Is It Safe To Invest In Rio Tinto Group Now?

Rio Tinto Group (NYSE:RIO) price on Wednesday, October 06, rose 1.04% above its previous day’s close as an upside momentum from buyers pushed the stock’s value to $67.07.

A look at the stock’s price movement, the close in the last trading session was $66.38, moving within a range at $65.21 and $66.71. The beta value (5-Year monthly) was 0.59 while the PE ratio in trailing twelve months stood at 5.82. Turning to its 52-week performance, $93.91 and $53.65 were the 52-week high and 52-week low respectively. Overall, RIO moved -10.05% over the past month.

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Rio Tinto Group’s market cap currently stands at around $109.40 billion. The company has a Forward Dividend ratio of 6.85, with its dividend yield at 10.21%. 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 100% Sell category.

7 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, 0 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.

RIO’s current price about -2.41% and -10.52% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 38.64, while 7-day volatility ratio is 1.89% and 1.77% in the 30-day chart. Further, Rio Tinto Group (RIO) has a beta value of 0.71, and an average true range (ATR) of 1.60. Analysts have given the company’s stock an average 52-week price target of $94.66, forecast between a low of $77.00 and high of $120.00. Looking at the price targets, the low is -14.81% off current price level while to achieve the yearly target high, price needs to move -78.92%. Nonetheless, investors will most likely welcome a -35.41% jump to $90.82 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 stronger. Data shows RIO’s intraday price has changed 1.04% in last session and 16.17% over the past year. Comparatively, Freeport-McMoRan Inc. (FCX) has moved -1.52% on the day and only 101.72% in the past 12 months. Looking at another peer, we see that BHP Group (BBL) price has gained 0.45% on the day. However, the stock is 23.08% off its price a year ago. If we look at the PE ratio, we find that Rio Tinto Group’s ratio stands at 5.82 compared to Freeport-McMoRan Inc.’s 16.58 and BHP Group’s 11.44. Elsewhere, the overall performance for the S&P 500 and Dow Jones Industrial shows that the indexes are up 0.41% and 0.30% respectively in the last trading.

If we refocus on Rio Tinto Group (NYSE:RIO), historical trading data shows that trading volumes averaged 3.71 million over the past 10 days and 3.03 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 […]

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