Rio Tinto Group [RIO] Stock trading around $70.62 per share: What’s Next?

Rio Tinto Group [NYSE: RIO] closed the trading session at $70.62 on 03/07/23. The day’s price range saw the stock hit a low of $70.4087, while the highest price level was $72.32. The company report on March 6, 2023 that Rio Tinto Finance (USA) plc prices US$1.75 billion of fixed rate notes.

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Rio Tinto has priced US$650 million of 10-year fixed rate SEC-registered debt securities and US$1.1 billion of 30-year fixed rate SEC-registered debt securities. The bonds will be issued by Rio Tinto Finance (USA) plc and will be fully and unconditionally guaranteed by Rio Tinto plc and Rio Tinto Limited. The 10-year notes will pay a coupon of 5.000 per cent and will mature March 9, 2033 and the 30-year notes will pay a coupon of 5.125 per cent and will mature March 9, 2053.

Deutsche Bank Securities Inc., J.P. Morgan Securities LLC, Santander US Capital Markets LLC and SMBC Nikko Securities America, Inc. acted as Joint Book-running Managers, Bank of China Limited, London Branch, CIBC World Markets Corp., Citigroup Global Markets Inc. and HSBC Securities (USA) Inc. acted as Joint Bookrunners, and ANZ Securities, Inc., Credit Agricole Securities (USA) Inc., Mizuho Securities USA LLC, nabSecurities, LLC, Natixis Securities Americas LLC and Westpac Banking Corporation acted as Co-Managers.

The stocks have a year to date performance of -0.81 percent and weekly performance of 1.28 percent. The stock has been moved at 29.60 percent over the last six months. The stock has performed -5.47 percent around the most recent 30 days and changed 1.15 percent over the most recent 3-months.

If compared to the average trading volume of 2.82M shares, RIO reached to a volume of 3752446 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 $73.89 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.

Exane BNP Paribas have made an estimate for Rio Tinto Group shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on February 13, 2023. The new note on the price target was released on January 12, 2023, representing the official price target for Rio Tinto Group stock.

The Average True Range (ATR) for Rio Tinto Group is set at 1.99, with the Price to Sales ratio for RIO stock in the period of the last 12 months amounting to 2.06. The Price to Book ratio for the last quarter was 2.28, with the Price to Cash per share for the same quarter was set at 5.52.

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 1.28. With this latest performance, RIO shares dropped by -5.47% in over the last four-week period, additionally plugging by 29.60% over the last 6 months – not to mention a drop of -13.06% 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 41.63, with the RSI for the last a single of trading hit 39.94, and the three-weeks RSI is set at 43.97 for Rio Tinto Group [RIO]. The present Moving Average for the last 50 days of trading for this stock 74.46, while it was recorded at 72.99 for the last single week of trading, and 64.77 for the last 200 days.

Rio Tinto Group [RIO]: An insightful look at the core fundamentals

Rio Tinto Group’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.10 and a Current Ratio set at 1.60.

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 -3.30%.

Rio Tinto Group [RIO]: Insider Ownership positions

There are presently around $10,022 million, or 11.10% of RIO stock, in the hands of institutional investors. The top three institutional holders of RIO stocks are: WELLINGTON MANAGEMENT GROUP LLP with ownership of 16,851,661, which is approximately 20.172% of the company’s market cap and around 6.50% of the total institutional ownership; FISHER ASSET MANAGEMENT, LLC, holding 14,424,481 shares of the stock with an approximate value of $1.02 billion in RIO stocks shares; and STATE FARM MUTUAL AUTOMOBILE INSURANCE CO, currently with $772.0 million in RIO stock with ownership of nearly 0% of the company’s market capitalization.

Positions in Rio Tinto Group stocks held by institutional investors increased at the end of Wednesday and at the time of the Wednesday reporting period, where 368 institutional holders increased their position in Rio Tinto Group [NYSE:RIO] by around 18,442,775 shares. Additionally, 276 investors decreased positions by around 8,753,127 shares, while 118 investors held positions by with 114,719,887 shares. The mentioned changes placed institutional holdings at 141,915,789 shares, according to the latest SEC report filing. RIO stock had 121 new institutional investments in for a total of 4,039,639 shares, while 71 institutional investors sold positions of 3,864,865 shares during the same period.


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