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

Key Points

• Shares passed above their 200-day moving average, trading as high as GBX 7,232 and last at GBX 7,178.77 on a volume of 4,277,806 shares, signaling a technical breakout above the GBX 5,668.44 200-day MA.
• Analysts have raised price targets (e.g., JPMorgan to GBX 6,950, RBC to GBX 6,100), but the consensus remains a "Hold" with a consensus price target of GBX 5,830, which is below the current share price.
• Rio Tinto is a large-cap miner (market cap £143.30 billion) with a PE of 11.43, operating in 35 countries across iron ore, copper and aluminium and pursuing projects tied to the energy transition.

Rio Tinto Group (LON:RIO - Get Free Report) shares passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of GBX 5,668.44 and traded as high as GBX 7,232. Rio Tinto Group shares last traded at GBX 7,178.77, with a volume of 4,277,806 shares traded.

Analysts Set New Price Targets

Several research analysts have commented on RIO shares. Royal Bank Of Canada lifted their price target on shares of Rio Tinto Group from GBX 6,000 to GBX 6,100 and gave the stock a "sector perform" rating in a research note on Thursday, January 22nd. JPMorgan Chase & Co. lifted their target price on shares of Rio Tinto Group from GBX 6,100 to GBX 6,950 and gave the stock an "overweight" rating in a research report on Wednesday, December 3rd. Citigroup upped their price target on shares of Rio Tinto Group from GBX 4,600 to GBX 5,700 and gave the company a "neutral" rating in a research report on Monday, November 17th. Finally, Berenberg Bank reaffirmed a "hold" rating and set a GBX 5,300 price objective on shares of Rio Tinto Group in a research note on Wednesday, January 21st. One investment analyst has rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. Based on data from MarketBeat, Rio Tinto Group currently has a consensus rating of "Hold" and a consensus price target of GBX 5,830.

Rio Tinto Group Stock Up 1.1%

The firm has a market cap of £143.30 billion, a PE ratio of 11.43, a PEG ratio of -0.64 and a beta of 0.62. The company has a debt-to-equity ratio of 39.51, a quick ratio of 1.34 and a current ratio of 1.44. The company's 50-day simple moving average is GBX 6,698.06 and its two-hundred day simple moving average is GBX 5,668.44.

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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