Rio Tinto Group [NYSE: RIO] plunged by -$0.8 during the normal trading session on Friday and reaching a high of $79.40 during the day while it closed the day at $79.40. The company report on April 9, 2021 that Rio Tinto reaches agreement with Turquoise Hill Resources on financing plan for Oyu Tolgoi.
Rio Tinto has entered into a binding Heads of Agreement (HoA) with Turquoise Hill Resources (TRQ) for an updated funding plan (the “Funding Plan”) for the completion of the Oyu Tolgoi (OT) Underground Project in Mongolia. The Funding Plan addresses the estimated remaining known funding requirement of approximately $2.3 billion1, building on and replacing the arrangements established in the Memorandum of Understanding that Rio Tinto and TRQ previously entered into on 9 September, 2020.
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Under the HoA, subject to securing approval by OT LLC and any required support from the Government of Mongolia, and subject to timing, availability, and terms and conditions being acceptable to both parties, Rio Tinto and TRQ will:.
Rio Tinto Group stock has also gained 1.82% of its value over the past 7 days. However, RIO stock has declined by -6.70% in the 3 months of the year. Over the past six months meanwhile, it has gained 31.08% and gained 6.65% year-on date.
The market cap for RIO stock reached $131.37 billion, with 1.62 billion shares outstanding and 1.06 billion shares in the current float. Compared to the average trading volume of 2.34M shares, RIO reached a trading volume of 2439176 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here’s what leading stock market gurus have to say about Rio Tinto Group [RIO]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for RIO shares is $99.13 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on RIO stock is a recommendation set at 1.80. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
DZ Bank have made an estimate for Rio Tinto Group shares, keeping their opinion on the stock as Buy, with their previous recommendation back on March 31, 2021. The new note on the price target was released on March 18, 2021, representing the official price target for Rio Tinto Group stock.
The Average True Range (ATR) for Rio Tinto Group is set at 2.05, with the Price to Sales ratio for RIO stock in the period of the last 12 months amounting to 2.94. The Price to Book ratio for the last quarter was 2.73, with the Price to Cash per share for the same quarter was set at 8.00. Price to Free Cash Flow for RIO in the course of the last twelve months was 36.96 with Quick ratio for the last quarter at 1.50.
RIO stock trade performance evaluation
Rio Tinto Group [RIO] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 1.82. With this latest performance, RIO shares dropped by -1.01% in over the last four-week period, additionally plugging by 31.08% over the last 6 months – not to mention a rise of 74.39% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for RIO stock in for the last two-week period is set at 49.68, with the RSI for the last a single of trading hit 52.30, and the three-weeks RSI is set at 48.76 for Rio Tinto Group [RIO]. The present Moving Average for the last 50 days of trading for this stock 81.66, while it was recorded at 79.65 for the last single week of trading, and 69.43 for the last 200 days.
Rio Tinto Group [RIO]: An insightful look at the core fundamentals
Operating Margin for any stock indicates how profitable investing would be, and Rio Tinto Group [RIO] shares currently have an operating margin of +38.10 and a Gross Margin at +40.98. Rio Tinto Group’s Net Margin is presently recorded at +21.90.
Return on Total Capital for RIO is now 28.54, given the latest momentum, and Return on Invested Capital for the company is 18.01. Return on Equity for this stock inclined to 23.43, with Return on Assets sitting at 11.08. When it comes to the capital structure of this company, Rio Tinto Group [RIO] has a Total Debt to Total Equity ratio set at 29.39. Additionally, RIO Total Debt to Total Capital is recorded at 22.72, with Total Debt to Total Assets ending up at 14.20. Long-Term Debt to Equity for the company is recorded at 28.15, with the Long-Term Debt to Total Capital now at 21.76.
Reflecting on the efficiency of the workforce at the company, Rio Tinto Group [RIO] managed to generate an average of $160,467 per employee. Receivables Turnover for the company is 14.82 with a Total Asset Turnover recorded at a value of 0.51.Rio Tinto Group’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.50 and a Current Ratio set at 1.80.
Earnings per share (EPS) analysis for Rio Tinto Group [RIO] stock
The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for RIO. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Rio Tinto Group go to -7.10%.
Rio Tinto Group [RIO]: Insider Ownership positions
There are presently around $7,484 million, or 8.10% of RIO stock, in the hands of institutional investors. The top three institutional holders of RIO stocks are: FISHER ASSET MANAGEMENT, LLC with ownership of 12,165,772, which is approximately 3.153% of the company’s market cap and around 6.50% of the total institutional ownership; STATE FARM MUTUAL AUTOMOBILE INSURANCE CO, holding 12,132,020 shares of the stock with an approximate value of $963.28 million in RIO stocks shares; and FRANKLIN RESOURCES INC, currently with $834.61 million in RIO stock with ownership of nearly 13.921% of the company’s market capitalization.
Positions in Rio Tinto Group stocks held by institutional investors increased at the end of April and at the time of the April reporting period, where 291 institutional holders increased their position in Rio Tinto Group [NYSE:RIO] by around 13,034,543 shares. Additionally, 170 investors decreased positions by around 13,863,649 shares, while 101 investors held positions by with 67,360,891 shares. The mentioned changes placed institutional holdings at 94,259,083 shares, according to the latest SEC report filing. RIO stock had 123 new institutional investments in for a total of 2,192,840 shares, while 40 institutional investors sold positions of 3,211,725 shares during the same period.