Peter Cunningham, an insider at the Rio Tinto Group, sold four shares of the company on October 17, 2023, generating a total of £203.28. The shares were sold at an average price of GBX 5,082. This transaction comes as the company’s stock witnessed a modest increase of 0.1%, opening at GBX 5,305.64 on the same day.
Rio Tinto Group, a major player in the mining sector, currently holds a market capitalization of £86.21 billion. The company’s financial metrics indicate a price-to-earnings ratio of 8.45, a negative PEG ratio of -0.64, and a beta value of 0.59. Furthermore, the firm’s debt-to-equity ratio stands at 25.28, with a quick ratio of 1.34 and a current ratio of 1.70. The stock has demonstrated a fifty-day moving average price of GBX 4,795.38 and a two-hundred-day moving average of GBX 4,564.76. Over the past year, Rio Tinto’s shares have fluctuated between a low of GBX 4,024.50 and a high of GBX 5,341.
Analysts Weigh In on Rio Tinto’s Performance
Recent analyst reports provide insight into the company’s stock performance. On October 15, 2023, Berenberg Bank reaffirmed a “hold” rating for Rio Tinto shares, setting a price objective of GBX 5,200. A few days earlier, Deutsche Bank Aktiengesellschaft also downgraded their rating to “hold,” adjusting their price target from GBX 5,300 to GBX 5,100.
Additionally, JPMorgan Chase & Co. reduced their target from GBX 6,170 to GBX 6,100, while maintaining an “overweight” rating on the stock. In contrast, Royal Bank Of Canada raised their price target from GBX 4,700 to GBX 4,900, assigning a “sector perform” rating.
Overall, two investment analysts have issued a Buy rating for the stock, while four have deemed it a Hold. According to MarketBeat, the consensus rating for Rio Tinto currently stands at “Hold,” with an average target price of GBX 5,516.67.
About Rio Tinto Group
Operating in 35 countries, Rio Tinto employs around 60,000 people focused on providing essential materials for global development. The company’s portfolio includes iron ore, copper, aluminium, and various other minerals that are critical for communities and nations aiming for sustainable growth and carbon neutrality.
As Rio Tinto continues to navigate the complexities of the global market, stakeholders will be keeping a close eye on insider activities, stock performance, and analyst recommendations to gauge the company’s future trajectory.
