Peter Cunningham, an insider at Rio Tinto Group, sold four shares of the company on October 17, 2023, in a transaction valued at £203.28. The shares were sold at an average price of GBX 5,082 per share. This sale occurs amid a backdrop of varied performance for Rio Tinto’s stock, which saw a slight increase of 0.1% opening at GBX 5,305.64 on the same day.
Rio Tinto Group, with a market capitalization of £86.21 billion, maintains a price-to-earnings ratio of 8.45 and a PEG ratio of -0.64. The company’s stock has a beta of 0.59, indicating lower volatility compared to the market. Financial metrics show a debt-to-equity ratio of 25.28, a quick ratio of 1.34, and a current ratio of 1.70. Over the past year, the stock has fluctuated between a low of GBX 4,024.50 and a high of GBX 5,341.
Analyst Ratings and Market Insights
Recent research reports highlight varying perspectives on Rio Tinto’s stock. Berenberg Bank reiterated a “hold” rating with a price target of GBX 5,200 in a report issued on October 15. Meanwhile, Deutsche Bank Aktiengesellschaft lowered its rating to “hold” and adjusted their price target from GBX 5,300 to GBX 5,100 on July 30.
In contrast, JPMorgan Chase & Co. remains optimistic, reducing its price target from GBX 6,170 to GBX 6,100 while maintaining an “overweight” rating as of October 15. Additionally, the Royal Bank of Canada raised its price target from GBX 4,700 to GBX 4,900, assigning a “sector perform” rating on July 30. Currently, two analysts rate the stock as a Buy, while four have assigned it a Hold rating, resulting in a consensus rating of “Hold” with a target price of GBX 5,516.67.
About Rio Tinto Group
Rio Tinto operates in 35 countries and employs approximately 60,000 people, focusing on providing essential materials such as iron ore, copper, and aluminium. The company is committed to supporting communities and reducing carbon emissions as part of its sustainability efforts.
As financial markets continue to evolve, the activity of insiders like Peter Cunningham may provide additional insights into investor sentiment surrounding Rio Tinto’s stock performance. Interested individuals can subscribe to receive the latest news and analyst ratings for Rio Tinto Group through MarketBeat’s daily email newsletter.
