Rio Tinto Group (LON:RIO) Stock Price Passes Above Two Hundred Day Moving Average on Analyst Downgrade

Rio Tinto Group (LON:RIO - Get Free Report) shares crossed above its two hundred day moving average during trading on Wednesday after Berenberg Bank raised their price target on the stock from GBX 4,700 to GBX 5,200. The stock has a two hundred day moving average of GBX 4,529.41 ($60.72) and traded as high as GBX 5,157 ($69.13). Berenberg Bank currently has a buy rating on the stock. Rio Tinto Group shares last traded at GBX 5,141 ($68.91), with a volume of 1,955,412 shares traded.

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Several other analysts have also recently commented on RIO. Royal Bank Of Canada raised their target price on Rio Tinto Group from GBX 4,700 to GBX 4,900 and gave the company a "sector perform" rating in a research report on Wednesday, July 30th. JPMorgan Chase & Co. decreased their target price 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, Deutsche Bank Aktiengesellschaft cut shares of Rio Tinto Group to a "hold" rating and dropped their price objective for the stock from GBX 5,300 to GBX 5,100 in a research report on Wednesday, July 30th. Two investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, Rio Tinto Group presently has a consensus rating of "Hold" and an average price target of GBX 5,516.67.

Read Our Latest Analysis on RIO

Rio Tinto Group Trading Up 1.2%

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The company has a debt-to-equity ratio of 25.28, a current ratio of 1.70 and a quick ratio of 1.34. The firm has a market cap of £83.53 billion, a price-to-earnings ratio of 818.76, a price-to-earnings-growth ratio of -0.64 and a beta of 0.59. The firm's fifty day moving average is GBX 4,710.27 and its 200-day moving average is GBX 4,529.41.

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.

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