rating and raised their price target for the stock from GBX 8,100 to GBX 8,600 in a research note on Thursday, July 30th. One analyst has rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of GBX 7,707.14.

Rio Tinto Group Trading Up 0.2%

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 firm has a fifty day moving average price of GBX 7,148.19 and a 200 day moving average price of GBX 7,245.86. The company has a market cap of £124.67 billion, a price-to-earnings ratio of 10.38, a P/E/G ratio of -0.64 and a beta of 0.66.

Insider Buying and Selling

In other news, insider Peter Cunningham sold 4 shares of Rio Tinto Group stock in a transaction dated Friday, July 17th. The shares were sold at an average price of GBX 6,640, for a total value 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.

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