Rio Tinto Group (LON:RIO) Reaches New 1-Year High - Here's Why

Key Points

• Rio Tinto hit a new 52‑week high, trading as high as GBX 7,615 and last at GBX 7,609 on heavy volume (87,170,578) as the stock was up roughly 3.8%.
• Analysts maintain an overall "Hold" rating with an average price target of GBX 6,860; JPMorgan and Citi raised targets to GBX 7,200 but the consensus target remains below the current share price.
• Key fundamentals: market cap £124.5 billion and a P/E of 12.6, with the 50‑day (GBX 7,038) and 200‑day (GBX 6,344) moving averages pointing to recent upward momentum.

Rio Tinto Group (LON:RIO - Get Free Report) shares reached a new 52-week high on Wednesday . The company traded as high as GBX 7,615 and last traded at GBX 7,609, with a volume of 87170578 shares traded. The stock had previously closed at GBX 7,377.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on RIO shares. Royal Bank Of Canada restated a "sector perform" rating and issued a GBX 6,400 price target on shares of Rio Tinto Group in a report on Friday, April 17th. JPMorgan Chase & Co. upped their price target on Rio Tinto Group from GBX 7,030 to GBX 7,200 and gave the stock a "neutral" rating in a report on Wednesday, April 22nd. Citigroup upped their price target on Rio Tinto Group from GBX 7,000 to GBX 7,200 and gave the stock a "neutral" rating in a report on Monday, April 13th. Berenberg Bank lowered their price target on Rio Tinto Group from GBX 6,700 to GBX 6,600 and set a "hold" rating on the stock in a report on Wednesday, April 22nd. Finally, Deutsche Bank Aktiengesellschaft restated a "hold" rating and issued a GBX 6,900 price target on shares of Rio Tinto Group in a report on Wednesday, April 22nd. Five investment analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of GBX 6,860.

Rio Tinto Group Trading Up 3.8%

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 business has a 50 day moving average of GBX 7,038.21 and a 200-day moving average of GBX 6,344.01. The stock has a market cap of £124.53 billion, a PE ratio of 12.59, a price-to-earnings-growth ratio of -0.64 and a beta of 0.63.

Insider Transactions at Rio Tinto Group

In related news, insider Peter Cunningham sold 6 shares of the company's stock in a transaction that occurred on Friday, April 17th. The stock was sold at an average price of GBX 7,311, for a total value of £438.66. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.