The trading price of Rio Tinto Group (NYSE:RIO) floating lower at last check on Wednesday, August 03, closing at $58.93, -0.62% lower than its previous close.
Traders who pay close attention to intraday price movement should know that it has been fluctuating between $58.82 and $60.13. The company’s P/E ratio in the trailing 12-month period was 5.46, while its 5Y monthly beta was 0.67. In examining the 52-week price action we see that the stock hit a 52-week high of $86.77 and a 52-week low of $53.83. Over the past month, the stock has lost -0.89% in value.
Rio Tinto Group, whose market valuation is $96.37 billion at the time of this writing. The dividend yield on the company stock is 17.88%, while its Forward Dividend ratio is 10.60. Investors’ optimism about the company’s current quarter earnings report is understandable.
A company’s earnings reviews provide a brief indication of a stock’s direction in the short term, where in the case of Rio Tinto Group No upward and no downward comments were posted in the last 7 days. On the technical side, indicators suggest RIO has a 50% Sell on average for the short term. According to the data of the stock’s medium term indicators, the stock is currently averaging as a 100% Sell, while an average of long term indicators suggests that the stock is currently 100% Sell.
Here is the average analyst rating on the stock as represented by 1.00 to 5.00, with the extremes of 1.00 and 5.00 suggesting the stock should be considered as either strong buy or strong sell respectively. The number of analysts that have assigned RIO a recommendation rating is 7. Out of them, 3 rate it a Hold, while 3 recommend Buy, whereas 1 assign an Overweight rating. 0 analyst(s) have tagged Rio Tinto Group (RIO) as Underweight, while 0 advise Sell. Analysts have rated the stock Overweight, likely urging investors to take advantage of the opportunity to add to their holdings of the company’s shares.
A quick review shows that RIO’s price is currently 1.24% off the SMA20 and -8.62% off the SMA50. The RSI metric on the 14-day chart is currently showing 44.92, and weekly volatility stands at 2.55%. When measured over the past 30 days, the indicator reaches 2.24%. Rio Tinto Group (NYSE:RIO)’s beta value is currently sitting at 0.68, while the Average True Range indicator is currently displaying 1.76. With analysts defining $64.00-$90.00 as the low and high price targets, we arrive at a consensus price target of $76.16 for the trailing 12-month period. The current price is about -8.6% off the estimated low and -52.72% off the forecast high, based on this estimate. Investors will be thrilled if RIO’s share price rises to $75.31, which is the median consensus price. At that level, RIO’s share price would be -27.8% below current price.
To see how Rio Tinto Group stock has been performing today in comparison to its peers in the industry, here are the numbers: RIO stock’s performance was -0.62% at last check in today’s session, and -30.02% in the past year, while Freeport-McMoRan Inc. (FCX) has been trading -2.61% in recent session and positioned -19.42% lower than it was a year ago. Furthermore, Vale S.A. (VALE) showed a decrease of -3.52% today while its price kept declining at -36.92% over the past year. Rio Tinto Group has a P/E ratio of 5.46. Also during today’s trading, the S&P 500 Index has surged 1.05%, while the Dow Jones Industrial also saw a positive session, up 0.91% today.
An evaluation of the daily trading volume of Rio Tinto Group (NYSE:RIO) indicates that the 3-month average is 3.55 million. However, this figure has increased over the past 10 days to an average of 3.21 million.
Currently, records show that 1.62 billion of the company’s shares remain outstanding. The insiders hold 6.50% of outstanding shares, whereas institutions hold 10.40%. The stats also highlight that short interest as of Jul 14, 2022, stood at 15.81 million shares, resulting in a short ratio of 3.9 at that time. From this, we can conclude that short interest is 0.98% of the company’s total outstanding shares. It is noteworthy that short shares in July were up slightly from the previous month’s figure, which was 13.16 million. However, since the stock’s price has seen -10.70% year-to-date, investors’ interest is likely to be reignited due to its potential to move even lower.