Rio Tinto Group (LON:RIO) Reaches New 12-Month High - Here's Why

Key Points

• The Rio Tinto Group stock reached a new 52-week high, trading at GBX 5,286 ($70.68) on Wednesday, with a significant trading volume of over 72 million shares.
• Several analysts have downgraded their price targets for the stock, with JPMorgan Chase lowering theirs from GBX 6,170 to GBX 6,100, while Deutsche Bank reduced it to GBX 5,100.
• The company's current market capitalization stands at £84.47 billion with a PE ratio of 8.28, reflecting its financial health in the industry.

Rio Tinto Group (LON:RIO - Get Free Report) shares reached a new 52-week high on Wednesday . The stock traded as high as GBX 5,286 ($70.68) and last traded at GBX 5,277.16 ($70.56), with a volume of 72262852 shares trading hands. The stock had previously closed at GBX 5,097 ($68.15).

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on RIO shares. JPMorgan Chase & Co. cut their target price on shares of Rio Tinto Group from GBX 6,170 to GBX 6,100 and set an "overweight" rating on the stock in a research report on Wednesday, October 15th. Deutsche Bank Aktiengesellschaft cut Rio Tinto Group to a "hold" rating and decreased their price objective for the stock from GBX 5,300 to GBX 5,100 in a research note on Wednesday, July 30th. Royal Bank Of Canada increased their target price on Rio Tinto Group from GBX 4,700 to GBX 4,900 and gave the company a "sector perform" rating in a research note on Wednesday, July 30th. Finally, Berenberg Bank reiterated a "hold" rating and issued a GBX 5,200 price target on shares of Rio Tinto Group in a research report on Wednesday, October 15th. Two research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of GBX 5,516.67.

Rio Tinto Group Trading Up 2.0%

The firm has a fifty day simple moving average of GBX 4,752.90 and a two-hundred day simple moving average of GBX 4,545.99. The company has a current ratio of 1.70, a quick ratio of 1.34 and a debt-to-equity ratio of 25.28. The firm has a market cap of £84.47 billion, a PE ratio of 8.28, a PEG ratio of -0.64 and a beta of 0.59.

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.

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