Rio Tinto Group (LON:RIO) Stock Passes Above 200-Day Moving Average - Here's What Happened

Key Points

• Rio Tinto Group shares have surpassed their 200-day moving average, indicating positive momentum, with recent trading highs reaching GBX 4,609 ($62.01).
• Analysts currently present a mixed outlook on Rio Tinto Group, with a consensus rating of "Hold" and an average target price of GBX 5,325.
• The company boasts a market capitalization of £96.38 billion and a P/E ratio of 8.70, suggesting a favorable valuation compared to earnings.

Shares of Rio Tinto Group (LON:RIO - Get Free Report) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of GBX 4,556.15 ($61.30) and traded as high as GBX 4,609 ($62.01). Rio Tinto Group shares last traded at GBX 4,601 ($61.90), with a volume of 1,772,841 shares traded.

Analyst Ratings Changes

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

Rio Tinto Group Stock Performance

The stock has a market capitalization of £96.38 billion, a P/E ratio of 8.70, a price-to-earnings-growth ratio of -0.64 and a beta of 0.59. The company has a 50 day simple moving average of GBX 4,443.39 and a 200-day simple moving average of GBX 4,556.15. The company has a debt-to-equity ratio of 25.28, a current ratio of 1.70 and a quick ratio of 1.34.

About Rio Tinto Group

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