Rio Tinto Group (LON:RIO) Shares Pass Above 200 Day Moving Average of $5,362.58

Shares of Rio Tinto Group (LON:RIO) crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of GBX 5,362.58 ($67.83) and traded as high as GBX 5,389 ($68.16). Rio Tinto Group shares last traded at GBX 5,359 ($67.78), with a volume of 1,177,058 shares traded.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on RIO. JPMorgan Chase & Co. cut their price target on shares of Rio Tinto Group from GBX 6,630 ($83.86) to GBX 6,610 ($83.61) and set an “overweight” rating on the stock in a research note on Thursday, April 18th. Bank of America reiterated a “buy” rating and issued a GBX 7,700 ($97.39) target price on shares of Rio Tinto Group in a report on Wednesday, June 26th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a GBX 6,200 ($78.42) price objective on shares of Rio Tinto Group in a report on Tuesday, June 18th. Barclays reiterated an “overweight” rating and set a GBX 6,000 ($75.89) target price on shares of Rio Tinto Group in a report on Tuesday, May 7th. Finally, Berenberg Bank lowered shares of Rio Tinto Group from a “buy” rating to a “hold” rating and cut their price target for the company from GBX 5,900 ($74.63) to GBX 5,800 ($73.36) in a report on Wednesday, June 26th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of GBX 6,313.75 ($79.86).

Rio Tinto Group Trading Down 0.2 %

The firm has a market cap of £66.86 billion, a price-to-earnings ratio of 1,116.46, a price-to-earnings-growth ratio of -0.64 and a beta of 0.63. The company has a quick ratio of 1.34, a current ratio of 1.69 and a debt-to-equity ratio of 25.47. The business has a 50 day moving average price of GBX 5,428.42 and a 200-day moving average price of GBX 5,362.58.

Rio Tinto Group Company Profile

Rio Tinto Group engages in exploring, mining, and processing mineral resources worldwide. The company operates through Iron Ore, Aluminium, Copper, and Minerals Segments. The Iron Ore segment engages in the iron ore mining, and salt and gypsum production in Western Australia. The Aluminum segment is involved in bauxite mining; alumina refining; and aluminium smelting.