Rio Tinto Group (LON:RIO) Shares Cross Above 200 Day Moving Average – Should You Sell?

Rio Tinto Group (LON:RIO)’s stock price crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of GBX 5,158.24 ($67.36) and traded as high as GBX 5,168 ($67.48). Rio Tinto Group shares last traded at GBX 5,134 ($67.04), with a volume of 1,562,684 shares.

Analyst Ratings Changes

Several analysts recently weighed in on RIO shares. Berenberg Bank reissued a “buy” rating and issued a GBX 6,200 ($80.96) price objective on shares of Rio Tinto Group in a research note on Tuesday. Bank of America reiterated a “buy” rating and issued a GBX 7,700 ($100.55) price target on shares of Rio Tinto Group in a research report on Wednesday, June 26th. JPMorgan Chase & Co. cut their price objective on Rio Tinto Group from GBX 6,500 ($84.88) to GBX 6,430 ($83.96) and set an “overweight” rating on the stock in a research note on Thursday, August 1st. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Rio Tinto Group from GBX 6,200 ($80.96) to GBX 6,000 ($78.35) and set a “buy” rating for the company in a research report on Monday, September 9th. Finally, Royal Bank of Canada restated a “sector perform” rating and set a GBX 5,700 ($74.43) price target on shares of Rio Tinto Group in a report on Thursday, August 1st. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of GBX 6,338.33 ($82.77).

Rio Tinto Group Stock Performance

The stock has a market capitalization of £62.99 billion, a price-to-earnings ratio of 999.80, a price-to-earnings-growth ratio of -0.64 and a beta of 0.59. The company has a 50 day simple moving average of GBX 4,904.51 and a 200-day simple moving average of GBX 5,157.61. The company has a quick ratio of 1.34, a current ratio of 1.70 and a debt-to-equity ratio of 25.01.

Rio Tinto Group Cuts Dividend

The business also recently announced a dividend, which was paid on Thursday, September 26th. Investors of record on Thursday, August 15th were given a dividend of $1.77 per share. The ex-dividend date was Thursday, August 15th. This represents a dividend yield of 2.79%. Rio Tinto Group’s payout ratio is presently 6,706.35%.

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.