Rio Tinto plc ADR [NYSE: RIO] loss -0.75% or -0.49 points to close at $64.60 with a heavy trading volume of 5272968 shares. The company report on April 2, 2024 at 7:07 PM that Rio Tinto to manage the Ranger Rehabilitation Project for ERA.
Rio Tinto will manage the Ranger Rehabilitation Project in Australia’s Northern Territory on behalf of Energy Resources of Australia Ltd (ERA), under a new Management Services Agreement (MSA) signed today.
The MSA will build on ERA’s existing rehabilitation work with Rio Tinto’s technical expertise in designing, scoping and executing closure projects. Transition to Rio Tinto management of the project will start immediately and is expected to take about three months.
The daily chart for RIO points out that the company has recorded 3.03% gains over the past six months.
If we look at the average trading volume of 2.82M shares, RIO reached to a volume of 5272968 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying about Rio Tinto plc ADR [RIO]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for RIO shares is $82.30 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 1.62. 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.
Liberum have made an estimate for Rio Tinto plc ADR shares, keeping their opinion on the stock as Hold, with their previous recommendation back on March 05, 2024. While these analysts kept the previous recommendation, Goldman raised their target price to Buy. The new note on the price target was released on January 12, 2024, representing the official price target for Rio Tinto plc ADR stock.
The Average True Range (ATR) for Rio Tinto plc ADR is set at 1.15, with the Price to Sales ratio for RIO stock in the period of the last 12 months amounting to 1.50. The Price to Book ratio for the last quarter was 1.92, with the Price to Cash per share for the same quarter was set at 8.62. Price to Free Cash Flow for RIO in the course of the last twelve months was 9.55 with Quick ratio for the last quarter at 1.17.
Trading performance analysis for RIO stock
Rio Tinto plc ADR [RIO] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 3.91. With this latest performance, RIO shares dropped by -0.39% in over the last four-week period, additionally plugging by 3.03% over the last 6 months – not to mention a drop of -5.83% 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 52.03, with the RSI for the last a single of trading hit 56.83, and the three-weeks RSI is set at 49.16 for Rio Tinto plc ADR [RIO]. The present Moving Average for the last 50 days of trading for this stock 65.76, while it was recorded at 64.21 for the last single week of trading, and 65.85 for the last 200 days.
Rio Tinto plc ADR [RIO]: A deeper dive into fundamental analysis
Rio Tinto plc ADR’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.17 and a Current Ratio set at 1.69.
Rio Tinto plc ADR [RIO]: An earnings per share (EPS) analysis
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 plc ADR go to -3.30%.
An analysis of Institutional ownership at Rio Tinto plc ADR [RIO]
The top three institutional holders of RIO stocks are: VANGUARD GROUP INC with ownership of 1.32 billion shares, which is approximately 8.4983%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $200.69 billion in RIO stocks shares; and BERKSHIRE HATHAWAY INC, currently with $174.35 billion in RIO stock with ownership which is approximately 5.8386%.
