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Rio Tinto Group (RIO): A New Perspective

Rio Tinto Group (NYSE:RIO) concluded the trading at $66.03 on Thursday, September 14 with a rise of 4.63% from its closing price on previous day.

Taking a look at stock we notice that its last check on previous day was $63.11 with its price kept floating in the range of $65.295 and $66.10 on the day. Company’s P/E ratio for the trailing 12 months is 12.47. Considering stock’s 52-week price range provides that RIO hit a high price of $80.51 and saw its price falling to a low level of $50.92 during that period. Over a period of past 1-month, stock came adding 12.41% in its value.

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With its current market valuation of $110.69 billion. RIO Stock’s Forward Dividend of 6.69 and its yield of 10.13% are making investors’ thoughts stronger that it could climb further before the company announces its earnings for the current quarter.

In last 7 days, analysts came adjusting their opinions about stock’s EPS with no upward and no downward revisions, an indication which could give clearer idea about the company’s short term price movement. In contrast, when we review RIO stock’s current outlook then short term indicators are assigning it an average of 50% Sell, while medium term indicators are categorizing the stock at an average of Hold. Long term indicators are suggesting an average of Hold for it.

According to ratings assigned by 8 analysts at the scale of 1 to 5 with 1.00 representing a strong buy and 5.00 suggesting a strong sell; 3 of them are recommending Rio Tinto Group (RIO) as a Hold, while 3 are in view that stock is a Buy. Recommendation by 0 analysts for the stock is an Underweight while number of those analysts who rated the stock as an Overweight is 1, whereas 1 of them are considering the stock as a Sell. When taken as whole, stock gets a rating of Overweight and that encourages the investors to exploit the opportunity and build their stake up in the company.

Digging deeper we become aware of the PEG ratio of the RIO stock which is currently positioned at 0. It further provides that stock’s current price level is 7.14% away from its 20-day simple moving average and is 3.71% off its SMA50. Its relative strength index (RSI) for 14-periods is oscillating at 64.12 while volatility remained at 0.97% over the past week which changes to 1.21% when measuring it over the past month. Beta is valued at 0.74, while measure of average true range or ATR is currently at 1.31. In predicting price targets of as low as $73.90 and as high as $92.00, analysts are in agreement on assigning the stock over the next 12 months average price target of $80.85. Stock’s current price level is -11.92% above from estimated low price target while it is -39.33% below the estimated high; and even if the RIO’s share succeeded to reach the median price of $78.75, then the outlook of -19.26% could come to the excitement of the investors.

In comparing Rio Tinto Group (RIO)’s stock with other industry players reveals that stock’s current price change of 4.63% and that of 16.50% over the past 12 months is in competing position with that of Freeport-McMoRan Inc. (FCX) which saw its stock price raised by 2.37% in the last trading and went through an increase of 32.06% in past 12-month trading. Rio Tinto Group has a P/E ratio of 12.47 against that of Freeport-McMoRan Inc.’s 27.96. On the other hand, the S&P 500 Index was up 0.84% in the last trading session while the Dow Jones Industrial closed the session higher at 0.96%.

Having a second look at Rio Tinto Group (NYSE:RIO) provides that stock’s average daily trading volume for 3 months was 2.84 million, while it jumped to 2.83 million when we calculate an average volume for past 10 days. Number of outstanding shares of the stock stood at 1.62 billion.

The percentage of outstanding shares held by the insiders is 6.50% while it is 11.10% for the institutional holders. The figures also indicate that as of Aug 30, 2023, number of stock’s short shares was 11.36 million which implies a short ratio of 3.8. This shows up a 0.70% of Short Interest in company’s outstanding shares on the day. In August the standing of shares short improved as it was 7.63 million in the previous month. Subtraction of -7.26% by stock’s current price to its year-to-date value in last trading session is likely to be increasing investors’ interest in the stock as it is hinting an extended uptrend.