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

Rio Tinto Group (LON:RIO - Get Free Report)'s share price crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of GBX 5,148.25 ($67.02) and traded as high as GBX 5,188 ($67.53). Rio Tinto Group shares last traded at GBX 4,946 ($64.38), with a volume of 3,295,334 shares traded.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on RIO shares. Berenberg Bank reaffirmed a "buy" rating and issued a GBX 6,200 ($80.71) price target on shares of Rio Tinto Group in a research report on Tuesday, October 15th. Deutsche Bank Aktiengesellschaft lowered their target price on Rio Tinto Group from GBX 6,200 ($80.71) to GBX 6,000 ($78.10) and set a "buy" rating on the stock in a report on Monday, September 9th. JPMorgan Chase & Co. cut their price target on Rio Tinto Group from GBX 6,500 ($84.61) to GBX 6,430 ($83.70) and set an "overweight" rating for the company in a report on Thursday, August 1st. Finally, Royal Bank of Canada restated a "sector perform" rating and issued a GBX 5,700 ($74.20) price objective on shares of Rio Tinto Group in a research note on Thursday, August 1st. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of GBX 6,338.33 ($82.51).

Rio Tinto Group Price Performance

The company has a market cap of £61.83 billion, a price-to-earnings ratio of 981.35, a price-to-earnings-growth ratio of -0.64 and a beta of 0.59. The company has a current ratio of 1.70, a quick ratio of 1.34 and a debt-to-equity ratio of 25.01. The company has a fifty day moving average price of GBX 4,952.37 and a two-hundred day moving average price of GBX 5,148.25.

Insider Buying and Selling

In other Rio Tinto Group news, insider Simon Henry acquired 200 shares of the company's stock in a transaction dated Wednesday, October 23rd. The stock was bought at an average price of GBX 4,956 ($64.51) per share, for a total transaction of £9,912 ($12,902.89). 14.62% of the stock is owned by company insiders.

About Rio Tinto Group

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.