Rio Tinto Group (LON:RIO) Shares Pass Above Two Hundred Day Moving Average - Should You Sell?

Key Points

• Rio Tinto shares climbed above their 200-day moving average (GBX 6,303.93), trading as high as GBX 7,383 and last at GBX 7,225 on volume of about 1.26 million shares.
• Analysts collectively rate the stock a consensus Hold with a consensus target of GBX 6,860—below the current price—after recent target adjustments in the GBX 6,400–7,200 range.
• The company has a market capitalization of £117.17 billion and a P/E of 11.84, while insiders own just 0.10% and recently recorded a very small sale, indicating limited insider activity.

Rio Tinto Group (LON:RIO - Get Free Report) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of GBX 6,303.93 and traded as high as GBX 7,383. Rio Tinto Group shares last traded at GBX 7,225, with a volume of 1,262,430 shares changing hands.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. Citigroup increased their target price 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. Royal Bank Of Canada reissued a "sector perform" rating and issued a GBX 6,400 target price on shares of Rio Tinto Group in a report on Friday, April 17th. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and set a GBX 6,900 price target on shares of Rio Tinto Group in a report on Wednesday, April 22nd. JPMorgan Chase & Co. increased their price target on shares of Rio Tinto Group from GBX 7,030 to GBX 7,200 and gave the stock a "neutral" rating in a research report on Wednesday, April 22nd. Finally, Berenberg Bank decreased their price objective on shares of Rio Tinto Group from GBX 6,700 to GBX 6,600 and set a "hold" rating on the stock in a research note on Wednesday, April 22nd. Five analysts have rated the stock with a Hold rating, According to MarketBeat, Rio Tinto Group currently has a consensus rating of "Hold" and a consensus target price of GBX 6,860.

Rio Tinto Group Trading Down 0.3%

The company has a market capitalization of £117.17 billion, a price-to-earnings ratio of 11.84, a P/E/G ratio of -0.64 and a beta of 0.64. 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's 50 day moving average price is GBX 7,029.15 and its two-hundred day moving average price is GBX 6,303.93.

Insiders Place Their Bets

In other Rio Tinto Group news, insider Peter Cunningham sold 6 shares of the business's stock in a transaction on Friday, April 17th. The shares were sold at an average price of GBX 7,311, for a total transaction of £438.66. 0.10% of the stock is owned by corporate insiders.

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. 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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