Rio Tinto Group (NYSE:RIO) price on Friday, September 17, fall -3.88% below its previous day’s close as a downside momentum from buyers pushed the stock’s value to $67.42.
A look at the stock’s price movement, the level at last check in today’s session was $70.14, moving within a range at $69.82 and $71.80. The beta value (5-Year monthly) was 0.59 while the PE ratio in trailing twelve months stood at 6.09. Turning to its 52-week performance, $93.91 and $53.65 were the 52-week high and 52-week low respectively. Overall, RIO moved -8.71% over the past month.
Rio Tinto Group’s market cap currently stands at around $112.66 billion. The company has a Forward Dividend ratio of 6.85, with its dividend yield at 9.77%. As such, investors might be keen on an upside in the stock’s price ahead of the scheduled earnings report.
Revisions could be used as tool to get short term price movement insight, and for the company that in the past seven days was no upward and no downward review(s). Turning to the stock’s technical picture we see that short term indicators suggest on average that RIO is a 100% Sell. On the other hand, the stock is on average a 100% Sell as suggested by medium term indicators while long term indicators are putting the stock in 50% Sell category.
8 analyst(s) have given their forecast ratings for the stock on a scale of 1.00-5.00 for a strong buy to strong sell recommendation. A total of 2 analyst(s) rate the stock as a Hold, 5 recommend RIO as a Buy and 0 give it an Overweight rating. Meanwhile, 1 analyst(s) rate the stock as Underweight and 0 say it is a Sell. As such, the average rating for the stock is Overweight which could provide an opportunity for investors keen on increasing their holdings of the company’s stock.
The technical evaluation for the stock shows the PEG ratio is 1.90, with RIO’s current price about -8.83% and -14.63% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 29.19, while 7-day volatility ratio is 1.87% and 1.58% in the 30-day chart. Further, Rio Tinto Group (RIO) has a beta value of 0.67, and an average true range (ATR) of 1.83. Analysts have given the company’s stock an average 52-week price target of $108.91, forecast between a low of $90.00 and high of $124.00. Looking at the price targets, the low is -33.49% off recent price level in today’s trading while to achieve the yearly target high, it has to move -83.92%. Nonetheless, investors will most likely welcome a -64.37% jump to $110.82 which is the analysts’ median price.
In the market, a comparison of Rio Tinto Group (RIO) and its peers suggest the former has performed considerably weaker. Data shows RIO’s intraday price has changed -3.88% today and 11.69% over the past year. Comparatively, Freeport-McMoRan Inc. (FCX) has moved -3.78% so far today and only 104.41% in the past 12 months. Looking at another peer, we see that BHP Group (BBL) price has dipped -5.36% on the day. However, the stock is 18.23% off its price today a year ago. If we look at the PE ratio, we find that Rio Tinto Group’s ratio stands at 6.09 compared to Freeport-McMoRan Inc.’s 17.94 and BHP Group’s 12.30. Elsewhere, the overall performance for the S&P 500 and Dow Jones Industrial shows that the indexes are down -0.87% and -0.64% respectively on the day as seen in early trades.
If we refocus on Rio Tinto Group (NYSE:RIO), historical trading data shows that trading volumes averaged 3.61 million over the past 10 days and 2.47 million over the past 3 months. The company’s latest data on shares outstanding shows there are 1.62 billion shares.
The 6.50% of Rio Tinto Group’s shares are in the hands of company insiders while institutional holders own 8.60% of the company’s shares. Also important is the data on short interest which shows that short shares stood at 11.5 million on Aug 30, 2021, giving us a short ratio of 4.5. The data shows that as of Aug 30, 2021 short interest in Rio Tinto Group (RIO) stood at 0.71% of shares outstanding, with shares short falling to 12.08 million registered in Jul 29, 2021. Current price change has pushed the stock -3.72% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the RIO stock continues to rise going into the next quarter.