Rio Tinto Group (LON:RIO) Shares Cross Above Two Hundred Day Moving Average - Here's Why

Key Points

• Rio Tinto Group shares surpassed their 200-day moving average during trading, reaching a high of GBX 4,607 ($62.07).
• Equities analysts have mixed ratings for the stock, with target prices ranging from GBX 4,700 to GBX 5,450, reflecting an average Hold rating overall.
• The company's market cap stands at £74.72 billion, indicating significant size and influence within the commodities sector.

Rio Tinto Group (LON:RIO - Get Free Report) shares passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of GBX 4,515.24 ($60.84) and traded as high as GBX 4,607 ($62.07). Rio Tinto Group shares last traded at GBX 4,599 ($61.96), with a volume of 4,767,525 shares trading hands.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Royal Bank Of Canada lifted 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 lowered 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 reiterated a "hold" rating and issued a GBX 4,700 price target on shares of Rio Tinto Group in a report on Friday, August 1st. Finally, JPMorgan Chase & Co. decreased their price target on shares of Rio Tinto Group from GBX 5,570 to GBX 5,450 and set an "overweight" rating on the stock in a report on Thursday, July 31st. Two investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and an average target price of GBX 5,325.

Rio Tinto Group Price Performance

The company has a debt-to-equity ratio of 25.28, a quick ratio of 1.34 and a current ratio of 1.70. The firm has a market cap of £74.72 billion, a price-to-earnings ratio of 732.44, a price-to-earnings-growth ratio of -0.64 and a beta of 0.59. The company's fifty day moving average is GBX 4,573.46 and its two-hundred day moving average is GBX 4,515.24.

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.

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