Rio Tinto Group (LON:RIO) Shares Cross Above Two Hundred Day Moving Average - What's Next?

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.

Rio Tinto Group (LON:RIO - Get Free Report) shares crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of GBX 4,556.15 ($61.53) and traded as high as GBX 4,609 ($62.24). Rio Tinto Group shares last traded at GBX 4,601 ($62.13), with a volume of 1,772,841 shares traded.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Deutsche Bank Aktiengesellschaft lowered Rio Tinto Group to a "hold" rating and cut their price target 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 target 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. Royal Bank Of Canada lifted their price target 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. Finally, Berenberg Bank reaffirmed a "hold" rating and set a GBX 4,700 price objective on shares of Rio Tinto Group in a research report on Friday, August 1st. Two research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target 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 company has a 50-day simple moving average of GBX 4,475.68 and a 200-day simple moving average of GBX 4,545.21. The company has a market cap of £75.42 billion, a price-to-earnings ratio of 739.29, a PEG ratio of -0.64 and a beta of 0.59.

Rio Tinto Group Company Profile