Rio Tinto Group (NYSE:RIO)’s traded shares stood at 2.42 million during the latest session, with the company’s beta value hitting 0.71. At the last check today, the stock’s price was $64.65, to imply a decrease of -1.85% or -$1.22 in intraday trading. The RIO share’s 52-week high remains $83.21, putting it -28.71% down since that peak but still an impressive 21.24% since price per share fell to its 52-week low of $50.92. The company has a valuation of $111.10B, with an average of 3.78 million shares in intraday trading volume over the past 10 days and average of 2.90 million shares over the past 3 months.
Analysts have given a consensus recommendation of an Overweight for Rio Tinto Group (RIO), translating to a mean rating of 1.80. Of 8 analyst(s) looking at the stock, 0 analyst(s) give RIO a Sell rating. 0 of those analysts rate the stock as Overweight while 3 advise Hold as 4 recommend it as a Buy. 1 analyst(s) have given it an Underweight rating. Estimates put the company’s current-quarter earnings per share at $0.
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Rio Tinto Group (NYSE:RIO) trade information
After registering a -1.85% downside in the latest session, Rio Tinto Group (RIO) has traded red over the past five days. The stock hit a weekly high of 69.57 this Wednesday, 03/15/23, dropping -1.85% in its intraday price action. The 5-day price performance for the stock is -5.23%, and -13.45% over 30 days. With these gigs, the year-to-date price performance is -9.20%. Short interest in Rio Tinto Group (NYSE:RIO) saw shorts transact 10.97 million shares and set a 4.06 days time to cover.
Analysts on Wall Street suggest a consensus price target of $79.68, implying an increase of 18.86% to the stock’s recent value. The extremes give us $67.00 and $95.00 for target low and target high price respectively. As such, RIO has been trading -46.95% off suggested target high and -3.63% from its likely low.
Rio Tinto Group (RIO) estimates and forecasts
Looking at statistics comparing Rio Tinto Group share performance against respective industry, we note that the company has underperformed competitors. Rio Tinto Group (RIO) shares are 15.04% up over the last 6 months, with its year-to-date growth rate lower than industry average at -9.45% against 15.70%.
An assessment of the company’s 5-year growth patterns shows that annual earnings grew an estimated 8.30% for the past 5-year period. While 2023 is set for a -41.10% return in earnings, projections for the next 5 years are at -3.30% annually.
RIO Dividends
Rio Tinto Group has its next earnings report out in April. However, it is important to take into account that this dividend yield ratio is just an indicator to only serve the purpose of guidance. Investors interested to invest in the stock should ponder company’s other fundamental and operations related aspects too. Rio Tinto Group has a forward dividend ratio of 9.09, with the share yield ticking at 13.80% to continue the rising pattern observed over the past year. The company’s average dividend yield trailing the past 5-year period is 0.00%.
Rio Tinto Group (NYSE:RIO)’s Major holders
Rio Tinto Group insiders hold 0.00% of total outstanding shares, with institutional holders owning 11.38% of the shares at 11.38% float percentage. In total, 11.38% institutions holds shares in the company, led by Fisher Asset Management, LLC. As of Dec 30, 2022, the company held over 14.42 million shares (or 1.15% of shares), all amounting to roughly $1.03 billion.
The next major institution holding the largest number of shares is Wellington Management Group, LLP with 14.02 million shares, or about 1.12% of shares outstanding. As of the market price on Sep 29, 2022, these shares were worth $772.11 million.
We also have Washington Mutual Investors Fund and iShares Core MSCI EAFE ETF as the top two Mutual Funds with the largest holdings of the Rio Tinto Group (RIO) shares. Going by data provided on Dec 30, 2022, Washington Mutual Investors Fund holds roughly 7.97 million shares. This is just over 0.64% of the total shares, with a market valuation of $567.15 million. Data from the same date shows that the other fund manager holds a little less at 5.92 million, or 0.47% of the shares, all valued at about 421.31 million.
