Rio Tinto Group (LON:RIO) Sets New 1-Year High After Analyst Upgrade

Rio Tinto Group (LON:RIO - Get Free Report)'s stock price reached a new 52-week high during trading on Thursday after JPMorgan Chase & Co. raised their price target on the stock from GBX 6,100 to GBX 6,950. JPMorgan Chase & Co. currently has an overweight rating on the stock. Rio Tinto Group traded as high as GBX 5,647.60 and last traded at GBX 5,494, with a volume of 3691344 shares changing hands. The stock had previously closed at GBX 5,504.

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A number of other equities analysts also recently commented on RIO. Berenberg Bank restated a "hold" rating and set a GBX 5,200 price objective on shares of Rio Tinto Group in a research report on Wednesday, October 15th. Royal Bank Of Canada reduced their price objective on shares of Rio Tinto Group from GBX 5,000 to GBX 4,900 and set a "sector perform" rating for the company in a research report on Monday. Finally, Citigroup boosted their target price on Rio Tinto Group from GBX 4,600 to GBX 5,700 and gave the stock a "neutral" rating in a research report on Monday, November 17th. Two analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average target price of GBX 5,708.33.

Check Out Our Latest Stock Report on RIO

Insider Activity

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In related news, insider Peter Cunningham sold 3,108 shares of the firm's stock in a transaction that occurred on Tuesday, December 2nd. The shares were sold at an average price of GBX 5,464, for a total value of £169,821.12. 0.10% of the stock is owned by corporate insiders.

Rio Tinto Group Stock Down 0.2%

The firm's fifty day moving average is GBX 5,227.10 and its two-hundred day moving average is GBX 4,745.96. The firm has a market cap of £89.27 billion, a price-to-earnings ratio of 8.75, a P/E/G ratio of -0.64 and a beta of 0.59. The company has a debt-to-equity ratio of 25.28, a current ratio of 1.70 and a quick ratio of 1.34.

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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