Rio Tinto Group (LON:RIO) Shares Cross Above 200 Day Moving Average - Should You Sell?

Key Points

• Rio Tinto Group's shares have crossed above their 200-day moving average, indicating potential bullish momentum, with the stock currently trading at GBX 4,915 ($66.02).
• Wall Street analysts have a mixed outlook on the stock, with price targets ranging from GBX 4,700 to GBX 5,570 and an average rating of "Hold."
• The company's market capitalization stands at £79.40 billion, with a notably high P/E ratio of 778.31, reflecting investor sentiment and market conditions.

Rio Tinto Group (LON:RIO - Get Free Report)'s share price crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of GBX 4,511.80 ($60.60) and traded as high as GBX 4,932 ($66.25). Rio Tinto Group shares last traded at GBX 4,915 ($66.02), with a volume of 1,853,559 shares traded.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Royal Bank Of Canada upped their price target on shares of Rio Tinto Group from GBX 4,700 to GBX 4,900 and gave the company a "sector perform" rating in a report on Wednesday, July 30th. Deutsche Bank Aktiengesellschaft cut shares of Rio Tinto Group to a "hold" rating and decreased their price target for the company from GBX 5,300 to GBX 5,100 in a report on Wednesday, July 30th. Berenberg Bank restated a "hold" rating and issued a GBX 4,700 price objective on shares of Rio Tinto Group in a research note on Friday, August 1st. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Rio Tinto Group from GBX 5,570 to GBX 5,450 and set an "overweight" rating on the stock in a research note on Thursday, July 31st. Two equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of GBX 5,325.

Rio Tinto Group Stock Performance

The stock has a market capitalization of £79.40 billion, a P/E ratio of 778.31, a PEG ratio of -0.64 and a beta of 0.59. The firm has a 50-day moving average of GBX 4,615.15 and a 200 day moving average of GBX 4,511.80. The company has a quick ratio of 1.34, a current ratio of 1.70 and a debt-to-equity ratio of 25.28.

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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